I'm new to real estate investing and I'm looking to get some good referrals for property management companies in the Atlanta area (I live in Gwinnett county). Has anyone used "Renters Warehouse" I'm been reading mixed reviews, so wanted to get your thoughts.
I decided I don't want to self manage and curious what a reasonable fee would be for a good property manager.
Aurelio Kim please check out NARPM, the National Association of Residential Property Managers. You can look for seasoned, experienced property managers by state and area.
I always tell people, cheaper isn't always better. Please conduct your due diligence. Make sure to see a management contract and what is and isn't included in the fees.
Ask how long it takes on average to get their homes occupied, how many evictions have they done over the last twelve months, when do you receive your income, do they perform professional inspections, the list goes on and on....
I agree with the above post,.... definitely 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?