Rental Manager
What will I be doing ?
What kind of home business can you start if you don’t have a home ? You can be an on-premise rental manager, responsible for collecting rents, maintaining security, interviewing prospective renters and even maintaining the property for owners of apartments or commercial buildings. The greater your responsibility, the more you will be paid.
Many rental managers are independent contractors, although some have an employee realtionship with the rental property. Some enterprising folks work as a rental manager and, in their spare time, operate another home-based business.
What will I need to start ?
To be a good rental manager you must be a people person. You must know how to get along with nearly anyone, and how to handle the others. It will be also be useful to know basic maintenance skills such as minor plumbing reapirs, painting and related tasks. Of course, you should be trustworthy. Your employer may require that you are bonded if you collect rent money. You should be able to keep good records and make bank deposits for the building owners. You should also know the local tenents’ rights laws that you will have to comply with.
Who will my customers be ?
Your customers will be investment property owners that you can find through newspaper ads, real estate offices and other sources. One enterprising woman was a live-in rental manager for a large complex but also served as on-call manager for a smaller complex nearby and two storage rental units a few miles away. All of her employers approve of the arrangement because she is trustworthy, efficient and a hard worker.
How much should I charge ?
It’ sdifficult to set an hourly rate for rental managers because, most of the time, you’re on-call. Instead, your income can come from a salary or a percentage of rents and an hourly fee for maintenance work.
How much will I make ?
A rental manager can get free rent, a salary, maintenance wages and other income that can come to $2,000 a month or more. Depending on your responsibilities, you may also be able to operate a noncompeting home-based business when you’re not on duty.
How can I get started ?
Start reading the ads for rental managers in area newspaper to learn what is typically required. Look for opportunities to combine jobs to increase your income. Contact local investment real estate agents. Call state and local government offices to find out what rights tenants and landlords have in your area. Start building your set of references to show to prospective customers. Use your own experiences as a renter to convice property owners that you will manage their rentals well.
From the book of Dan Ramsey, Title : 101 Best Home Businesses, CAREER PRESS, 3 Tice Road, P.O. Box 687, Franklin Lakes, NJ 07417, 1-800-CAREER-1, 201-848-0310 (NJ and outside U.S.), FAX : 201-848-1727
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