Looking for Awesome Property manager in Independence, MO!!
Hey BP friends,
I thought I had done my homework so well, Investing out of state, and finding the property manager first!! So now I'm about to close on the 3rd of three decent four plexes in Independence, meeting the crazy timelines of a 1031 Exchange, and my 'turnkey, fully rented' units are half empty and I'm not hearing from the property manager I have contracted with and interviewed for 8 months! Except to hear that they want $950 to change out a water heater (that their inspector found no problem with a few months ago) that sounds like it only needs a $75 thermocouple!
They sounded so impressive... I really like Kansas City, but I sure hope I can find someone decent to manage the places; I'm half tempted to go there myself and do the leasing, at least, but that was my whole idea for hiring management: let them do it! Unfortunately, that will be sucking my reserves right down the toilet, if they don't get something going soon.
When interviewing, I thought a full months rent was a bit high for lease up fees, because where I have been landlording, going rate is 1/2 month's rent... So I mentioned my thought, and they lowered it to 80%; I thought, well, at least they are working with me, so OK. Now, after a month and NO success filling my empty, newly rehabbed units in a very nice area, she responds, "maybe you should offer $100 extra incentive to our lease up people to get them thinking creatively." So apparently, the fees I've contracted for don't include creative thinking, and maybe not even getting them off their wrinkly bottoms to go show the units!
Anyone got the perfect leasing agent/prop manager? let me know!
thanks!