Which property management company are you working with, and are you happy with them ?

Question

The PM I was working with sold the company to a different PM. The service since the transition has been less than satisfactory. Looking to explore other options, would love to here how everyone's experience on the forum has been with their selected PMs.

Robert Ellis · Answer

I'm sorry to hear about the less than satisfactory experience you've had with your current property management team since the transition. It's essential to have a reliable partner in this aspect of real estate, especially in a dynamic market like Columbus.

One strategy I've found effective is to focus on properties currently on the market in Columbus where companies have pushed rents to higher-than-normal amounts. Often, these companies tend to be more strategic with their property management, as they understand the correlation between competitive leasing pricing and the bottom line.

By aligning yourself with a property management team in Columbus that demonstrates proficiency in optimizing rents and leasing strategies, you're more likely to experience a positive impact on your investment's performance. It might be worth exploring options that are excelling in this area in Columbus.

Wishing you the best of luck in your search for a reliable property management solution.

Allen Tracy · Answer

Donny at ERA has been really good to me.  Like with all PMs, you still need to follow up, double check numbers, and keep on top of things but overall for C class properties they've been good.

Gurjot Grewal · Answer

@Marc Rice @Brandon Goldsmith Thanks reafco team I have received  the list!

@Allen Tracy Thanks, I'll reach out to Donny!

@Jimmy Lieu Hey Jimmy, no Kevins around here lol. I'll send you a message.

@Robert Ellis Thanks for the practical advice. I messaged you!

@Michael Smythe I read through all parts of your blog. Have put together an interview questionnaire, thanks!

Michael Smythe · Answer

@Gurjot Grewal

Encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

To avoid going through the same poor experience, keep reading.

Even if someone give you a referral, don’t make the mistake of assuming that PMC will meet your expectations, just because they met the expectations of the referral source.

We also can’t believe how many owners hire the first PMC they speak with!

Then they complain their expectations aren’t being met!

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 – and they often select the first PMC they call!

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”:

https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

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😊

Brandon Goldsmith · Answer

I can shoot over companies my clients have worked with in the past for Columbus @Gurjot Grewal

Marc Rice · Answer

I'm happy to share over some referrals. I know two PM's in Columbus recently sold which is tough as a client. I like Donny at ERA Management a lot for all property types.

Jimmy Lieu · Answer

Hi Kevin, I have worked with a lot of great property managers that charge reasonable rates and provide excellent service, and I would love to recommend them to you. As an investor and agent here in Columbus Ohio, let me know if you have any questions or want to connect!

Bob S. · Answer

For Columbus contact @Remington Lyman he seems to be one the good guys,

Good luck

Which property management company are you working with, and are you happy with them ?

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