Home River Group recommendation?

Question

Hello.

I just saw the the offer for promembers from Home River Group Property Management.

Have you used them, would you recommend them, and is it a good value?

I'm an out state investor looking for a reliable service that could handle various states.

David D'Ambrosio · Answer

Ive used them in KC.  I no longer use them. DM me if you want more info

David D'Ambrosio · Answer

I fired them 3 months ago and Im still waiting for them to return money they have held back for no reason.  I keep getting the run around, just like when they were managing my properties.  BP needs to be a little more selective on who they validate with their podcasts, as it was definitely a factor for me in choosing them.  I wonder if @andrew probst can get his company to return my money

Dave Clauson · Answer

I fired them last year. I had a rental that wasn't renting. When I finally got the keys, I found that it needed a decent amount of work that was not reflected in their reports. When I asked if they had ever been in the house, they admitted that they had not. It confirmed my decision to fire them.

Jeff T. · Answer

@Dawn Vought

When I interviewed Home River in Florida  a few years ago after listening to the podcast which have a rosy picture, they had what I thought was an unrealistically low PM fee. 6%

Which made me suspicious and I asked them how they make money. Also they seemed to have some turnover in the office and the person I was talking to was gone the next time  wanted information.

So these are red flags on general. Another PM made it sound like they would treat me special and make a 30-40 minute drive each way just to check out my properties.

I passed on them both and went with 2 PMs that were recommended by BP members and gave realistic answers to questions and had systems for dealing with things rather than the “we will drop everything and deal with your issue right away” BS. They are large enough to have enough staff but not so large that you become a cog in the machine. Roughly 300-500 properties managed.

I have been happy with them both.

Dawn Vought · Answer

Thanks Melinda!  I responded to your PM.  Definitely interested in chatting with you!  Thanks.

Dawn Vought · Answer

Thanks for your input Dave!  I have been self-managing, and it's been going a lot better than when I had (bad) PMs previously, but I'm ready to try with a PM again.  I have found there are more bad PMs than good ones.  I just don't get it, but maybe that's just me!

Melinda McDonald · Answer

Dawn -

I would be happy to chat about property management in KC.  Please feel free to reach out to me.

Melinda

Dave Clauson · Answer

I sold the house that I had under management with Home River. Currently, I don't own property in the KC market. I wanted to be able to manage the properties myself.

Dawn Vought · Answer

I know this thread is 3 years old, but I am currently looking for a PM for my Kansas City properties, and have been corresponding with Home River.  Does anyone have any more recent input on this PM?  Have they gotten better in the last 1 to 3 years?  @David D'Ambrosio and @Dave Clauson - it seems like you are in the KC market.  Do you currently have a better PM for KC SFRs?

Kasi V. · Answer

Home River ? Please stay away!

Here are my bitter experiences and why I was so desperate and even ready to lose $1100 to dump HRG.

We purchased this  property at Memphis, TN which was already tenanted. We switched the PM to  Home River. The very first day  I received a call in the midnight from their maintenance team asking for clarifications. They called me directly since they could not reach the property manager assigned to this property. I was so annoyed… what is the  point in having a PM and paying them monthly fees?!

After 2 weeks Home River emailed me just casually, the tenant had vacated 2 weeks ago. When I asked them why they did not know this earlier for which I received a response they sent a welcome letter to the tenant and kept mum. They claimed, this is their standard procedure!!

What??!! As a new PM don’t  you visit the tenant or at the least give the tenant a courtesy call about the changes?

These were red flags to me and decided to terminate the contract immediately. In spite of their blunders they insisted on the early termination fee.

I recently switched my PM in Jacksonville, FL also. I found too many errors in their accounting statements  and a wrong Schedule E.

I found another PM who are more economical, 100% transparent and much better control over the accounts.

Home River Group recommendation?

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