In need of management and subcontractors for Toledo Portfolio.

7 Replies

@Adrian Ayub , there are many property management companies in Toledo, each have their own strengths and weaknesses.

My own company is LaPlante Real Estate, as long as your properties are well-maintained and marketable we won't have an issue managing for you...that said we aren't the cheapest in town but our office phone is staffed, emails answered, and we have a continuous presence in our neighborhoods for maintenance, rental and sale/purchasing.

@Adrian Ayub

I would look up NARPM and start with them..Below are some questions I would think would be a good starting point for you to see who really treats their company like a business or a hobby.

Questions to Ask prospective management companies

  • What are your average days on market for vacant homes?
  • What is your average rent amount for all properties managed?
  • What is your average work order cost for the owner?
  • What is your average make ready cost for the owner?
  • Are all my invoices uploaded to my owner portal?
  • How do you advertise your vacant units?
  • Do I receive video of my pre and post make ready?
  • Do you have a setup fee?
  • Do you upcharge on maintenance?
  • When do you make owner payments? How often?
  • Are you a Certified Property Manager?
  • Are you a member of NARPM?
  • What is your Guarantee?
  • Do you provide move in and move out reports
  • How many pictures do you take of the property prior to tenant moves in and after the tenant moves out
  • Do you get weekly reports when the property is vacant what prospective tenants are saying about your home
  • Do you provide monthly newsletters to your tenants
  • Do you hold investor education classes to help me become a better investor
  • Do you have single point portfolio based management services?
  • How many properties do the owners actually own themselves?
  • What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuits
  • How familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?

@Steve Rozenberg - Hi Steve, I have been aware of the NARPM designation but haven't seen any real value in mailing $295/yr to use a the affiliation. I don't see any professional qualifications required beyond simply holding an Ohio Salesperson License (our Realtor's license)...so to me it's just another check to be mailed away and letters added onto my name.

I'm located in Toledo, OH - Northwest Ohio...my nearest NARPM chapter is in Pennsylvania some 4 hours West of me. I don't have one in Ohio, Michigan, Kentucky, or Indiana...and truly oddly enough Illinois.

If this group is important to the profession of property management, how are there no Chicago chapters???

I am an Ohio licensed broker so I'm honestly asking...any company or manager here in Toledo which sports the NARPM I guess can just pay the money and use the acronym but as a guy with a locally active REIA (I'm vice president headed into my third year), state REIA (I was secretary), my local realtor's association, and presence on several public advisory boards I fail to understand why anyone cares about the N-A-R-P-M acronym so greatly.

To me actual presence in the market and participation in the community should be the real value in a management company vs acronyms...I have my MBA, does that mean I am to be trusted in business? 

I will happily acknowledge that I have mulled over forming an NARPM chapter here in Toledo, again I'd have to figure out the value of such an effort.

It feels like the NARPM designation has coastal presence but doesn't have any benefit on the US interior.

@Andrew Fidler   You are correct that you do not need to be involved in a trade organization like NARPM to be a successful PM but there is a definite value in the group.  I am a member and at the last Broker Owner Conference I learned a few things while networking at lunch that caused me to make some significant changes for the better in our operation.

If you are interested in state chapter, there are about 20 of us that have met a few times about trying to get this done.  Unfortunately, NARPM requires you to have 100 members to recognize an official chapter.  Message me if you would like to be added to this effort.  We have a long way to go so not sure how far we will go but every bit of support gets us a little closer.

Just PM'd you, would love to discuss a chapter further. 

Personally, I've grown well beyond the REIA group level and have been trying to determine my course and affiliation interests.

I will be in Cleveland tomorrow or Tuesday if you have time to meet up.

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