Interested in a Property Managee (North Centra Ohio)

2 Replies

I live in Ohio (near Cedar Point/Sandusky area). I have 8 rental properties and also work a full time job. It is very difficult keeping up with all the rentals while working my 40 hr engineering job.  I am considering hiring a property manager, to relieve so of my stress. My question is......Can I hire a contractor friend as a Property Manager? Or do property managers have to be licensed/trained as "Property Managers"?  Does anyone know what I should expect to pay for a good property manager?

Hi, @Tracey Thornton , technically, property managers need to be licensed agents in Ohio if they're running a PM company. Read the real estate regulations closely to see what constitutes running a PM company. Of course there are people managing a few units for busy people like you who are not agents. Just check the rules closely -- especially if you are considering growing your portfolio. 

Other things to think about: would a contractor still work their own projects in addition to managing your rentals? Would you require them to do all of the tenant-facing work...running apps and doing background checks and dealing with maintenance calls? Can you farm out the tenant-facing stuff to an online system of some sort, and just pay your contractor friend on an hourly basis to do the maintenance work? Best of luck!

Kim Younkin

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