~ originally published in the Journal of Business on March 15, 2012 ~
LeaseSource PM, which does business as Lease Source Property Management, has opened as a home-based business here.
Owner and sole employee Gary Miller, who lives near Wandermere Golf Course north of Spokane, says he decided to start the company after noticing an increase in the number of upscale homes requiring management.
“Often, these were properties the owners were unable to sell for what they believed was a fair value. … The owners were willing to lease the homes for an extended period of time in hopes market conditions improved and (the homes) could be sold,” Miller says.
His company specializes in representing properties that lease for more than $1,000 a month, with a minimum lease term of 12 months, he says. He plans to limit the company’s listings to about 50 properties in the Spokane area.
Miller says he is responsible for collecting rent, handling repair issues, conducting inspections, and making disbursements on behalf of the owners when managing a property.
Previously, Miller was a corporate real estate manager at Washington Trust Bank. He says he has more than 30 years of experience in land development, construction management, and commercial and residential real estate management.