Hello, I'm looking for an alternative to the current property management company I'm using in Pleasanton, CA. I've been using onerent.co and I've been extremely disappointed by the customer service: they send you automated emails asking questions (e.g., tenant renewal), you answer and never hear a response back. Nobody to be found over the phone. Their "accredited technician" for an AC repair costed me 4x the normal price. I could go on and on. I have to admit that it's cheap: 3.5%, but you get what you pay for.
I'd be happy to consider alternatives, preferably web/app based since I live 400 miles away and ideally I'd like to do everything over web/app/email. I looked at Cozy and it looks great, but they don't do in-person things like showings and move in/out.
Thanks in advance!
Your mistake is a common one. If you think it's expensive to hire a professional, try hiring an amateur.
Go to www.narpm.org and search their directory.
If you make a mistake and hire a bad Property Manager, it can ruin you for life. Learn the difference between a good PM and a bad one, try to interview at least three, and then make an educated decision. Remember: the PM with the highest fees may be the one that makes you the most money.
Things to do:
1. Review their management agreement. Ensure there are no hidden fees!
2. Calculate the total cost for a year. Some will charge a percentage of rent and nothing else. Some will charge a percentage each month but also a start-up fee, a leasing fee or lease renewal fee each year, administrative fees, maintenance fees, etc. Every fee should be fully disclosed!
3. Review their lease agreement and addendums.
4. Interview them about how they handle maintenance, late rent, unpaid rent, lease violations, evictions, etc.
5. Ask to speak to some of their current owners and tenants.
6. Google them and see what kind of reviews they have.
Very valuable advice, thank you!
Join the Largest Real Estate Investing Community
Basic membership is free, forever.