Property Management Company Recommendation in Akron, Ohio
Member since 2023 · 30 posts · 14 votes
Property Management Company Recommendation in Akron, Ohio
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Michael SmytheBusiness Member
Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votesRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
To avoid going through the same poor experience, keep reading.
Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.
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, they often select the first PMC they call or that calls them back!
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!
A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
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😊
Logical Property Management4.9459 Reviews
5 Replies
- Akron, OH · Member since 2024 · 101 posts · 78 votes1y
I use CRPM and I am happy with them. On line portal, tenant login for payment and maintenance request, electronic ledger and reports, vendor pool for everything from turn over to sidewalk shoveling. Great communication via email if there is an issue that requires my attention. Most of my questions are answered in hours. They have a network of lenders, title companies also.
- Member since 2023 · 30 posts · 14 votes1y
Quote from @Richard Schubert:
I use CRPM and I am happy with them. On line portal, tenant login for payment and maintenance request, electronic ledger and reports, vendor pool for everything from turn over to sidewalk shoveling. Great communication via email if there is an issue that requires my attention. Most of my questions are answered in hours. They have a network of lenders, title companies also.
Thanks. Is it this one? https://www.akronhousing.net/property-owner-questionnaire/
How much they charges? Any feedback on regular communication and maintenance? Also Tenant placing etc?
- 1yMichael SmytheBusiness MemberReal Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
To avoid going through the same poor experience, keep reading.
Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.
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, they often select the first PMC they call or that calls them back!
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!
A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
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😊
Logical Property Management4.9459 Reviews - Akron, OH · Member since 2024 · 101 posts · 78 votes1yThe charges are par for the industry. Better to focus less on the cost and more on the service if you’re out of state. Dollar for
Quote from @Ajay Panwar:
Quote from @Richard Schubert:
I use CRPM and I am happy with them. On line portal, tenant login for payment and maintenance request, electronic ledger and reports, vendor pool for everything from turn over to sidewalk shoveling. Great communication via email if there is an issue that requires my attention. Most of my questions are answered in hours. They have a network of lenders, title companies also.
Thanks. Is it this one? https://www.akronhousing.net/property-owner-questionnaire/
How much they charges? Any feedback on regular communication and maintenance? Also Tenant placing etc?
dollar, every management company will provide different services for your money. They do not perform maintenance themselves. Everything maintenance related is performed by a contractor who provides a quote that you approve. Just because they work well for my expectations does not mean they will for you. I would still vet any referral. But I do feel confident that I could move to the North Pole and everything would run fine. I pretty much just look at my ledger and bank account once a month. - Akron, OH · Member since 2024 · 101 posts · 78 votes1y
Oh, forgot to say, yes that’s the one.
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