Some time ago a friend of mine received a pretty valuable piece of property in Los Angeles, California. He was given the deed to a several-story office building space. The building was just recently built and therefore empty of any tenants. Now in order for him to gain some profit from this piece of property he needed to fill it with businesses and companies. But he had two problems: he did not know how to manage an entire office complex and he lived and worked full-time in Washington, D.C. His job did not allow him the luxury of traveling often – only on vacation days – and he most certainly would not travel to Los Angeles in order to try his hand at a job he had no experience doing. What was he to do?
With some I help I got him in contact with property management in LA. With property management in LA he was able to kill two birds with one stone. Now he had professionals who could manage maintenance and repairs, tenant-related situations, grounds keeping, and so on. And since they were based in Los Angeles they would be available almost 24 hours a day to take care of any 11th hour problems if they were to pop up.