Would anyone be able to recommend a good property management company that operates in Cleveland, OH (Cleveland Heights to be specific)? I am an out of state investor and I have a SFH and a Triplex. In February I switched to a property management company recommended by the realtor who helped me with the purchases of my two properties. The current PM manages around 150 properties, has 5 members on staff, and yet remains completely overwhelmed. They have never physically visited my properties in the 4 months they have managed them, cannot answer emails or calls in a timely (less than 1 week) manner, make recurring costly mistakes on my income/expense report requiring me to double check their work, fail to pay my utility bills on my behalf on time causing late fees, and make no attempt to leverage their purchasing power with 150 properties to help their clients get even a decent rate for lawn and snow removal, handyman services, etc.
They charge 10% plus 1 month's rent fee to find a new tenant or $79 fee for renewals. I know no one cares about a property as much as the person who owns it and some of the things above are just a cost of doing business, but I thought I would at least be able to get someone who could collect money, balance the books, and get back to me in a timely manner in exchange for the money I pay.
@Ali Boone wrote a great article on the "The Not-So-Obvious Reason Your Property Management Company is Failing You" and I couldn't agree more. My PM has gotten too big and simply can't keep up. His office seems to be a revolving door with employees coming and going so that at no point is there really anyone who is fully trained. I'd happily trade the fancy website and property management software for competent staff focused on customer service.
Thanks so much in advance for any recommendations.
I am vetting a few different property managers for properties in the same area. I was recommended Shoreway Realty, and I have interviewed Realty Trust Services.
This may be a little late, but if you are still considering property management companies in the Cleveland area, please feel free to contact me.
I have been very satisfied with Midwest Realty just outside of Cleveland proper in Willoughby; ask for Jack and tell him I said hello (440 946 7023).
Not sure if they do management of SFH and if they do, what rate they charge. They certainly do not charge 10% + 1 month for MF.
So glad Trevor detailed this. I have had similar experiences. Would love to get CURRENT recommendations/experiences.
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