I am looking for a reliable Property Manager in the Durham, NC area. If anyone has somebody they would recommend I would highly appreciate it.
@Caleb Heimsoth thanks a lot, I'll have to ask her.
@Phillip Jones I just began offering property management services after 4 years as a commercial property manager. Feel free to send me a pm.
I've had a few interactions with a property management firm based in downtown Durham called Acorn + Oak and was impressed by them. It's a smart, young and energetic crew. They're more full service and charge accordingly so depends on what level of service you want. Their website is worth looking at.
@Eric Weireter will do
@Greg Fitch thanks a lot. I actually spoke with them today over the phone. Seemed good to me as well.
I have had one SFR under management with Acorn & Oak at 10% per month for about 18 months. My experience with them has been very good.
@Phillip Jones - +1 for Eric Weireter - great to work with!
@Phillip Jones I would definitely recommend the property manager I use on my townhouse in Raleigh (I bet she'd work in Durham too). Chilon Anderson at Above All Property Management has done a great job for us. She placed a tenant that's stayed for over 3 years now! :)
You can start by going to www.narpm.org and search their directory of managers. These are professionals with additional training and a stricter code of ethics. It's no guarantee but it's a good place to start.
1. Ask how many units they manage and how much experience they have. If it's a larger organization, feel free to inquire about their different staff qualifications.
2. Review their management agreement. Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.
3. Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers. It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees. Fees should be clearly stated, easy to understand, and justifiable. If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee. Don't be afraid to negotiate!
4. Review their lease agreement and addendums. Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.
5. Don't just read the lease! Ask the manager to explain their process for dealing with maintenance or problem tenants. If they are professional, they can explain this quickly and easily. If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff.
6. Ask to speak with some of their current owners and current/former tenants. You can also check their reviews online at Google, Facebook, or Yelp. Just remember: most negative reviews are written by problematic tenants. The fact they are complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.
I hope this basic guide helps. If you have specific questions about property management, I'll be happy to help!
Hello, I messaged you at your inbox.
@Phillip Jones It's important to reach out to multiple management firms to get competitive proposals but more importantly, aligning best with your goals and needs. I'll see a message for more info.