Advice on property management

[Alex Shaughnessy]

Good morning BP. I have been struggling with this 1031 I did in 2021. I kept the property management company that was in place. They ended up getting bought out by current one (CJ/Results). I have not had any luck with these properties. Some things have been acts of God (flood, fires). But right now, it feels like I am solely holding these properties just to pay their maintenance company. 

I was used to dealing with one person for property management. This company has one person depending on situation (marketing, maintenance, leasing etc). Every morning I am reluctant to open my email because there is another issue. I would like to hold these properties and see them stableized. I am not sure if changing property management would help. But it sure feels like it might.

Does anyone have experience with above mentioned company? Does anyone have any referrals to any prop management to see if I can get further guidance? Thank you

[Adam Bartomeo]

@Theresa Harris

That doesn't make any sense without more info. My doctor tells me that I have high cholesterol, clogged arteries, that I am overweight, and I need a bunch of expensive tests. So, I should fire him because I don't take care of myself? Wrong. If this is a bad purchase, then that is on the owner not the PMC.

@Alex Shaughnessy Unfortunately, I don't know this company, nor do I have any PMC's to recommend in that area. I would recommend getting some trustworthy eyeballs on the property to verify that the issues coming up are valid and the costs are in line. Most well-established companies will operate in depts like you mentioned the new company does. It is a much better model than the older version, one person handles everything. You may want to seek out a smaller company if you don't like their business model.