The Duncan Duo partners up with the Best Tampa Bay Property Manager Arrico Property Management

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Tampa Bay's #1 Realtor, The Duncan Duo partners up with the Best Tampa Bay Property Manager - Arrico Property Management. He has Paul Arrington from Arrico Property Management as guest to talk about the property management business and how important it is to have a specialist handle your rental properties.

A year ago, Andrew shares that they tried going into the property management business. Because they have a big real estate company and a big brand, they thought it would be something that they could go into. Unfortunately it didn't go well. They then realized how difficult and different property management is from the real estate business. Just like what they have in their own company where they have agents who specialize in buyers, some agents who specialize in certain areas and the like, they now understand how important it is to have a specialist deal with the property management side of the business.

Paul Arrington was introduced to them by friends as the go-to guy for property management. Not all real estate agents should be property managers. It's a different system, a different process. It's much more complicated and a lot more liability that most people could imagine.

Because they needed to have an outlet for their customers, they tried working with Paul with one of their own rentals. Andrew raves that not only did Paul rent it fast but also rented it for considerably more than what they had it rented out before. Andrew talks more about how though he's a business owner, even with his people and systems, the property management business wasn't right for his company. So imagine the normal consumer who want to do it themselves.  It's easy to say you can manage one property but what would be your opportunity costs vs what you pay for a property manager to deal with all those hassles? What's your time worth?

Andrew says he's glad and excited because now, they have an outlet for their consumers who need this type of service. He can now confidently send them to a pro. Paul has done a great job and he can be assured that Paul is 100% focused on property management.

Paul adds that though it's not added to the contract, if someone refers a client to him and the client decides to sell the property at some point, he sends them back to the agent who referred them. He doesn't sell properties and he doesn't compete with the real estate agents.

Richard Vasquez from Artisan Insurance adds that people come to them all the time. The consumer consults an attorney, not necessarily a real estate attorney, prior to coming to them to say they are ready to have their property rented out. The attorney provides them with advice that they think is in their client's best interest. Richard says they've found some properties in land trust and LLCs and they have done all kinds of things but all they've done is muddying up the water instead of coming to the insurance agent or the property manager for advice. Andrew shares a similar experience and says that by doing that, the lender will not sign off on the mortgage, they won't get Homestead, etc.

It just shows that having a specialist deal with the property management side of the business would ultimately be for the benefit for the consumer.

For more Tampa Bay Real Estate news and advice, tune in to The Duncan Duo Real Estate Show on 970 WFLA - Tampa Bay every Sundays at 10 am.

*The Duncan Duo and RE/MAX Dynamic has moved. As of 10/11/2014, our new address is 6320 S Dale Mabry Hwy, Tampa, FL 33611