Property Manager or Company

4 Replies

Hello BP, i was thinking whether i should let an individual property manager who have experience working with investor or simply using a property management company to run my portfolio. What do you guys think? Is the pros of individual overweight the company, or is it the other way around?

@Dante Goh  

Property Manager is a title that means something very specific.  I don't know where you're thinking about investing, but here where I live, to be a property manager, you have to have a Real Estate Broker's License, or work for someone who does.  You can have a helper that does tasks for you, but he can't call himself a property manager unless he is credentialed.

@Dante Goh I think what you're getting at is should I hire a small company (could just be one or two people) or a large firm? 

There are pros and cons to each.  If you go with a single person firm, if something happens to that person, you could have a hard time getting your property back under control if you are out of state. There are less checks and balances with a single person company.  The pros are you typically get more individual attention, and you have a single point of contact. They are probably also less expensive because of having less overhead.

A large company probably has more processes in place, but you will likely get less individual attention.  You may talk to one person who does the leasing, another who does the management, and yet another who handles maintenance.  All those people will likely have no idea what's going on in the other departments.

Originally posted by @Dawn Brenengen :

@Dante Goh I think what you're getting at is should I hire a small company (could just be one or two people) or a large firm? 

There are pros and cons to each.  If you go with a single person firm, if something happens to that person, you could have a hard time getting your property back under control if you are out of state. There are less checks and balances with a single person company.  The pros are you typically get more individual attention, and you have a single point of contact. They are probably also less expensive because of having less overhead.

A large company probably has more processes in place, but you will likely get less individual attention.  You may talk to one person who does the leasing, another who does the management, and yet another who handles maintenance.  All those people will likely have no idea what's going on in the other departments.

 Ok, so for an out of state investor such as myself, should i hire a small or large firm to manage my portfolio?