Trusted Apartment Management was started in 2006 in response to problems and irresolvable issues with existing Albuquerque Property Management companies.
The first and most basic issue, is an artificial barrier to entry, a property management company in Albuquerque is required to have a Real Estate brokers license. At first this may seem appropriate but the training & “BIG” money is in selling real estate not managing it. Managing becomes in most cases a secondary function to the sale of real estate.
Another issue that convinced us to start our management company was the push by existing property management companies to require us to provide a company entity to hire employees to work on our properties. This meant creating a completely new company for the purposes of letting the property management company hire employees on our behalf. Do not fall in to the trap of using the company entity that purchased the property for this purpose, which will put the property equity at risk.
Another issue we had experienced was significant problems with the accounting departments, which were continually distorting the monthly cash flow. The management company failed to respond to our questions and concerns in a timely manner.
Management companies would hire their brother-in-law, friend , cousin, etc. to do ordinary repairs and replacements charging the same or tacking on a management fee for the work which was usually sub par. It became unwieldy to maintain the repairs required by insurance companies, fire inspectors, tenant requests, housing codes much less to perform routine maintenance.