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[QUOTE="King bell, post: 331962, member: 75687"] Property management for houses can be a lucrative business if done right. Tactics include taking a piece of the monthly rent as management fees from landlords, charging leasing fees to get new tenants, adding maintenance and repair costs on top of the quotes, offering tenant placement services and so forth. Developing late payment charges, managing vacancies, creating a tenant retention strategy, providing utility management services, allowing short-term rentals through Airbnb among others. Which includes property consulting, partnering with insurance providers in order to earn referral fees and merging technology into the management fee. But success means understanding local laws; having great customer service; effective communication & keeping up with real estate trends in the market. To give clients the best possible service it is important to be aware and have a good grasp of local laws and regulations. [/QUOTE]
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