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Updated over 8 years ago on . Most recent reply

User Stats

119
Posts
129
Votes
Ramsey Blankenship
  • Rental Property Investor
  • San Diego, Ca
129
Votes |
119
Posts

Keep my property manager or not?

Ramsey Blankenship
  • Rental Property Investor
  • San Diego, Ca
Posted
Hi guys, here is the story. I have self managed my 12 rental units for 2 years now while still active duty in the military. Over the past two years I have had zero problem renting out my units. All are 1/1 apartments. They typically rent within a few days of me posting an add on Craigslist. I am now preparing to transfer across the country, have a baby on the way, and have been extremely busy at work. So busy that I have had units come available, and they sat vacant because I couldn't get off work to meet potential tenants during a reasonable hour. Needless to say, I put my properties under management in order to reduce my workload. Unit info: 1/1 units in decent/lower middle class neighborhoods. All freshly renovated rent is $700 per month Here are my issues: -all three units have been vacant for two months. -they charge a $45 per person application fee -management company wont post ads on craigslist - the signs say "Resort" properties because they also manage many short term vacation rentals. - communication isn't very great Now- this is a very large, very professional agency in town and They are known for their honesty and good business. I have bought two properties through them and trust they are not sketchy in any way. My question is if they are too big for my units to be their priority. If so, this is an issue. I understand no one will care for the property like i will, but i know I could have them rented out if I were doing it myself. I don't want to get in their way however i cant afford this for much longer. Should I sit down an express my concerns, switch management, is this typical, im at a loss. Ramsey

Most Popular Reply

User Stats

285
Posts
220
Votes
David Stone
  • Rental Property Investor
  • Davenport, FL
220
Votes |
285
Posts
David Stone
  • Rental Property Investor
  • Davenport, FL
Replied

You are right, no one will care more about your property than you will. They have demonstrated this leaving it vacant for two months. You know how well these units rent yourself. 

I would... 1. Find the time to manage it myself, 2. Find another property management company to better manage the property, or 3. Screen your own tenants and refer them to this company if you have neither the time or alternative management company to fill the vacancy and find a better alternative once the unit is occupied and actually making you money. 

Hope something better works out for you.  Good luck!

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