Diving into the world of property management with Derek Morton of NetGain Property Management reveals how a simple philosophy—"we try not to suck"—transformed into a thriving business managing 650 rental units in just nine years.
Derek's journey began in the title industry where he felt he'd hit a professional plateau. Seeking economic stability through market fluctuations, he launched NetGain with just two properties and a straightforward approach to balancing owner and tenant needs. What started as a modest goal of managing 100 units quickly expanded as Derek refined his systems and became increasingly selective about which owners and properties to take on.
At the heart of successful property management lies the ability to establish clear guidelines and stick to them—regardless of emotional appeals or difficult situations. Derek candidly shares how bending rules almost always leads to problems, noting "every time I make an exception, I get burned and have no one to blame but myself." This wisdom extends to screening tenants, handling maintenance issues, and setting appropriate expectations with property owners.
The podcast delves into practical considerations for anyone considering property management or looking to rent out their own home. Derek explains how NetGain's technology stack provides transparency to owners through weekly updates, streamlined maintenance approvals, and efficient vendor relationships. These systems allow them to handle hundreds of work orders monthly while maintaining quality service.
For first-time homebuyers wondering if they should keep their starter home as a rental property, Derek offers invaluable perspective on what successful landlording actually requires. His insights reveal why many accidental landlords eventually seek professional management—from the challenges of getting vendors to respond quickly to the reality of late-night emergency calls.
Ready to explore property management or connect with experts who can handle the day-to-day stress while you collect passive income? Visit netgainpm.com to learn more about Derek's approach to creating win-win situations for property owners and tenants alike.
Sarah Thress
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