Updated over 13 years ago on . Most recent reply
best TYPE of property managers
Who are the best property managers? Here are the options:
1.property managers that are also SELLING real estate (example.Re/Max)
2.property managers that OWN real estate of their own in the area or out of town OR
3.property managers that JUST DO RESIDENTIAL property management and nothing else????
I feel like when PM is also selling real estate, they will pay less attention to your property if a big deal/sale is coming up, it's just human nature to be healthily egoistic.
PMs that OWN real estate of their own can be good, as long as they have just a few properties in your area, just enough to RELATE to the owner. By this I mean more cost-efficient vendor list, less expenses since it hurts our "bottom line". If they have 50 props in the area, they will be more interested in leasing their vacant units..
PMs that just do residential may be of benefit because there's no conflict of interests. But they can not relate to owners as much, and the service seems to be more "bureaucratic".
I am not satisfied with my PM, and I thought I found a perfect one, but when I started asking more questions... and I was not impressed.
So gotta keep looking. I do not want to change my current crappy PM to another crappy one. Once you sign the contract with them, you are in for a year, otherwise there are fees if you break the contract.