Property Management companies with in house contractors
A few questions
1. Is it a good idea to deal with property management companies that have their own in house contractors when you are looking for them to manage a 50 or 75 unit?
I've heard this can raise red flags as many of these property management companies cut deals with their in house contracts to get some sort of kick back. Any feed back on this ?
2. I've talked to several property management companies in my area and all of them sound good and tell you they can do exactly what you're expecting. How can you decipher the real from the fake? We're specifically looking for a property management company that has extensive repositioning experience and of course they all say yeah I'm great at that and or yeah we've done that before.
3. I also talked with a property management company that told me the largest complex they've managed is a 40 unit they are currently turning around. Then I asked the manager what if I came across a 75 or 100 unit that needs repositioning can you handle that. They immediately without hesitation said yes. Dealing with a 40 unit compared to a 75 or 100 unit is a different ball game. Would any of you here trust that company to take on that 75 or 100 unit if they tell you the largest apartment building we manage is a 40 unit?
Thanks in advance for your help.
1. Depends on their billing.
They do and should charge for managing your construction/maintenance needs. They should be clear as to their billing methods for this payment.
2. I responded to your other post on the repositioning prop-managers, I don't want to repeat it here; but the short answer is that as long as you understand you are signing over control of your investments success and paying for that, then it is what it is. could be great, could be horrible. depends on who you use and how they handle it.
3. Realistically its not that much different managing a 40 unit project or a 100 unit project. Its a **** ton of trades, a calendar, and a budget.
@Account Closed Thanks for the tips
