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View Full Version : Inhouse management vs property management


alpine692003
01-01-2005, 09:44 PM
Okay, what do you guys know about inhouse property managements? These are the people who manage their own complexs such as a 10 unit townhouse complex.. They are the council members and they dont' hire property managers to deal with the problems.. Are these type of managements cheaper??

Property management companies are the ones that the townhouse complex hires to manage their properties.. are they cheaper or better?

I find that property management companies are much better to deal with then the inhouse management companies??

ed2hess
01-01-2005, 10:25 PM
In house is cheaper and maybe better for you since they don't have the overhead of the property mgt. The inhouse way probably manages their expenses very very closely. The inhouse would care a LOT about the cost of mowing Long term the inhouse usually don't work because there are usually too many problems to deal with. And in our area you have to have liscense so that keep some from inhouse mgt.

alpine692003
01-01-2005, 10:36 PM
Yes, for the exact reason inhouse management is cheaper and will usually hire cheaper people... I dont like working for inhouse management, I like doing property management..

Any of you guys know more about how property management works?

Greenstar Services
01-02-2005, 02:05 AM
I don"t think self managed stratas are cheaper, but maybe wiser. On smaller size stratas the cost of property management firm may not needed if the members have knowledge of the strata act. The savings of that may go into other operations of the strata. I maintain several self managed stratas as well as property management stratas and your always having to deal with a member from the gardening committee. As long as you can provide a high standard of care and communicate with the council you should have very little problems.

PMLAWN
01-02-2005, 02:24 AM
I find that self managed will have more concern for the look of the property and maybe a little more personal.
The pro manager will be more focused on the money and will work at getting the most for the money.
You sell property care to the self managed.
You sell less stress and better service to the pro. The nice part of dealing with the pro is that if you can show that you are a good service provider and become a vendor for that manager, you can get many properties that they manage.

alpine692003
01-02-2005, 02:35 AM
Yes, I like dealing with the property managers.. I have a meeting with one momentarily, and this property management company is one of the biggest in our area.. I would like to get in with about 4 - 6 property management companes and I'm set! :rolleyes: :rolleyes:

I find that self managed will have more concern for the look of the property and maybe a little more personal.
The pro manager will be more focused on the money and will work at getting the most for the money.
You sell property care to the self managed.
You sell less stress and better service to the pro. The nice part of dealing with the pro is that if you can show that you are a good service provider and become a vendor for that manager, you can get many properties that they manage.

Greenstar Services
01-02-2005, 02:52 AM
Thats the best way. Just make sure you have a good balance between commercial and residential. You lose a couple of stratas and that can leave a big hole to fill. Good luck with your meeting.

alpine692003
01-02-2005, 02:54 AM
Thank, I was thinking keeping it at 75% commercial and 25% residential maintenances.. and then installation will be residentials only..

PMLAWN
01-02-2005, 03:13 AM
Please explain -stratas- I'm new to that term

alpine692003
01-02-2005, 03:16 AM
Strata is the council members for the inhouse management for the property..

10 unit complex - strata member is like one of the person's in charge and has a say of what goes on in that complex...

Its like a supervisor of the building!

I think strata is for canadian peeps only :sleeping:

PMLAWN
01-02-2005, 03:25 AM
Thanks Alpine, sounds like a HOA board with the board members.

alpine692003
01-02-2005, 05:26 AM
Probably ...

:p