Tip of the Month - March 2008
Source: Property Management & Managing Risk
Robert C. Kyle & Floyd M. Baird, RPA/SMA
change to avoid financial loss! Property Managers who can analyze the
real estate market and recognize trends will be prepared for economic
fluctuations and crises. By anticipating changes in the market
and adjusting rentals and other factors within their control, Property
Managers can minimize the effect of contractions in the real estate
cycle and keep their vacancy rates as low as possible. Knowledge
about economic trends and specific cycles in the real estate sector
provides a background against which to view the specific conditions and
characteristics of each property. The ability to anticipate
economic trends and market behavior provides the Property Manager with
excellent insulation against Owner dissatisfaction.
What are some
of the reasons a Property Owner would choose to hire a Property Manager
rather than manage the property himself or herself.?
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This web page was updated on 02/29/2008.