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Ryan Karr
  • Canyon Country, CA
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Property Management Cleveland Ohio

Ryan Karr
  • Canyon Country, CA
Posted Dec 17 2018, 10:43

I'm a new investor looking to get into the Cleveland Ohio market. I been trying to get my A team going, but been having a hard time finding the right people. I been talking to a few property Management companies, but it seems they are to busy to answering my question. I'm not sure if that's a good habit to have as a property Management company.

Any investor have any property Management companies they recommend?

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Barb Mattis
  • Boca Raton, FL
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Barb Mattis
  • Boca Raton, FL
Replied Dec 17 2018, 11:23

I know property management companies in the area. 

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Ryan Karr
  • Canyon Country, CA
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Ryan Karr
  • Canyon Country, CA
Replied Dec 17 2018, 11:59
@Barb Mattis do you have any you recommend?

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David Bardwell
  • Rental Property Investor
  • Brunswick, OH
123
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200
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David Bardwell
  • Rental Property Investor
  • Brunswick, OH
Replied Dec 17 2018, 12:16
@Ryan Karr - I've spent a lot of time researching this and have a list started. Pm me and I can share what I have so far. Let me know if there's anything else I can help with!

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Ryan Karr
  • Canyon Country, CA
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Ryan Karr
  • Canyon Country, CA
Replied Dec 17 2018, 16:18
@David Bardwell ok I will thanks for the help!

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Rob Gillespie
  • Specialist
  • Cleveland, OH
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Rob Gillespie
  • Specialist
  • Cleveland, OH
Replied Dec 18 2018, 05:25

@Ryan Karr 

Let me begin by saying I am the President of Greater Cleveland REIA. I know all of the property managers.

I have sold literally hundreds of "turn key" properties and referred many of them. 

I am good friends with many of them, have dinners and beers, heck we even buy and sell properties with them. 

Now with that said.... THEY ALL SUCK! 

Let me explain. They are not dishonest, they are not uneducated, but there is not a company on earth that will take care of running your property like you do. 

To keep this short so it does not turn into a book instead of a post, you can choose whomever you would like and they are all about the same in price. Some companies will only work in certain areas, while others work all over NE Ohio. 

Stay involved. Manage your Manager. This is YOUR asset. This is YOUR money. Pay attention to it. 

Make sure you know what is going on and verify your data. 

You would not let some dude in a white van take your kids to school, so don't turn over a massive investment to a complete stranger without keeping an eye on things. 

I am sure I will get some shade thrown at me over this, but I am just speaking from over 2 decades of experience, not something a picked up at a weekend seminar. 

Hope that helps. feel free to reach out to me if ya need help in the Cleveland market. 

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Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
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Caleb Heimsoth
  • Rental Property Investor
  • Durham, NC
Replied Dec 18 2018, 07:07
@Ryan Karr. I have since exited the cleveland market, but I had a good experience with the managers at neohiorents.com

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Ryan Evans
  • Rental Property Investor
  • Cleveland, OH
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Ryan Evans
  • Rental Property Investor
  • Cleveland, OH
Replied Dec 18 2018, 07:40

@Rob Gillespie that should be the default response for the endless new BP threads asking for property management recommendations in Cleveland! hah

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James Wise
  • Real Estate Broker
  • Cleveland, OH
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James Wise
  • Real Estate Broker
  • Cleveland, OH
Replied Dec 18 2018, 09:27

Is it that ALL of the property management companies in Cleveland "suck" or is it more likely that some people going into the business have misguided expectations about the industry? 

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Michael Swan
  • Rental Property Investor
  • San Diego, CA
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Michael Swan
  • Rental Property Investor
  • San Diego, CA
Replied Dec 18 2018, 10:29

I love what @Rob Gillespie said,  "

"Let me explain. They are not dishonest, they are not uneducated, but there is not a company on earth that will take care of running your property like you do.

To keep this short so it does not turn into a book instead of a post, you can choose whomever you would like and they are all about the same in price. Some companies will only work in certain areas, while others work all over NE Ohio.

Stay involved. Manage your Manager. This is YOUR asset. This is YOUR money. Pay attention to it.

