Hi,

If you know of a good property manager in Indiana (Hammond and surrounding cities), can you please share.

Best regards,

Pav

Property Boss

Rose Realty

Q3 

Rent Caps 

I manage my properties from a far, there may be very little that you need management assistance with if you have the time.

Hi Paris,

Pretty interesting. I find sourcing tenants the biggest challenge. Do you use craigslist or local classifieds to post the Ads. Shouldn't there be someone to show the home(lockbox setup etc). 

@Adrien - Thanks for the list.

Best regards,

Pav

Pav,

Call Karen at Property Boss in Hammond. OM me if you want her number. Tell her Scott sent you.

Hey Pav Bay, 

        Sourcing tenants has not been a problem for me, my rentals never go vacant for more than a week in any state.  Try using Zillow and apartments.com.  Someone to show the home can be a local realtor that has additional property management services you can pay for individually.  

Respectfully,

Paris Johnson Parada

Thank you so much Paris. Appreciate your guidance.

Yes definitely call Property Boss!! 

How can one get into property management with no experience. I starting my real estate classes, hopefully mid February.

what are going rates PMs charge in that area? 

10% + 1/2 month rent as search fee

@Pav Bay Curious as to who you ended up going with or if you have chosen yet? If you ever need any help please let me know. 

Property Boss charges the industry standard rate of 10 percent of gross collected monthly rents, however we will give price breaks with say 10 or more units... and half the first months rent with a $400 minimum for placing quality tenants.

I went ahead with Property Boss for the most recent property. I just got a note from Karen that a tenant is found. Decent turnaround. Was trying to hedge my bets and see who performs the best.

I have two other with another agency. One of them may get a tenant this week. Other one is still open. These properties are on market 3-4 weeks more than the Property Boss one. Then again, I need to factor in Christmas break....

Hey Pav glad to meet you, I am Karen's brother Glenn. Glad to be of assistance to you!! I am confident that the better bet is to get those other two units into Property Boss hands asap!! Are you still buying units here, and are you working with a Realtor here in our market? Property Boss is a one stop shop as we like to say... I offer free pre-purchase consultations if you're ever in need of a BPO or an eagle eye on a prospective purchase. 

Poor choice and commitments :) No more mistakes...

Originally posted by @Pav Bay :

Poor choice and commitments :) No more mistakes...

 What did you mean by this?

@Pav Bay Hey Pav, how has your experience with Property Boss been? Good, bad or ugly?

@Pav Bay

I am also considering property boss. What has your experience been?

Kyle, It's been a couple of years - a smooth ride so far. They seem to be the best in that neighborhood. You may want to keep an eye on the expenses once in a while to ensure accuracy. 

There's a new mgmt company in NWI it's called Liberty Property Mgmt LLC. their philosophy is quality vs quantity. A much better option in my opinion.

Glen-You were promoting Property Boss only a few short years ago. Did you used to work for them and start out on your own? 

Originally posted by @Pav Bay :

Kyle, It's been a couple of years - a smooth ride so far. They seem to be the best in that neighborhood. You may want to keep an eye on the expenses once in a while to ensure accuracy. 

Pav-How do you keep an eye on expenses? A.G. you get your monthly summary of rent - some maint expense-how do you know that the maint actually occurred? Is that just part of the risk associated with using a property manager? Also-Do you argue and negotiate the billing of maint if you think it is excessive? Would appreciate any feedback-never used a prop mgt company before.

I was co owner of PB, a few years ago I was promoting it. Not anymore... The only thing I can say is Liberty Property Mgmt focuses on quality, and PB focuses solely on quantity. which would you think would deliver a better Mgmt experience...