Property Manager · San Antonio and Austin, TX · Member since 2016 · 377 posts · 380 votes
3y
@Latesha Forte Not sure of any PMC in Ft Worth, however, I would make a strong suggestion once you think you have found a good one. Ask for a copy of their management agreement. Everything should be in that agreement regarding fees and what is included in the services they provide.
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😊
Investor · Bay Area, CA · Member since 2023 · 13 posts · 2 votes
3y
@Michael Smythe Thank you kindly Michael, tons of good suggestions, i have tons of questions ready to ask haha and before pricing, thank you for sharing your wisdom, really appreciate you taking the time..
Property Manager · San Antonio and Austin, TX · Member since 2016 · 377 posts · 380 votes
3y
@Latesha Forte Not sure of any PMC in Ft Worth, however, I would make a strong suggestion once you think you have found a good one. Ask for a copy of their management agreement. Everything should be in that agreement regarding fees and what is included in the services they provide.
Real Estate Broker · San Antonio · Member since 2022 · 1k+ posts · 490 votes
3y
There are quite a few good PM's in Fort Worth! Jay Harley w/ Frontline Property Management is great. I have also included a link to the NARPM locator tool here for many more solid options. Good luck & happy investing!
Property Manager · Fort Worth, TX · Member since 2014 · 77 posts · 30 votes
2mo
I'd be happy to help — we're Westrom Group, and we've been managing Class A single-family homes in Fort Worth for over 30 years. Our model is a little different: no maintenance markups, total transparency on every invoice, and we only manage single-family homes so your property never gets lost in the shuffle. Feel free to DM me or visit https://www.google.com/url?q=http://westromgroup.com&source=gmail&ust=1785254835015000&sa=E — we'd love to show you what white-glove property management looks like in this market.
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