Anyone have any good recommendations for a property manager specializing in section 8? I have a property being renovated now and expect it to be rental ready in about 30-60 days.
Anyone have any good recommendations for a property manager specializing in section 8? I have a property being renovated now and expect it to be rental ready in about 30-60 days.
We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
So, ask more questions!
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😊
Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
Anyone have any good recommendations for a property manager specializing in section 8? I have a property being renovated now and expect it to be rental ready in about 30-60 days.
If your strategy is Section 8, I wouldn't focus on finding a property manager who simply "handles Section 8."
I'd focus on finding one who understands how to operate around the program.
The reason I say that is because most of the value in Section 8 isn't collecting rent. The housing authority handles a large portion of that. The value comes from minimizing vacancy between tenants, navigating inspections efficiently, understanding payment standards, and knowing which neighborhoods consistently produce stable tenant demand.
The bigger risk isn't usually the tenant. It's the turnover. A property can perform well for years and then lose a significant amount of annual cash flow if a unit sits vacant waiting for repairs, inspections, or re-leasing. Most investors underestimate how much operational efficiency affects returns.
What I've seen is that owners often evaluate property managers based on management fees when they should be evaluating vacancy rates, inspection pass rates, and average days from move-out to move-in. A manager who charges slightly more but keeps units occupied usually ends up being the cheaper option.
Most investors think they're hiring someone to manage a property. In reality, they're hiring someone to protect cash flow.
Is this your first Section 8 property, or are you building toward a larger portfolio in Cleveland?
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