Metro Detroit / SE Michigan - Handyman Services
Member since 2023 · 7 posts · 1 vote
Metro Detroit / SE Michigan - Handyman Services
Most Popular Reply
Jim WellingtonBusiness Member
Real Estate Agent · Saint Clair Shores, MI · Member since 2022 · 73 posts · 51 votesQuote from @Oksana Walls:
Quote from @Drew Sygit:
@Oksana Walls what do you have against hiring a property management company?
Otherwise, suggest you go to Facebook Group Metro Detroit Real Estate Investors and ask there:)
Nothing against property management companies. I have been getting by with my friend helping for now (at low cost compared to PM company) and it's worked but actually I am actively looking for a property management company now :) Happy to discuss with you on this topic and thanks for the hint!
To me it should be what do they do for what they charge. Cost should only be an objection in the absence of value. If company A charges less but is understaffed, slow to respond, has you locked in with subpar marker rents, and as a result picks poor tenants then what benefit are you gaining by saving 25 bucks per month?
Now if company B charges more and that nets you better service, higher rents, better tenants, less damages as a result, and increases your bottom line should you really be haggling over 25 bucks per month???
When we do loans we have to communicate with the PM and I assure you from our perspective it’s clear what property managers operate like a well oil machined and the others that most likely are providing inferior results and services to their clients.
6 Replies
- 3yDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
@Oksana Walls what do you have against hiring a property management company?
Otherwise, suggest you go to Facebook Group Metro Detroit Real Estate Investors and ask there:)
Logical Property Management4.9451 Reviews - Member since 2023 · 7 posts · 1 vote3y
Quote from @Drew Sygit:
@Oksana Walls what do you have against hiring a property management company?
Otherwise, suggest you go to Facebook Group Metro Detroit Real Estate Investors and ask there:)
Nothing against property management companies. I have been getting by with my friend helping for now (at low cost compared to PM company) and it's worked but actually I am actively looking for a property management company now :) Happy to discuss with you on this topic and thanks for the hint!
- 3yDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
@Oksana Walls see our standard message about screening PMC's below. We don't have access to DM feature here, but please email us any questions you have:)
Even if someone give you a referral, don’t make the mistake of assuming that PMC will meet your expectations, just because they met the expectations of the referral source.
We also can’t believe how many owners hire the first PMC they speak with!
Then they complain their expectations aren’t being met!
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 – and they often select the first PMC they call!
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😊
Please send us any feedback via email, as we do not use the DM feature here.
Also, if you like our response, please don’t be shy about giving us a vote😊Logical Property Management4.9451 Reviews - 3yJim WellingtonBusiness MemberReal Estate Agent · Saint Clair Shores, MI · Member since 2022 · 73 posts · 51 votesAs an investor I personally don’t use a PM company. Not because I have anything against them. It seems to me that when it comes to PM companies everyone’s first criteria is what do they charge. My sister company, which is a DSCR lender Level Up Capital LLC deals with property managers all the time as part of our loan process for investors.
Quote from @Oksana Walls:
Quote from @Drew Sygit:
@Oksana Walls what do you have against hiring a property management company?
Otherwise, suggest you go to Facebook Group Metro Detroit Real Estate Investors and ask there:)
Nothing against property management companies. I have been getting by with my friend helping for now (at low cost compared to PM company) and it's worked but actually I am actively looking for a property management company now :) Happy to discuss with you on this topic and thanks for the hint!
To me it should be what do they do for what they charge. Cost should only be an objection in the absence of value. If company A charges less but is understaffed, slow to respond, has you locked in with subpar marker rents, and as a result picks poor tenants then what benefit are you gaining by saving 25 bucks per month?
Now if company B charges more and that nets you better service, higher rents, better tenants, less damages as a result, and increases your bottom line should you really be haggling over 25 bucks per month???
