Rental Property Investor · Pittsboro, NC · Member since 2016 · 97 posts · 85 votes
Hi all,
I'm looking to purchase a property in Cleveland that comes with a tenant and property management in place. I'm a long distance investor and have been down the "marginal" PM road before. I'm looking to vet IIP Management. Does anyone have any experience with them that they could share with me?
Tenants are always going to negatively review PM. They always find something to complain about.
As an investor I would be only concerned about can the PM pick up the phone when YOU want to talk to them. Don't be put thru an elaborate command prompt to reach someone.
We are an out of state Real Estate Consulting company and all of our Clients are out of state and country investors and each have joined with IIP Management. The transactions are stress free and all the Clients are pleased with this management company.
@Dave DeMarco or @Katie Sorensen - anything more about IIP Management? I have a property with them that has been vacant for several months now... Just curious as to what others experiences have been.
Jim - Get in contact with Anna. I had a heart to heart with her a few months ago and things have improved since then. I wouldn't hesitate to move if they don't make progress soon though.
i am leaning on using IIP solely based on recommendations from other OOS investors and my interactions with Anna. She's been very respondent and asked a lease manager, (Sharon) to come out this Thurs after we do inspections to look at the property. Of course, this is before anything has been managed so i should have more updates in the next 3-6 months here.
i am leaning on using IIP solely based on recommendations from other OOS investors and my interactions with Anna. She's been very respondent and asked a lease manager, (Sharon) to come out this Thurs after we do inspections to look at the property. Of course, this is before anything has been managed so i should have more updates in the next 3-6 months here.
@Katie Sorensen @Albert L. I am just closing on a Triplex in South Euclid and trying to finalize a property manager. I was curious if either of you could provide an update on your experiences thus far.
@Katie Sorensen see your also from Colorado, how long you been investing out in Cleveland? Would love to chat more about your experience so far.
There are tons of Property Management companies in the Cleveland area. Have you looked at reviews not just from the investors but from the tenants as well?
Tenants are always going to negatively review PM. They always find something to complain about.
As an investor I would be only concerned about can the PM pick up the phone when YOU want to talk to them. Don't be put thru an elaborate command prompt to reach someone.
Tenants are always going to negatively review PM. They always find something to complain about.
As an investor I would be only concerned about can the PM pick up the phone when YOU want to talk to them. Don't be put thru an elaborate command prompt to reach someone.
Oh, I totally agree that tenants often leave more bad reviews than good ones. The same can be said about almost anything you research using the review system. However, sometimes if the PM goes above and beyond you may see some pleasent reviews. I guess it is nice to read the 5 stars and 1 stars!
I went with IIP when I got my duplex. That one was already tenanted. I'm going with them again for the four-plex I'm buying because I already have them vetted. So far, I have not had any problems, but they are hard to get ahold of.
They've made several good hires lately and are invested in their staff and systems. It's been improving steadily for sometime now. PM is a very difficult business and has little reward for positives, and lots of uproar for negatives, but IIP Management does the best job in Cleveland and we continue to count on them.
One thing is for sure: the care about our properties, are honest and they work hard. (I guess that's 3 things, actually)
I don't have any experience with IIP Management from the property management side but I have heard mainly positive things about them.
I can tell you that I invest out of state in Cleveland and I use AllStar Management in Cleveland. They DO pick up the phone realistically about 75-80 percent of the time when you email them they always get back to you if not the same day then within 48 hours. As for vacancy....They are faster than the two other PMs I used to use in Cleveland. The most recent example is a vacant unit I had in 44105. They started advertising it 2 weeks ago.......It is now rented out.
You may say, what's so significant about that?
What's significant about this is that with two other PMs I've had when THEY started advertising in the October, November time frame in years past they had every excuse as to why "people don't move from October-March in Cleveland, it's too cold, nobody is calling us back, etc." AllStar just started advertising the property two weeks ago...at $100.00 MORE per month than the previous tenant was paying and it STILL just got rented out, deposit paid, background check done, lease signed, boom!
As for the weather, it was literally 21 degrees in Cleveland.
Well, I think I am about to make the switch to iiP Management.
I just can't go on any longer with my current management company. I have been patiently trying to get things to work with them for over a year but to no avail.
If anybody has any recent experiences with iiP Management, I would love to hear about it.
I bought my first Ohio property through @Allison Mueller and 20/20 Real Estate. There were some bumps with that, but they mostly made their end right. I think there may be some common ownership interests between 20/20 and IIP, but 20/20 recommended IIP Management and overall, that has NOT been a pleasant experience. The unit was supposed to come with a tenant, but IIP couldn't fill it for over 6 months. When they did finally find someone they tried to charge me the lease-up fee (remember, it was supposed to ALREADY have the tenant...). And then that tenant was there for just a month or two and left the place a mess and with unpaid rent. I used that opportunity to move my property management selection and things have gone well since then. After the new PM cleaned the place up and fixed a few things that weren't just right with the 20/20 rehab, my new PM found a tenant right away at a higher rate than what IIP had it rented for.
My last point in why you should choose someone other than IIP is that the tenant moved out on June 9th. They had unpaid rent so there was no deposit to return, but it is November and I have the property with a new manager, but IIP is stonewalling me on a deposit return. First it was "it will take at least 90 days to reconcile that account," to "oh, the person who does that is on vacation..." it's been 5 months. From very early on, I never felt that they were an advocate for my property and my money and it shows since I can't get it back!
@Dave DeMarco what concerns me about llP or any management company is, Do they have a crew to do turnovers? And I don’t just mean an easy cleanup and touch up. I mean a major paint and damage repair. As far as how long it takes to rent, you can’t base it on one property, one time. But over time of several years or several turnovers.