Are there any property managers/companies that can service the entire state of NC?
Hmmm. Even if there are...🤔...my mom a pro PM near Pinehurst (@Beckie Pahner ) would probably advise against it. She says that property management (well, how most people do it — poorly!) is about as good as the proximity that they live to the properties. Meaning, will the company really go the distance for you? Literally.Will they, say, go back out to the properties to show 3 extra people who have applied last-minute who might be the best candidates if they have someone “good enough” already; trying to get you the BEST candidate or the “easiest, best”... Or will they ensure the filters are being changed on your HVACs as often as they should (which can be important because it’s one option for managers to enter legally, to make sure there’s not other more egregious breaches occurring inside the units like unauthorized pets, etc).
Most managers are in fact humans, LOL, and will act in their own best interests first. She and good managers like her who run their own, small shops enjoy being close by the properties so that when pipes freeze (like they have been ALL OVER NC this week, or when a hail storm comes thru and u have insurance claims in ALL your roofs in one town - yes, true story!) that they can easily get to them all (or their network or handymen can). **Those are the times you really want the BEST managers who can be eyes&ears-on-the-ground for you at all of your properties, themselves. If you have one only manager for all Raleigh properties, and one for all Asheville, and one for all Charlotte for example...can they really be running all over each city when YOUR properties are the ones flooding!?
If you do if that way, one company for all, I would think it’d have to be a BIG operation with loads of managers, per locale...
Anything to add, Mom? (If u even have time to answer - cause I know you’ve been swamped this week...)
Originally posted by @William M. :
Are there any property managers/companies that can service the entire state of NC?
The biggest landlord in the state is American Homes 4 Rent. They don't have a single PM but use local licensed people or their own employees. From their annual report (page 2): "Our property management platform has local leasing agents and property managers in each of our markets. Corporate-level functions are centralized, including management, accounting, legal, marketing and call centers to handle leasing calls and maintenance calls. These centralized services allow us to provide all markets with the benefits of these functions without the burden of staffing each function in every market. In addition, by having a national property management operation, we have the ability to negotiate favorable terms on services and products with many of our contractors and vendors, including national contractors and vendors. We have completed the internalization of 100% of our property management functions, which we believe provides us with consistency of service, control and branding in the operation of our properties."
So, in some ways, the answer is 'yes'. But the reality is they (AH4R) won't manage for your property. So if you are looking for such a person, the odds are close to 0.
Connie Bhimireddy has made a very valid point about the need for the property manager to live as close to the properties being managed as possible. Example: Would you want a property manager who would not be willing to go to the property to check out simple repair requests first, before calling a professional to evaluate the problem? Say for instance a new tenant calls to say that the dishwasher was not working. The tenant tells you that they are pressing all of the buttons, and it won't start the cycles, etc. Because you as the property manager live so close to the property, you would not mind saying, "well, let me stop in and look at the dishwasher before I call and schedule an appliance man to come for your problem. You go to the property and find that there is a switch on the wall that must be in an up position for the dishwasher to receive power. The property manager has just saved the owner a minimum of $95 for an appliance call. Or, a tenant calls to say that the kitchen disposal is not working. A good property manager should respond that they are willing to take a first look and try to resolve the problem without calling an appliance man. The property manager goes and finds that a screw was wedged between the rim and the blades, removes the screw, pressed the reset button and the problem is solved without calling an appliance man.Or, a tenant calls to say that the bedroom electrical wall outlets aren't working. You go there and find that the wall outlets are controlled by a wall switch. Or they say the bathroom plugs are not working and you go there and find that the GFIC is tripped because they plugged in the curling iron, hot rollers, and then tried using the hair dryer and overloaded the circuit and the GFIC tripped, and they do not know what that is to even discuss it over the phone. You go and reset the GFIC and everything works fine, and you spend a little time teaching the tenant about amp loads, and it doesn't happen again. Or you get a call from a tenant that the dryer is not working. They tell you that they can see that the clothes dryer is on and receiving power, but, it doesn't get hot and dry the clothes. You go there and you find that the dryer is set to "air" dry, not on a "heat" setting. Toilet problem calls may be the most common call, and many, many times these type problems are the easiest to solve with a quick trip down the road to the property to find that a toilet chain is hung up, or a deodorant tablet has moved in the bottom of the tank and is now stuck between the flapper and the bottom outlet causing the toilet to run, or the chain came off the flush handle, where again, just a short trip down the road by the property manager could have solved the owner's problem. Tenants are not home owners and many times will not even attempt to solve their own problems. They do not have the knowledge or motivation to solve a problem. A good property manager should be able to save an owner hundreds of dollars a year by saving the owner the cost of unnecessary service calls. When the property manager lives just down the street, they will not mind checking out simple problems first, as a part of their duties to the property owners, and they will more readily act on behalf of the owners, as if it were their own property, or their own pocketbook. If the property is even one half hour away, they will more than likely not want to take an hour of their time to travel back and forth to the property for the owner, and they will just make a "one" minute telephone call to a service provider, and let the owner pay. I could list so many other simple problems that I have been able to solve by making a trip to the property "first" before calling a service person, but that is "only" because I live so close to the properties that I manage.
Thanks to all for your kind responses! I will take into consideration all of your viewpoints. I see the importance of the property managers being in close proximity to the properties they manage. I am working with a investment company that purchases properties nationwide, and for NC I need property managers for properties we may own all over the state. So I see that I will have to source reputable PM's throughout the state.
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Absolutely. You may need a different property manager for each property you own. Otherwise, any simple repair request will be solved by a professional, and every simple repair will cost you professional rates.
@Beckie Pahner you sound like exactly the type of PM I would love to work with. However, can you pass my "hit by a bus" test? That is, what happens if the PM gets hit by a bus and can't manage the property? Is it a large enough company to have backup people?
Also, you had freezing pipes lately? Ugh, that's the type of thing I'm looking to avoid after investing in the freezing Northeast. Do tenants expect you to plow the snow as well in NC?
I am a one person company...
so I won't pass your "hit by a bus" question.
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