Updated over 5 years ago on . Most recent reply
Property manager recommendation
Hello all my BiggerPockets. Reaching out as my company is relocating me and I have been trying to find a property manager to manage my property in cutler bay fl. Any recommendations would be greatly appreciated. I found one property company but they are asking me to give them the exclusive rights to sell my property and add them to my insurance policy. Any help? Thanks.
Most Popular Reply
@Jeffrey Bass there are plenty of property managers around. In my mind, one thing that disqualifies a PM are stupid fees like account set up fees, monthly convenience fees for the tenant to pay online, and where late fees are kept by the PM and pet fees are split 50/50 with the PM. My first PM company got me on some of those, the second one got me on the others. On to my third PM for half my doors, I'm doing the rest.
Another thing to look for in their contract is where you terminate the contract 6 months in (say for some crazy reason like you are unhappy with their service), yet the contract says you have to pay for the balance of monthly fees. Effectively locking you in to poor, poor management.
You've got to understand that a PM company is not there to provide you with a service, they are there to create an income for themselves. And if you happen to get good service with it...well heck that's a bonus.