In the world of real estate, landlords and property managers are the backbone of the industry, keeping millions of homes and buildings safe, well-maintained, and habitable for tenants. However, with the many challenges that come with being a landlord, it's no easy feat. But for Eli Secor and Chris Lee, co-founders of Landlord Gurus, property management is not just a job, it's a legacy.
Eli and Chris, who cumulatively have been landlords for over 40 years, have a wealth of experience and knowledge to share. They grew up around rental properties and the business of property management has been in their families for generations. With over 20 residential and 3 commercial properties under Eli's management and 10 commercial properties under Chris', they are true experts in the field.
"We've been around rental properties since we were both children. It's natural for us because it goes back several generations. We're day in and day out managing the properties. It's a difference in philosophy," says Chris.
The co-founders of Landlord Gurus have faced their fair share of challenges over the years. They say that the biggest pain points for landlords are leasing up and filling vacancies, maintenance, legal regulations and requirements, and finding good reliable tenants.
"The biggest challenge for landlords is leasing up and filling vacancies," says Eli. "This entails advertising, screening, and finding good reliable tenants, which is critical because it determines your income. You lose money if you don't."
"Maintenance is also a big challenge," says Chris. "You need to know what to do, how to do it, who to dispatch to, and how to keep costs reasonable, while not letting it take over your life."
When it comes to legal regulations and requirements, the co-founders of Landlord Gurus are big fans of strong rental agreements that are location specific to where landlords operate. "You can get yourself into trouble really easily, so keeping daily tasks like collecting rent in a way that is legal is going to keep you out of trouble for the long run," says Chris.
Despite the challenges, Eli and Chris say that they have learned many valuable lessons over the years, and they are passionate about sharing their knowledge and experience with other landlords and property managers. They believe that their website, Landlord Gurus, can be a valuable resource for those in the industry, offering tools, calculators, and advice for a more profitable, efficient, and effective property management experience.
"We're aiming to be the go-to resource for property managers and landlords," says Eli. "We want to be the one place everyone goes to for information, tools, and advice."
For Eli and Chris, being a landlord and property manager is not just a job, it's a legacy they are proud to carry on. They believe that their experience, knowledge, and passion can make a difference in the lives of others in the industry and help to shape the future of property management.
