Columbus Ohio property manager!

5 Replies

Hi,

kc here, looking for my first property in Columbus Ohio. I am an out of state investor and am looking for a property manager. I am looking for a manager willing to help me understand neighborhoods and help with expected rents as well and manage the property after purchase.

Welcome to Bigger Pockets! I am a native of Columbus Ohio. I have invested in properties in California, Chicago, New York City and Columbus Ohio. Building a local team is important, always happy to assist.

You should read Long Distance Real-Estate Investing by @David Greene in the BP bookstore. He has a lot of great advice on how to develop a team in another market. You should definitely be looking for a property manager that is also an investor and understands things from your perspective.

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!

Originally posted by @Casey Boerger :

Hi,

kc here, looking for my first property in Columbus Ohio. I am an out of state investor and am looking for a property manager. I am looking for a manager willing to help me understand neighborhoods and help with expected rents as well and manage the property after purchase.

 I'd get an agent as well. Managers honestly are tied up in the day to day management and a lot don't sell and do brokerage. Some do but you really need a specialist for each. I'd have a separate manager and agent that sells you properties in columbus because you also get two different inputs as well. I'd start with the people who are active here on biggerpockets. great professionals in the industry all over here.