My expedition into property management was only by chance. I had about 15 places in Dundee and employed a fulltime convenient man to pocket hires and sort out any minor repairs. My pal Chris knew that my properties were well managed and he queried if I’d look after his mother’s patios. I knew that she wasn’t well and due to her well-being in the year half her apartments had lain empty.

I was able to get her occupancy up to over ninety percent. My charging structure was easy as I kept 10 percent of the rent and she also paid all costs. She was pleased with my service and told her mates who approached me to do the same for them. Being busy though not being required to say no immediately I offered to supply the same service but at 15% of the monthly hire.

To my continuing surprise they concluded. Advice by buddies got around and shortly I had to start turning people away as I was far too pushed managing my packing company to do property management full time! Had this business not been doing well I could have started handling properties full time. I even managed to buy 2 flats at knock down costs when one of my clients wanted a fast sale after his renters left. They offered me the properties for a similar price they’d purchased them for a couple of years gone. I knew the market rose significantly since that time and acquired them immediately.

I spent one week or 2 doing them up and had them employed out in almost no time. When property costs started rising strongly I sold both, making decent money only to lose out on the genuine boom in costs! If you have sufficient time to waste why don’t you consider handling other peoples’s properties? Be warned though you are on call 24 / 7 if an emergency occurs at any of the properties.

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