Make sure you know what is going on and verify your data. "

Well said Rob!!  I have 120 front doors, primarily in Lake County and NE Euclid.  BUYER BEWARE!!  Be careful of the area, promises made etc.. If I have one single family rental property, I have $10,000 in reserves, if I have 2, $15,000 in reserves, if I have 3-5 I have $20,000 in reserves and if I have 5-10 I have $25,000-$30,000 in reserves.  It is not if Murphy will raise his ugly head, it is when.

Stay safe out their guys and ONLY talk to investors out there that have traveled down the road you want to go in the area you want to invest.

Swanny

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Ryan Karr
  • Canyon Country, CA
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Ryan Karr
  • Canyon Country, CA
Replied Dec 18 2018, 18:48
@Michael Swan thank you for your insight, do you have a property Management company you recommend?

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Michael Swan
  • Rental Property Investor
  • San Diego, CA
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Michael Swan
  • Rental Property Investor
  • San Diego, CA
Replied Dec 18 2018, 20:49

@Ryan Karr  send me a message. 

Swanny

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Sammy Lyon
  • Realtor
  • Los Angeles, CA
329
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Sammy Lyon
  • Realtor
  • Los Angeles, CA
Replied Dec 19 2018, 09:56

@Ryan Karr just sent you some recs!

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Eli Webb
  • Rental Property Investor
  • Vancouver, WA
30
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Eli Webb
  • Rental Property Investor
  • Vancouver, WA
Replied Jul 24 2019, 17:16

@Barb Mattis Hi Barb,

I just bought a sfh home in Garfield Heights and I’m not impressed with our property management company. Could you recommend a good company?

Thank you so much!

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Chris Lord
  • Rental Property Investor
  • Valencia, CA
13
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Chris Lord
  • Rental Property Investor
  • Valencia, CA
Replied Oct 13 2019, 14:02

@Sammy Lyon would you mind sending me those recommendations as well. Looks like we are fairly local to each other.

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Replied Jan 20 2020, 13:48

I have been looking for a decent property management who is approachable, responsive, and able to answer all my questions. I have been having bad experience with this property management - Karen Jones ,Keller Williams Greater Cleveland West, Property Management (neohiorents.com). The communication was bad. I cannot believe that it takes days to get a response (if not, no reply at all); cannot reach them via phone; left voice mail, but no response.

Any PM recommendations for an out of state investor?

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Ben Halabi
  • Property Manager
  • Cleveland, OH
74
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123
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Ben Halabi
  • Property Manager
  • Cleveland, OH
Replied Jan 21 2020, 09:35
Originally posted by @Ryan Karr:
I'm a new investor looking to get into the Cleveland Ohio market. I been trying to get my A team going, but been having a hard time finding the right people. I been talking to a few property Management companies, but it seems they are to busy to answering my question. I'm not sure if that's a good habit to have as a property Management company. Any investor have any property Management companies they recommend?

Hello Ryan, I wanted to share with you a couple of questions that will help you pick a good property management company.

Do you mark-up maintenance and repairs?

What does your screening process look like?

Do you charge any fees if the unit is vacant?

What are your management fees?

What is the best way to communicate with your team and what options do I have?

If I want to cancel my management agreement do I have to pay any fees?

How do you determine the rent amount?

How do you market vacant units?

What kind of software do you use?

Good luck to you!!

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Kierra Wesmoreland
  • Rental Property Investor
  • Columbus, OH
1
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4
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Kierra Wesmoreland
  • Rental Property Investor
  • Columbus, OH
Replied Mar 1 2020, 15:01

@Sammy Lyon and @Michael Swan could you also send me your PM recommendations?

Thanks in advance!

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Jag C.
  • Rental Property Investor
22
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71
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Jag C.
  • Rental Property Investor
Replied Dec 5 2022, 12:15

@Sammy Lyon and @Michael Swan Could you please share any updated property management recommendations? Thank you. 

@Antares Chen did you find anyone you could recommend? Thank you. 

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Drew Sygit#1 Classifieds Contributor
  • Property Manager
  • Birmingham, MI
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Drew Sygit#1 Classifieds Contributor
  • Property Manager
  • Birmingham, MI
Replied Dec 5 2022, 14:28

@Ryan Karr

Even if someone give you a referral, what meets their expectations, may not meet yours.

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😊

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