Fayetteville, NC Property Management Company

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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
7y

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 addenda. 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!

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    7y

    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 addenda. 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!

    The DIY Landlord Book4.7248 Reviews
    WebsiteView Page
    1Reply
  • Christian Verges
    Fayetteville, NC · Member since 2018 · 7 posts · 1 vote
    7y

    @Nathan G.

    I am about to start vetting local companies for my primary residence that will soon be a rental. Great advice I will certainly use it. Thanks!

    0Reply
  • Craig Bellot
    Property Manager · CT · Member since 2014 · 687 posts · 329 votes
    7y

    Hey, @Samuel Lynch, I don't have any recommendations for the area but I do have a list of some questions to ask while you are looking for your next property manager.

    How long have you been a property manager?

    How long have you been a manager in this area?

    How many vacancies do you have right now? 

    Out of how many total units under management? 

    What is the average length of time it takes to fill a vacancy?

    What is your late rent policy?

    What percentage of tenants do you have to evict?

    How does the eviction process work here? 

    What are your management fees? 

    What do you charge for recruiting new tenants? 

    Do you charge for monitoring and maintaining vacant units? 

    What are my guarantees? 

    Do you also market properties as a broker? 

    If I decide to sell my property, do I have to list it with you? 

    Can I see some of the other properties you manage?(Of course you will probably not be able to see inside rented apartments or offices.But you should be able to see common areas and grounds.) 

    How do you market your apartments? 

    Do you recommend special incentives for tenants? 

    If I want additional marketing for specific vacant units, how would we arrange that? 

    How do you screen prospects? 

    How do your tenants contact you? 

    Let me know if you have any questions. Thanks! -Craig

    0Reply
  • Andrew K.
    Rental Property Investor · San Antonio, TX · Member since 2011 · 266 posts · 158 votes
    7y

    @Samuel Lynch I have a recommendation and a list of companies to stay away from! Feel free to PM me for details. More than happy to help!

    -Andrew

    0Reply
  • Justin Tahilramani
    Rental Property Investor · Fayetteville, NC · Member since 2014 · 884 posts · 670 votes
    7y

    @Samuel Lynch - I have a great PM in Fayetteville. PM me if you want contact info.

    0Reply
  • Jon Bobb
    Investor · Columbia, SC · Member since 2016 · 1 post · 0 votes
    6y

    @Justin Tahilramani

    Hey Justin. Just finished rehabbing a BRRR and would love info on a solid PM in Fayetteville!

    Thanks

    Jon

    0Reply
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