Tag: Hiring Property Manager

Hiring Practices for the Modern Property Manager

You will never regret hiring someone who has all the characteristics you need — and only few of the “Essential Requirements” listed in the job ad. One of the more cutting-edge trends in the American corporate world of hiring based on personality traits over skills, is starting to filter its way down to the small […]

How a Professional Landlord Manages Contractors: Like a BOSS

50% of workers say they’re not sure what’s expected of them in their job. Sounds crazy, but it’s true! The Royal Rose Properties Maintenance Department deals with an extraordinary range of contractors, from the down-and-dirty “Chuck with a truck” guys to professional builders who offer ALL the services – and charge you for all those […]

How Many People Does it Take to Manage a Property?

A good property management team can make your investment work. Royal Rose Properties is a fairly unusual property manager – we do a lot of things that most property managers don’t. In particular, we’re renowned for our in-depth record-keeping, our unique approach to the most high-risk/high-reward neighborhoods in Detroit, and for having a relatively vast […]

How to Manage Properties: Detectives on Assembly Lines

Employees shouldn’t  be mind-readers or push-button robots. Royal Rose Properties has built its business model with an eye toward the long term, both in terms of how to manage properties on the daily, and in terms of how we treat our business from a big-picture perspective. But this creates an interesting bit of “corporate dissonance” […]

A DIY Landlord’s Guide to When to Stop Being a DIY Landlord

Want to Fix Tenant Toilets at 3 a.m. and Lose All Your Money? Being a DIY landlord can, if you play your cards right, be a pretty low-key affair – our last week’s blog post has some clutch pointers on that. But it’s also fairly normal for landlording to kind of creep out of its […]

Property Management Paperwork & Data: How Much is Too Much?

Fortunately due to modern technology, the trees can breathe easy since many property management paperwork are now digitized. Property management styles run the gamut from the laissez-faire “Do nothing unless someone calls you to complain” to the highly intensive “stay on top of everything and document everything that happens along the way and produce regular […]

How Long Does It Take? Vacant Property Edition

study found that closing times on real estate rentals are getting longer—on average it now takes 50 days. Royal Rose Properties does a lot of things for our owners. We manage renovation, repairs, marketing, inspections, move-ins and -outs, collections, evictions, and more. Each of those tasks takes time, but many owners don’t really have a […]

Identifying the ‘Target Market’ for Your Property

Realtors use the same strategies their competition is using and somehow expects better results. Any kind of post proposing to talk about ‘targeting’ a property advertisement has to begin with a caveat: do not take anything in this post as advising you to do anything that would violate the Fair Housing Act. That will get […]

Your Property Management Agreement: What Does It Mean?

A Contract is a written list of the promises you have made. A Property Management Agreement is a complicated document. We get enough questions about ours that we figured we should probably do a little “Plain English” breakdown of the beasts. Keeping in mind, we’re not lawyers and nothing we say should be taken as […]

What Makes Royal Rose Properties Different?

Different in a good way. Recently, one of our employees — the wonderful young woman who represents us at all of the local trade shows and association gatherings — asked me a question that really got me thinking. “What makes Royal Rose Properties different from the other property managers in the Metro Detroit area?” It […]