When we do loans we have to communicate with the PM and I assure you from our perspective it’s clear what property managers operate like a well oil machined and the others that most likely are providing inferior results and services to their clients. - Member since 2023 · 1 post · 0 votes3y
I have been using an experienced handyman based out of Taylor, MI who has been looking for work (we only have 4 units so we don’t have enough work to keep him busy). He does great work, but he doesn’t have a vehicle at the moment so we’ve been scheduling all of our repairs in one or two days and driving him. Obviously not an ideal situation but he’s the only handyman we’ve found with reasonable prices, does great work, and that we trust completely. If you’re interested, I can pass along his number.
- Real Estate Consultant · Brighton, MI · Member since 2013 · 607 posts · 251 votes3y
When does it make sense to manage your own rental?
1. If your property is nearby or within a reasonable driving distance.
2. You have less than 5 units.
3. You have accounts or a connection to local plumber, electrician, lawn care and contractor.
4. You don't mind tenants contacting you directly.
5. You have a clear understanding of local rental laws and requirements (i.e. rental permits).
Long-term rentals are not difficult to manage provided your properties are each in good condition and well-maintained. A lot of investor's prefer to have a "middle man" to handle all the in's and out's that sometimes come up with rental properties. Another reason is privacy. Most landlords want to maintain their anonymity rather than to be contacted directly by tenants. The third reason is typically, tenant screening. Landlords who are unfamiliar with property tenant screening often pay a big price down the road with problem tenants.
Now, when it comes to short-term rentals, it is always highly recommended that you look for a property management company. Unlike long-term rentals, STRs require what I call, the 3 M's. That is, constant monitoring, maintenance and marketing. Other relevant issues to consider:
1. Prices: You have to be able to keep track of your prices. One of the benefits of STRs is that you can adjust your daily rates based on seasonal events, high/low season, popular local events. A PM should keep track of your adjusted daily rates.
2. Constant Contact: When you list your property on sites such as Airbnb, VRBO or Booking.com, you need to always be ready to reply to online inquiries. Speaking from personal experience, we get several, daily.
3. Professional Marketing: STR guests can often be VERY picky. The experienced guest often come with high expectations. An experienced PM company knows this and will offer up suggestions how to set up your rental unit that will appeal to online vacationers. You can and should rely on their experience to market your units professionally, giving you an advantage over the inexperienced landlord.
4. Jump Ahead: Sites such as Airbnb, VRBO and others are a good resource but it takes a long time to learn the in's and out's of each. Piggy back off an experienced STR PM so that you can quickly jump ahead and get your property the attention it deserves and new bookings coming in sooner, rather than much later...if at all.
5. Check-In/Out: Guests are often provided with Check-In packages after reservations are confirmed and payment is received. The Check-In packages often contain vital information such as access code information (i.e. new key codes for each guest), URLs, contact numbers, internet access, local amenities, key-cards to facilities (gym and/or pool), local attractions (shopping, restaurants and entertainment), and instructions. There's also information regarding check-out instructions such as where to leave towels, bed linens, where to turn in key cards, remind them to remove access to their own Hulu or Netflix accounts (you'd be surprised how many forget), etc.
6. Online Reviews: Online reviews will make or break your efforts. They are as good as gold to the success of your rental property. You should always aim for 5 star reviews and that often requires responding to guests in a timely manner, reaching out to see if they are enjoying their stay, addressing any small issues that may arise. Monitor reviews and reply to them, even the less than satisfactory reviews. Remember, it's not personal. Keep your emotions in check and never, ever disparage your guests. This will only backfire on you!
7. Constant Maintenance: The biggest issue that often comes up in reviews stem from "cleanliness" of the unit. Your unit has to be spotless and well supplied. Property managers have relationships with cleaning crews that are sent to clean your unit as soon as one guest leaves and prepare it for the next guest's arrival. That also includes replenishing things like coffee filters, Keurig pods, paper products, etc.
There is a lot more but I'll stop here. Make no mistake, running STRs is a lucrative business when done right. However, managing STRs requires a great deal of time and attention. Your best bet is to rely on an experienced PM who can protect your interests and run your STR efficiently. It's well worth the expense.
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