Does anyone have any recommendations for good apartment building property managers in the Twin Cities metro area?
@Janel Y. I was hoping someone with more knowledge would respond since I have not used a property manager before, but I want to make sure another Twin Cities investor receives a response. From a local real estate investing group the property manager responses I saw were:
Neal James-Lawson with Dream Team of MN
Josh Brooks with Wits Realty
Twin Cities Leasing
Any other Minneapolis based people have better recommendations? Hopefully adding ‘Minneapolis’ to this thread will set off the keyword search for all of the other local Minnesota investors on this site.
@Janel Y. it all depends on the size of the building (number of units), type of property (senior living, sec8, C-class, A-class etc) and what you're looking to get for services ("the full monty" of tenant management, leasing and building management or just some certain aspects etc etc)
Even then it's not so cut and dry as to who's "good" at it, some are better at tenant placement and leasing and others are strongest at the on-going management and have good maintenance teams. There is a lot of factors to weigh.
I had a good experience with renters warehouse. The find a tenant cost was expensive (1.5 months rent for a 3 year lease.) but the ongoing costs were low ($90/mo for $2700/mo rent).but after a year and 2 repairs I found they really just provided “recommended vendors” and then I dealt with the tenant directly. So after a year we stopped using them and 5 years in they’ve been great tenants.
@Janel Y. I know a good property manager feel free to message me.
@Janel Y. I know a good property management group, too that I would be happy to recommend. Please pm me if you'd like to chat with them to see if there is a fit.
Thank you, @Corey Hawkinson , for taking the time to respond.
Thank you, @James Hamling . I'm planning to start with a smaller building - 5-20 units - in a B- or C-class area in Saint Paul or Minneapolis or surrounding suburbs, and I'd be looking for a PM that would handle the whole package, the "full monty" as you say.
Thank you, @Bill Brandt .