Investor · Phoenix, AZ · Member since 2015 · 3 posts · 2 votes
Can anyone recommend a Phoenix property management company that can handle low-income multifamily properties without setup fees and a reasonable monthly fee? I'm currently paying 7% of gross rents and I would like to continue paying around 7%.
Why are you leaving who you've got? 7% is below market average.
I was just about to suggest you.
@Dick Rosen is a very good property manager. I have to say I got extremely lucky when I found him here on Bigger Pockets. I own one property in Phoenix which Dick manages, and another in Tucson which is managed by a different company. Let me just say it is a world of difference.
Dick lets me know everything that's going on almost immediately. He was able to get my vacant unit rehabbed and rented out quickly, and for much higher rent than all of the other units. He always responds quickly to all of my inquiries and his management fees all seem to be fair, and actually are cheaper than a lot of the PMs in the Phoenix area. As I am a new landlord, he suggested smart ways to increase the cash flow like charging the tenants for the city sales tax, something the prior owner did not do.
Why are you leaving who you've got? 7% is below market average.
I was just about to suggest you.
@Dick Rosen is a very good property manager. I have to say I got extremely lucky when I found him here on Bigger Pockets. I own one property in Phoenix which Dick manages, and another in Tucson which is managed by a different company. Let me just say it is a world of difference.
Dick lets me know everything that's going on almost immediately. He was able to get my vacant unit rehabbed and rented out quickly, and for much higher rent than all of the other units. He always responds quickly to all of my inquiries and his management fees all seem to be fair, and actually are cheaper than a lot of the PMs in the Phoenix area. As I am a new landlord, he suggested smart ways to increase the cash flow like charging the tenants for the city sales tax, something the prior owner did not do.
Property Manager · Scottsdale, AZ · Member since 2015 · 113 posts · 77 votes
11y
I'm interested to hear why you're leaving your current manager as well Matt. I don't know much about the subject of PM but I am interested and would like to hear what to look out for and what issues to address in the future when hiring. Basically, I would like to learn from YOUR pain, so I have less chance of feeling that myself! :) Thanks in advance.
Why are you leaving who you've got? 7% is below market average.
I was just about to suggest you.
@Dick Rosen is a very good property manager. I have to say I got extremely lucky when I found him here on Bigger Pockets. I own one property in Phoenix which Dick manages, and another in Tucson which is managed by a different company. Let me just say it is a world of difference.
Dick lets me know everything that's going on almost immediately. He was able to get my vacant unit rehabbed and rented out quickly, and for much higher rent than all of the other units. He always responds quickly to all of my inquiries and his management fees all seem to be fair, and actually are cheaper than a lot of the PMs in the Phoenix area. As I am a new landlord, he suggested smart ways to increase the cash flow like charging the tenants for the city sales tax, something the prior owner did not do.
I'm interested to hear why you're leaving your current manager as well Matt. I don't know much about the subject of PM but I am interested and would like to hear what to look out for and what issues to address in the future when hiring. Basically, I would like to learn from YOUR pain, so I have less chance of feeling that myself! :) Thanks in advance.
Justin, communication is very important. Shoot an email out to a potential PM and see if they even get back to you. Call and ask if you can speak to the property manager; if they screen the calls and try to take a message, pass. They should be able to keep you in the loop without prompting them. Make sure to set criteria for tenant screening including the requirement to have a full time job with w-2s and not just 1099s or you may be surprised what you get. Be aware of the maintenance calls and make sure you understand what is being repaired, why and if it's really necessary. Some of these office folks have no clue about maintenance issues and cannot effectively communicate problems.