1 Wrong & 2 Right Ways to Find a Good Property Management Company
When I received a letter from the Code Enforcement Officer about my property, I took that as a pretty good sign my property management company wasn’t doing their job.
In hindsight, I probably should have realized this earlier. Say, for example, when it took them months to find my first tenant when other similar properties in that area were renting like hotcakes.
Or, perhaps, when the only tenant they brought in to the property skipped out on the lease two months into it. Needless to say, I had to fire the property mgmt. company and find another one.
It’s a rough way to start out on your very first investment property. But, it’s a darn good lesson to learn early.
And the lesson? Don’t find your property management on a Google search.
Turns out finding a company via a Google search, no matter how credible they appear to be, isn’t the right way.
So, the right way to find a property management company?
Easy, ask your real estate agent. Your agent wants you to be successful because, when you are, you will come back to them to buy more properties.
It’s a double win!
Another way? Ask your real estate mentor or other investors who invest in that location. They’ve got good relationships and want to help their team expand too.
Another double win! (single wins are soooo last year)
Fast forward to today, I am in a happy, healthy and loving relationship with my property management company. I found them via my real estate agent and they’re doing such a good job I threw them a pizza party!
Got any other good ways to find a solid prop mgmt company?
Comments (8)
ah, yes, I see that now. Good resource. Thx Paul Timmins
Joe Fairless, over 10 years ago
Joe About Irem Member and AMO Directory Search Individual Members Enter Location then member type :)
Paul Timmins, over 10 years ago
Joe About Irem Member and AMO Directory Search Individual Members Enter Location then member type :)
Paul Timmins, over 10 years ago
Paul Timmins thanks for the tip. I went to the site and registered but can't find how to search for property mgmt companies in a particular market that are certified. Do you have to have a paid membership to find that?
Joe Fairless, over 10 years ago
Referrals are always the best. Your agent would be foolish to give you an inferior recommendation if they want to keep your business. They won't always work but the odds are a lot better.
Shaun Reilly, over 10 years ago
Referrals are always the best. Your agent would be foolish to give you an inferior recommendation if they want to keep your business. They won't always work but the odds are a lot better.
Shaun Reilly, over 10 years ago
Joe Good post. I usually go to IREM.org search for ARM certified for <50 units CPM certified >50 units To become certified they had to pass a battery of tests. Paul
Paul Timmins, over 10 years ago
Joe Good post. I usually go to IREM.org search for ARM certified for <50 units CPM certified >50 units To become certified they had to pass a battery of tests. Paul
Paul Timmins, over 10 years ago