Property Management companies in Memphis TN

34 Replies

Hello BP Community,

I finally picked an area that i am interested in investing and would like to know if anyone has any experience with the following property management companies in Memphis TN?

1. Renshaw

2. Crest Core

3. Reedy  & Company

Any advice would be greatly appreciated. I am an out of state investor and trying to do all my due diligence before making the move

Morning @Samantha Santaniello ,

I haven't used use Renshaw but I haven't heard good or bad about them.  So I'll give them a neutral rating.

I have been using Crestcore for some of my homes for about four years.  They do a good job.  Very knowledgeable. They are getting big and growing their staff and improving processes.  Also, the only PM only company on this list.

I tried Reedy and took my properties to another vendor.

CB Properties, who was added, has a good home inspection process that is a little different than the other companies from what I have seen.  I like this company also.  

One thing to consider is where you are purchasing and the quality of the home.  I have found that PM's perform better in certain parts of town or different quality/class of homes.  One company may do well with a $60k home in one part of town where another does well with a $100k home in different area.

If you have any specific questions or concerns send me a message.

Good luck,

David

Crestcore ranks among one of the best property management companies in Memphis. I know the owners and they are both great guys and more importantly they are honest and full of integrity. When entrusting someone to look out for your interest those two qualities are a must have. 

I have CrestCore. Honestly, no complaints! I've only been with them for a few months so far but so far anytime I've had a question or a concern I'll just send them an email and they're quick with a response.

I'm still actively looking for a PM, so let me know your recommendations.  I talked to Bob Renshaw a few times, seems responsive and knowledgable.  I was turned off by Premier and Reedy.  

So let me know if there are others I should contact.

Hi Samantha. Did you wind up using one of the above property managers? How has your search gone? I hope it's gone well.

Thanks,

Pat

Hi Pat

I actually purchased a property in October with Memphis Turnkey Properties. They also manage my property as well.  so far, so good. I have no complaints. I am in the process of purchasing another one with them as well.

@Koleton Daley - I’m about to have to switch to another group. It has been an absolute nightmare man! And that is putting it kindly. My wife’s stress level has been through the roof. My most gracious analysis would be this (and this is just me): (1) I think the owner is a very kind man - I’ve talked with him personally. He has bent over backwards to try to help with things at times. (2) I am suspicious they maybe tried to grow to fast and did not have the proper infrastructure to do so. Hence, their clients and even tenants have been suffering. I also think many of the call center people they employ are not even in the US. Their portal software is atrocious. It is very hard to tell if we are getting paid all we are due. (3) I have been told they are more setup to handle extremely low-income areas, which doesn’t exactly describe the properties we have.

They have been so unbelievably incompetent on the whole, it has made my wife and I consider just selling our properties and getting out. I have another full-time job, man, and I certainly don’t pay a property management company to add stress to my life because I have to manage them like children in a daycare.

But I think we won’t make that drastic of a decision yet. I have heard that Management That Cares is very good. I’m considering a couple of companies to switch to. I feel your pain, man, and I too wish I had never gone with CrestCore.

I haven't dealt w/ Crestcore for management, but their sales team is full of crap.  I've lost a few $$ last year because the houses I tried to get under contract were not anywhere near how they were described.  Once I got an inspector in there, a lot of issues came up.

Not to mention, seems like every single of their properties is priced at exactly the 1% rule - meaning negative cash flow if you factor in vacancy, taxes, and repairs. 

@Kon Zel

I hope you are doing well and I hope you are having a great start to 2020!

According to my notes, we had a property under contract in December of 2018 and once the inspections were completed, you chose to back out because there was too many repairs and the numbers didn’t work for you and your business model. We also asked the seller for a price reduction to make the numbers work but the seller declined so we backed out of the deal and had your earnest money returned to you.

We have sent you a few emails with property options in November of 2019 with no reply and I don’t see any other communication other than that between myself or anyone else on my team. If you are referring to losing your money on the inspection costs then you’ll have to recall that this was a tenant occupied home and we couldn’t inspect it until it was under contract. Most sellers in Memphis do this so not to disturb tenants but I know you’re familiar with that.

I’m happy to jump on a call and help in anyway I can.

CRESTCORE BBB REVIEWS

@Kon Zel we couldn’t agree more with you and your opinion of CrestCore! We’ve found their brokers on the forums giving contradicting advice. We had CrestCore manage some of our homes and it was horrible! In our opinion, CrestCore is one of the most dishonest groups in Memphis. We wouldn’t recommend this organization to our worst enemy!!


Hello everyone,

My partners and I are in the process of purchasing 8 SFRs in a package deal. We are considering Reedy and Company as our property managers.

Who would you recommend as a PM in the Memphis area?

Thanks

Originally posted by @Ohad Benjamin :

Hello everyone,

My partners and I are in the process of purchasing 8 SFRs in a package deal. We are considering Reedy and Company as our property managers.

Who would you recommend as a PM in the Memphis area?

Thanks

Where is the home located at in Memphis?

 

Originally posted by @Ohad Benjamin :

North East Memphis

Congratulations on your new purchases! There are several good property management companies in Memphis. You should talk to Dan and Douglas with Crestcore. I’ll be happy to help you as well in that area. 

 

Hi Bill, we are selling our properties in Memphis largely due to a nightmare experience with our property management company, in addition to being at a distance, which makes it very hard to find a good one. I have heard positive things about Management That Cares. I can say this - we live in NC and currently use Block Realty here for our property management and the different is night and day. They are Wonderful! I want to buy up properties here and allow them to manage our portfolio, as this is how the relationship between owner and Property Management company should be. I think working with our current company in Memphis has probably taken years off of my wife's life in terms of health. I've said this before, but I feel I need to stress that we have had zero "character issues" with our current company. Character-wise, they have been honest and tried to help. It has really come down to an issue of not being well-organized and competent to do the job. I can only imagine how difficult it must be to run a successful property management company. Hope this helps.