I need a good property management company in north side and west side of Jacksonville. It is not the best area in Jacksonville. Any recommendations please?
Thank you so much in advanced.
@George Chung Try Calling Valiant ask for Charles Tripp, if he can't help ask him for a referral of who can. If the area is really rough you might also consider Jax Elite or Heritage for the management. Good luck
Thank you so much Chris
Stay away from Suncoast
You can start by going to www.narpm.org to 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. Regardless of how you find them, try to interview at least three managers
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, late rent, evictions, turnover, etc. 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.
7. Look at their marketing strategy. Are they doing everything they can to expose properties to the widest possible market? Are their listings detailed with good quality photos? Can they prove how long it takes to rent a vacant property?
This isn't inclusive but should give you a good start. If you have specific questions about property management, I'll be happy to help!
Thank you so much Nathan!
So funny. I interviewed suncoast and they told me their contract is for 2 years. I ran. I’m talking to greatjones.
Run away from Great Jones too....horrible company..
their business model is to sign up as many investors as possible and then sell to a larger company so they have no interest in taking care of your property, they only want to sell their entire company and make money... I had lunch with the owners approximately 2 years ago.. The plan is to sign up as many clients as possible and then sell to a larger national property management firm...they are just building up.for a money grab...
Damn it. Those were the only two companies who were willing to manage my portfolio. Do you have any recommendations?
Thank you so much Mark!
Valiant property management, heritage, or American realty and property management.
Thank you Mark.
Do you do construction in Jacksonville?
Yes, I am a rehaber. Licensed and insured... And I also do sub contracting for a lot of property managers and I know the in's and the out's....I know the good ones and the bad ones...
@Mark Fries - My name is Max and I work at Great Jones. Hope you and yours had a nice Thanksgiving. I do not believe you met with our founders, but regardless, we apologize if we gave you the wrong impression of our business strategy. Our goal is to build a time-honored organization which makes property management leaps and bounds better than the status quo, for investors, residents, and vendors like yourself. We have no plans to sell the company, and at our size, I am doubtful there is a national PM co that would purchase us (we are the national PM co). Please feel free to reach out to me direct. I would love to get more detail around your feedback, and share more about our vision. We always like to connect with other people in the space.
Thanks for reaching out and I think you are correct it wasn't the owners, they were some sort of territory vice president for the Southern region. And my gial is not to bash any company on a public forum I was just sharing my experience which was pretty involved having done a lot of turnovers and rehab with your company over the course of about a year and a 1/2. The mentality that was explained to me at the lunch meeting that I had was that you guys wanted to sign up every single person possible especially in lower class neighborhoods so you could meet a quota and then bill the owners for extensive amounts of rehab and whether they're not they got rented out was irrelevant. I still see empty homes and multi families that I worked on a year ago that are just sitting there..
@Mark Fries - totally understand you aren't trying to bash- it sounds like someone on our team may have been mistaken and really misrepresented our strategy- all good! In reply to the "bill the owners for extensive amounts of rehab"... unlike most pm companies, we make $0 on maintenance. No maintenance markups at all, we don't do maintenance in-house so we have no incentive to drive up repair and maintenance costs. We contractually obligate ourselves in our Management Agreement to make no money on maintenance. We also make $0 while the property is vacant, and so it is truly in our best interest to have all of our props cash flowing as soon as possible. We do manage many c class homes, as our team has much experience with these assets, but our portfolio spans a wide range of asset class. Happy to hop on a call and discuss more! Thanks.
Thanks for the detailed clarification and I don't think we need to get on a phone call it looks like I may have just met a couple bad apples..thanks Max!
Dude, Love you!! hahah YOu really know jax in and out!!! @Mark Fries