Great property managers.

[Sheldon Tausch]

Looking at putting my Ewa Beach house on the rental market but with the massive amount of property managers available, how or who should I choose?  If you have an recommendations I’m all ears. 

Thanks team for your support!

[Messianic Savior]

I will do the management-Call me ASAP: I have over 30 years of a very wide variety of construction experience (from roofing to professional carpentry, solar/PV to landscaping, residential to commercial, and beyond) , private home caretaking, high end property management, a few VRBO and Airbnb successes, and much more: 303-819-1544 Lets talk! (Yes I will move to Hawaii)....

[Joshua Messinger]

Hey @Sheldon Tausch! 

I would recommend finding a PM that checks off everything you are looking for and that is vertically scaled. But, on the opposite side of the spectrum, I wouldn't recommend using a PM company that has outsourced all operations to other companies. This is usually a recipe for disaster in my opinion as if everything is outsourced then you truly won't know what is actually going on at your property. 

I hope this helps and if you have any more questions please don't hesitate to reach out! 

-

Josh 

[Sheldon Tausch]

Josh,

Thanks for this tip. I’ve been looking and interviewing but they all are very similar. 

I’ll keep your advice Handy as I continue my search. 

Sheldon

[Drew Sygit]

@Sheldon Tausch

In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

It's often a case of not doing enough research, as they don't know what they don't know!

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.

EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!

This also leads owners to ASSUME simpler is better when it comes to management contracts.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord. Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:

https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊

[Sheldon Tausch]

@Drew Sygit 

Thank you for this information it’s very informative and deliberately said. I will definitely read the article you shared to help guide me in my PMC selection. When I mentioned that they are similar I meant for my area which is why it’s been hard to choose the right one. Fortunately for me, I have you and the BiggerPockets community to help coach, mentor, and train me on making not only the right decision, but the smart one. 

Thanks again!!