Homeowner · New York City, NY · Member since 2016 · 3 posts · 2 votes
Hey there BP Community!
Hope this note finds everyone well.
My wife and her sister have been renting out a single family home they inherited from their parents in Arlington, Virginia for over a decade. Both sisters live out of state and are pretty dissatisfied with their property manager experiences to-date. They really want to find someone to take proper care of their childhood home and manage their tenants in a way that adds minimal stress to both of their lives. I agreed to lend a hand in their search, so I'm reaching out to a number of folks on BP in the hopes that I can help jump start their management company transition.
Additionally, since both sisters are married, they are looking to explore the possibility of using an LLC to reduce their (and their husbands') liability to everything and anything house related.
If anyone can be generous enough to point us all in the right direction, that would be so very appreciated! Hope to hear back soon!
Real Estate Broker · Forney, TX · Member since 2019 · 1k+ posts · 399 votes
6y
Welcome to BiggerPockets! Truly nice to meet you. Good luck going forward! Hope the best for you going forward in 2020!! There is a section on BP that might have some PMs. I wish the best for both sisters in there quest.
Homeowner · New York City, NY · Member since 2016 · 3 posts · 2 votes
6y
Thanks so much for the resources Anthoney! I'll be sure to check them out.
Thanks so much for the follow-up question Joaquin, below is my understanding of what the sisters are most looking for in a property manager - if it's helpful to get into the specifics of what they haven't liked about their current experience, happy to do that offline :)
Someone trusted and experienced with repair work and troubleshooting: More specifically, someone who can help provide them with a menu of options regarding fixes to the home that range from the "absolutely necessary" to the "nice to haves" and who, given the age of the home, can recommend "stitch in time" repairs.
Help acquiring a high quality tenant: After achieving an understanding of how to maximize the rental value of the property, and making at least the 'absolutely necessary' repairs, they want to have someone reliably screen for a high quality tenant.
Ongoing property management to invest in the longevity of the property and field tenant maintenance requests in a manner that protects their interests as owners: As noted above, they're really interested in someone with experience managing older homes and the upkeep necessary given their age. Plus it is always great to know that a property manager will be responsive to tenant communication and requests, but it's also helpful for us to know that the manager has a team that can make accurate, real-time assessments about whether a given maintenance issue is the tenant's responsibility, or the landlord's.