Brooklyn multi family property manager
Hello, I’m searching for a property manager for my three family, gut-renovated, vacant property in Bedford Stuyvesant Brooklyn . Has anyone worked with anyone with whom they’ve had a really good experience?
Welcome, @Melissa Finney! Thanks for joining BP and I hope you get value out of the forums.
I just did a Search of BP using the search button for "Brooklyn Property Manager" and filtered by members. While we really need to improve our search, I was able to find a couple of members you might try reaching out to and learning from.
@Llewelyn A. and @Ralph Chiaia may be good folks to reach out to and see if they have any referrals/recommendations!
@Melissa Finney - yes I've heard of a couple decent ones.
My recommendation is to choose a medium sized management company, if it's one of your only properties. Larger companies charge more for smaller property classes.
Shoot me a DM and I'm happy to send their contact info. Alternatively, I also help landlord/investors rent out their properties and can help place tenants (complete with the application/screening/viewing process).
Look forward to hearing back, thanks.
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Broker New York (#10401359681)
- 929-349-8042
- http://www.ClosedByMo.com
- [email protected]
Thank you @Scott Trench- i will check it out.
@Mohammed Rahman Just sent you a note. thanks for any info you can share.
Hi @Mohammed Rahman ,
I’m also looking for a PM for a Multifamily home in Bed-Stuy NY. Would you be able to share the same information you shared with Melissa please?
We've been happy so far with ours; we also have a 3-family.
Send me a note and I'll be happy to share contact info.
best,
Deena
HI @Melissa Finney, I'm a real estate agent in the area, I rent apartments (if you ever need help with that), and I do work with a property management company in the area as well.
Happy to help if you're still looking!
(I'm a real estate agent with EXR) Thanks
#2 Managing Your Property Contributor
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#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
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”:
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😊
