Does anyone have any recommendations for a property management company? I have a couple of properties in Canton, Michigan, and looking to change my current property management company.
Does anyone have any recommendations for a property management company? I have a couple of properties in Canton, Michigan, and looking to change my current property management company.
Thanks
Hello Nachiket, I have many properties up in Wayne and Oakland County and I live in Florida. I've worked with 3 property managment companies there until after several years, I finally consolidated them all under The Mutual Team in Farmington Hills. Big difference between other PMCs. Ask for Nick Heppard; mention Shelby from Florida recommended. From my experience, they are the best, mainly because they are strict screening my tenants, hardly any issues (and they don't want any either) plus they have specialists for each area, listing, contracts, maintanence, accounting and such. It works out great. Just sending some sincere advice that took me years to learn.
Even if someone give you a referral, don’t make the mistake of assuming that PMC will meet your expectations, just because they met the expectations of the referral source.
We also can’t believe how many owners hire the first PMC they speak with!
Then they complain their expectations aren’t being met!
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 – and they often select the first PMC they call!
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”:
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😊
Please send us any feedback via email, as we do not use the DM feature here.
Also, if you like our response, please don’t be shy about giving us a vote😊
Does anyone have any recommendations for a property management company? I have a couple of properties in Canton, Michigan, and looking to change my current property management company.
Thanks
Hello Nachiket, I have many properties up in Wayne and Oakland County and I live in Florida. I've worked with 3 property managment companies there until after several years, I finally consolidated them all under The Mutual Team in Farmington Hills. Big difference between other PMCs. Ask for Nick Heppard; mention Shelby from Florida recommended. From my experience, they are the best, mainly because they are strict screening my tenants, hardly any issues (and they don't want any either) plus they have specialists for each area, listing, contracts, maintanence, accounting and such. It works out great. Just sending some sincere advice that took me years to learn.
Logical Property Management4.9451 Reviews