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The Value Triangle: What are you looking for in a Property Management Company?

When it comes to selecting a property management company it is important to know what you are getting in terms of price, quality and speed (effeciency). So, where does RMG fall?



The Triangle


As you can see in the figure above, there are three elements in any business on how they deliver their services. Cost (or price of services), quality (how well they do their job), and speed (how effecient they are). You can also substitute communication for the speed piece if you'd like.


Only Two


If you could only pick two when selecting a company what would they be? If you select price and speed, then the quality of work goes down. Usually these are property management companies that have really good prices and deliver on time and communicate well, but their services are diminished because their volume breaks their systems down and they make a lot of mistakes. Now, maybe you value price and quality. These companies are cheap and they deliver good service, by they are usually in high demand, so they are slow in delivering and don't communicate well because they are busy with all the volume while trying to deliver great work. This brings us to quality and speed (efficiency or communication). These are the companies that deliver high quality work that is on time (communicates well), but they are more expensive. This is where RMG falls. We aren't the most expensive, but we are definitely not the cheapest. We value quality, on time work, all while communicating well.


Conclusion


Every investor is different in what they value, but it's important to know what you are getting when one element gets sacrificed. So, when looking at the triangle, where do you want your management company to fall?


#propertymanagement #landlord #tenant #Houston

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