Can I let a brand new property management company management my properties? Or is it just a trust thing? for the first time I am thinking about letting my properties be managed by a property manager but the company I’m looking at currently only has 3 properties they are managing. Would it smart to let them manage it?
Property Manager · Charlotte, NC · Member since 2012 · 135 posts · 156 votes
6y
Hello @Jalal Khan, and welcome to BIgger Pockets!. I agree with @Aaron K. the company may be new, but maybe the manager has plenty of experience. Ask plenty of questions, as outlined in MANY posts in this forum. Make sure the company has a uniform way of conducting business and that your concerns are addressed in the contract. Don't assume you will get paid by the 15th each month, or that you keep late fees, or the 9% they charge will be all they charge. Search these forums for questions and make sure you and the management company are on the same page regarding expectations.
Just because a company is new, does not mean they will not provide you with good service. In fact, I bet they will go above and beyond to obtain and maintain your business, as every account is important to them. The alternative is the management company who is so well established they get lazy and put everything on cruise control. Best of luck.