Rental Property Investor · Oakland, CA · Member since 2019 · 80 posts · 22 votes
6y
I am working with multiple PM in KCMO.
KC home rentals is a large company that manages over 900 units, while they have not been overly communicative they have responded when i needed and got my home rented.
Nothpoint while pricey has been very communicative to my emails and is managing my rental well.
Hunter properties is a small business and only takes on properties selectively depending on neighborhoods They are currently overseeing my properties in Raytown and are the best. Great service, fantastic communication.I wish they would take all my properties!
Flushing, NY · Member since 2017 · 23 posts · 14 votes
6y
I'm pleased with Voepel so far. They answer when I call and respond to emails the same day. I've heard that they don't accept new clients with fewer than 5 properties if they weren't referred from Bridge (but I have not confirmed this with them).
Voepel's current fees are: Monthly fee= 8-10%
Leasing fee : 50% months rent
Renewal fee : 25%
While fees are important, I'd have a list of questions to ask them to better informed on how they do things and if they align with what you want. I got mine from Chris Clothier's turnkey book, but I'm sure there are plenty on BP too.
Rental Property Investor · Oakland, CA · Member since 2019 · 80 posts · 22 votes
6y
I am working with multiple PM in KCMO.
KC home rentals is a large company that manages over 900 units, while they have not been overly communicative they have responded when i needed and got my home rented.
Nothpoint while pricey has been very communicative to my emails and is managing my rental well.
Hunter properties is a small business and only takes on properties selectively depending on neighborhoods They are currently overseeing my properties in Raytown and are the best. Great service, fantastic communication.I wish they would take all my properties!
Hi @Johanna R. curious too which firm did you choose in the end?
Anyone here has some experience with HomeRiver Group Kansas City? Thanks.
Warren- I use 816 Property Management in KC. I am an out-of-state investor and they have been extremely helpful in all aspects of property management. Reach out to @Nicholas Helm and he can help you!
Wow, you're potentially setting yourself up to get screwed!
How you ask?
By focusing solely on the pricing you've listed.
Read below for advice:
In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.
It's often a case of not doing enough research, as they don't know what they don't know!
Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.
So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.
EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
This also leads owners to ASSUME simpler is better when it comes to management contracts.
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord. Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.
We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
Thanks a lot @Jake Klima, I am an out of state investor as well. will talk to 816 property management.
I am currently using HomeRiver Kansas City, the experience so far is not good. I am wondering anyone else here heard something about them or had some experience with them as well. Quote from @Jake Klima
Investor · Member since 2022 · 157 posts · 162 votes
4y
I've been using Home River Group and there have definitely been communication issues… as in taking an unreasonable (in my opinion) amount of time to answer questions. Their fees are withdrawn quickly… there answers not so much in my experience. Evaluating other options and as REI is newer to me… not sure if slow responses are par for the course.
I've been using Home River Group and there have definitely been communication issues… as in taking an unreasonable (in my opinion) amount of time to answer questions. Their fees are withdrawn quickly… there answers not so much in my experience. Evaluating other options and as REI is newer to me… not sure if slow responses are par for the course.
Hi @Georg Red, have they yet managed tenant turnover for you yet? I have three turnover with them in about 1 year time for my fourplex. It is crazy that the shortest time for them to place a tenant is one and a half month. One of my units are sitting in the market for almost three months and they still cannot lease it out. the properties are in excellent conditions and very good neighborhood.
Investor · Member since 2022 · 157 posts · 162 votes
3y
@Warren Qi I recently closed on a vacant property and have chosen to use my realtor to help place tenants as opposed to Home River Group... my thought being that if they're slow to respond to me they may also be slow to respond to prospective tenants... learning as I go and so far the realtor has had the posting for about a week and a half in late fall/early winter and there are multiple applicants to sort through.
Investor · Campbell, CA · Member since 2016 · 78 posts · 33 votes
3y
@Johanna R. I had a very bad experience with Voepel. I went to visit my properties and found plenty of repairs they charged me for, that were in fact never done. Needless to say I terminated them
Investor · Campbell, CA · Member since 2016 · 78 posts · 33 votes
3y
@Johanna R. I currently work with KC home rental and overall have a good experience working with them. To me what is most important is responsiveness and effective problem solving. They do both well
@Johanna R. I currently work with KC home rental and overall have a good experience working with them. To me what is most important is responsiveness and effective problem solving. They do both well
Hi @Amir Navabpour, thank you for sharing your experiences. Are you still using KC Home? If you are, how have been your experience since then? do you think they could always find competitive vendors for your maintenance, particularly the make ready project (compared to management fees, these are the biggest cost of a investor, and a key part to separate good PMs from bad PMs, in my opinion, this is the cost item that PM and owners have conflict of interests)? how about their effectiveness in placing good tenants?