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.
@Doug Wade Agreed. I have 2 properties with them. They handled rehab on both, although I didn't own them at the time. That being said I wouldn't trust them to handle a turnover. I base this on city inspections that I needed done on a 3rd property I had with them that were plagued by delays including multiple no shows. Also took 5 months to rent a rehabbed property (an ABSOLUTE ROI KILLER). Nothing happened until I got involved with advertising and applied some pressure. Once that happened the property was rented relatively quickly.
It should be stated that I am still with IIP, have had experience with multiple PM’s in different markets and that I do understand the challenges for property management companies. I give A LOT of leeway to them. It should also be stated that they have also done some positive things in caring for my properties that are reasonable and smart.
I will leave my current properties in Cleveland with them in light of staff changes that have been made, but new purchases will be placed with a different company so that I have some competition and a gauge of performance.
I stayed in a rental through IIP Management LLC for 2 1/2 years. I had consistent flooding in the basement and potential mold. I submitted work requests for them to look at the issue and while they did send out several contractors nothing ever got repaired. The different contractors just kept diagnosing the problem. Then the back door was not shutting easily. A contractor came out and said it was due to water coming in and shifting the door. He said there was cause for concern because it was located near the kitchen which could cause mold. Still, nothing was ever fixed although I followed up several times. Finally I ended my lease and moved out. I scheduled my check out date however no one ever showed. I called and emailed the company several times and no one responded. Finally after I emailed an address where I needed the security deposit returned they responded asking me to mail the key (mind you I had already been waiting at the house to give it to them in person and had left a voicemail saying I could leave it in the mailbox of the house I moved from). So I agreed even though that meant paying for the tracking. I followed up with them emailing them letting them know I sent it, then they texted saying they received an empty envelope with no key. Who sends an empty envelope??? All just to avoid giving me back my security deposit. And this is when I've been an excellent tenant. Always paying on time and paying the additional fee for month to month. Well now I'm preparing for legal matters. I encourage you to avoid working them at all costs! It's not worth it.-
I stayed in a rental through IIP Management LLC for 2 1/2 years. I had consistent flooding in the basement and potential mold. I submitted work requests for them to look at the issue and while they did send out several contractors nothing ever got repaired. The different contractors just kept diagnosing the problem. Then the back door was not shutting easily. A contractor came out and said it was due to water coming in and shifting the door. He said there was cause for concern because it was located near the kitchen which could cause mold. Still, nothing was ever fixed although I followed up several times. Finally I ended my lease and moved out. I scheduled my check out date however no one ever showed. I called and emailed the company several times and no one responded. Finally after I emailed an address where I needed the security deposit returned they responded asking me to mail the key (mind you I had already been waiting at the house to give it to them in person and had left a voicemail saying I could leave it in the mailbox of the house I moved from). So I agreed even though that meant paying for the tracking. I followed up with them emailing them letting them know I sent it, then they texted saying they received an empty envelope with no key. Who sends an empty envelope??? All just to avoid giving me back my security deposit. And this is when I've been an excellent tenant. Always paying on time and paying the additional fee for month to month. Well now I'm preparing for legal matters. I encourage you to avoid working them at all costs! It's not worth it.
The tenant moved out 6 months ago, I transferred management responsibility to a different property manager, and they still have not closed out my account and sent me the balance. Terrible...
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.
Are you still satisfy with All Star Property Management?