I started selling real estate way back in 1976 when you could buy a perfectly livable home for about $20,000! Through the years, in addition to listing and selling homes for others, I also acquired and managed my own rental properties to provide for my retirement. I gained even more management experience during this time by managing rentals for my family members.
Everything went well until 2007 when I noticed the warning signs of a real estate market about to change, and change it did because by 2008 I was earning just ONE TENTH my usual income. A RECESSION had begun and appeared likely linger for many years, so I decided a change was necessary and departed Crescent Realty after 15 good years there.
In 2008 I started Red Roof Rentals in a small basement apartment pace at 14208 Pacific Avenue. I began with just my own rental properties but thanks to referrals from my good friends up at Crescent Realty I began to build my management business.
SERVICES – I decided to offer the kind of service that I would want for myself… returning calls promptly, doing what you say you are going to do, being on time, going the extra mile, accepting responsibility for errors, careful screening of applicants, proper and easily understood accounting practices, honesty and integrity, fairness and firmness … the basics of any good business!
COST – I felt that my clients shouldn’t pay any more than what I would want to pay myself and I liked the idea of the fee being a flat rate, not a percentage … so regardless of whether the rent is $900 or $9,000 per month, I decided the Red Roof BASIC management fee would be a flat $95/month … PERIOD!
REPAIRS – also liked to get repairs and maintenance done quickly, correctly and inexpensively (as opposed to “cheaply”!)… and so I decided that Red Roof would strive to charge our property owners a fair hourly rate for repairs and a fair oversight fee for office administration of repairs. Personally, I hate feeling “nickel-and-dimed” with excessive repair expenses, and you probably do too, so I am not going to do that to you!
Well, apparently others have found my ideas attractive because we have grown at a consistent rate of 35% / year since we started. As of December, 2013 we manage approx. 130 residential properties in Pierce County. We are constantly looking for better ways to serve our valued owners in the wise and efficient managing of their properties so if you have an idea you’d like to share with us please call the office and tell us your thoughts. We are your neighborhood property managers!