Marble Property Management
We are starting to self manage our rentals in Cleveland and other markets and I am looking into Marble - www.rentmarble.com - as a potential virtual property manager. Does anyone have experience with this new startup out of Seattle WA?
This is not the first in the forum in the last 2 weeks to ask about a virtual PMC. I can't say that I have much knowledge with them or any other virtual PMC, but you can get to the other thread here: https://www.biggerpockets.com/... and maybe some of the insight or connections can possibly help. Best of luck!
@Stuart Fox following. Let me know if you pull the trigger. I have 5 doors in Cleveland myself.
#2 Managing Your Property Contributor
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#2 Managing Your Property Contributor
- Property Manager
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@Stuart Fox the only way they can offer that price point is outsourcing everything overseas.
That is difficult to do without a LOT of training and "dumbing-down" processes.
So, they rarely handle anything but the simplest tasks well.
It's been our experience that this only works on Class A and many Class B properties. Class C is a nightmare.
Ask the following:
1) How will they show vacant properties to prospective tenants?
CHALLENGE: most states require licensed agents to show properties. Agents don't usually work for peanuts.
2) How much will they offer agents that bring qualified applicants and who pay them their commission?
CHALLENGE: Marble may not charge for placing tenants, but similar companies often will pay agents and pass that cost along to owners. Bit of a "bait & switch" listing on their website that they don't charge - but technically accurate as it's the agent that charges.
3) Maintenance: where are they getting contractors and handymen?
CHALLENGE: number one challenge for all property management companies currently! Not enough experienced construction workers available, which leads to crappy work.
These are just 3 issues that you should thoroughly investigate and NOT just rely on what's on their website or their standard response.
Good luck!
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#4 All Forums Contributor
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- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Quote from @Stuart Fox:
We are starting to self manage our rentals in Cleveland and other markets and I am looking into Marble - www.rentmarble.com - as a potential virtual property manager. Does anyone have experience with this new startup out of Seattle WA?
Bruhhh....Their whole shtick is that they let the tenants let themselves into your house with a smart lock...
Your copper is going to cause like 6 overdoses a week in Cleveland.