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Re: Property Management breaking Fiduciary Agency - Landlord Forum thread 353820

Re: Property Management breaking Fiduciary Agency by Katiekate (New York) on August 14, 2017 @07:24

                              
I have always said this....

Property management companies and owners DO NOT have the same goals.

The property management agency is interested in maximizing their own bottom line. They do this by cutting costs and increasing revenue. They get the revenue from the owner.

The owner is interesting in maximizing their own bottom line by controlling costs and risks.

You and they have COMPETING goals.

You really cannot sign a contract with an agency and walk away...this is the result.

Next time...you write your own contract. And make sure you have the ability to verify monthly. I never let a property manager write the lease or handle the money..further..I make all the decision. Who to rent to, who to hire for work..when and how the work will be done. And, even the...I know that I will have to replace the property manager about every 18 months....that is about how long it takes a new manager to figure out a way to cheat me. Never fails. I expected it, I plan for it.
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