Seeking Property managers for Toledo Ohio
New to Real Estate · Bergenfield, NJ · Member since 2021 · 31 posts · 23 votes
Seeking Property managers for Toledo Ohio
Most Popular Reply
Architect · Memphis, TN · Member since 2020 · 259 posts · 144 votes
4yPlease do your research! Oftentimes I find that owners are not doing their research, not asking the right questions, and focusing on everything but the right thing. What does any of that mean?
First, get the numbers out of the way! Ask the property manager to show you the numbers! Looking at a sneak peek at the property management services is always a great start. Those numbers could be the following: annual vacancy rate, annual maintenance cost, percentage of residents that renew their first lease, length of resident stay, and number of properties under management.
Secondly, you want your property manager to have a team of experts and local contractors. That team of should be more than capable of conducting thorough assessments of structure, systems, and features of every house. This concept helps draw attention to functionality and consistency. Every resident should feel welcomed into a clean, presentable, and not just some house. That starts with leadership at that company you select to protect your investment.
Finally, reputation is important. Your property manager should know property management! Not all property managers are going to tell you no. That's right.... be careful and try to avoid the who doesn't care where they manage, what they manage, how they manage, etc. That's why you are wanting to be bagged by a company with a reputation built on integrity. As an investor you should expect an excellent standard of care and customer service packaged with transparency. This does not mean you are looking for the "perfect manager" but most importantly a truthful one. Look if they makes mistakes – let's not forget they are human. But what you want more than anything . . . . is the truth, transparency, and their willingness to say no to things that are not their niche! Reputation and transparency is big in this business.
Here are some property management/turn key questions you might want to ask throughout the interview process:
So ask your questions, get your data, and do your research.
Are you an investor?
Do you own in the exact neighborhoods you are managing?
How many investors do you work with?
Do you own all aspects of the operation? (or do they hire third party companies)
Do you offer rental or maintenance guarantees? If they answer yes, ask them why. Then ask them if they will put the guarantee on year three.
Do you defer maintenance?
How many properties do you manage?
Do you sell properties and if so, do you own the properties you sell?
How long have you been in the business?
What is your average vacancy rate?
What percentage of expiring leases will renew their lease each month?
What percentage of signed leases fulfill their full term?
What is the average number of days a property is vacant between residents, move-out to move-in?
What percentage of billed rent do you collect each month?
What is the cost of an average repair bill after move-out?
Do you mark up maintenance costs?
What are your management fees?
What percentage of collected rent goes to yearly maintenance on average?
What is your average number-of-months occupancy per property?
What is your average occupancy rate?
What programs do you have in place to keep residents happy?
What customer service programs do you have in place for owners?
Will you call me every month with an update on my portfolio?
How many team members are dedicated solely to providing service to your clients?
If you are an investor, What has been your biggest mistake as an investor? How do you protect your clients from making the same mistakes?
Again, these questions have a bit of turnkey flavor to them, but they work very well when interviewing management companies. Make sure you take good notes and remember how you feel talking to the companies.
Best of Luck!
30 Replies
- Property Manager / Licensed Realtor · Toledo/Columbus, OH · Member since 2019 · 244 posts · 262 votes4y
Hello @Alberto Leonard I am in the Toledo area, I will send you a PM.
- Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes4y
Area title is good
- Architect · Memphis, TN · Member since 2020 · 259 posts · 144 votes4y
Please do your research! Oftentimes I find that owners are not doing their research, not asking the right questions, and focusing on everything but the right thing. What does any of that mean?
First, get the numbers out of the way! Ask the property manager to show you the numbers! Looking at a sneak peek at the property management services is always a great start. Those numbers could be the following: annual vacancy rate, annual maintenance cost, percentage of residents that renew their first lease, length of resident stay, and number of properties under management.
Secondly, you want your property manager to have a team of experts and local contractors. That team of should be more than capable of conducting thorough assessments of structure, systems, and features of every house. This concept helps draw attention to functionality and consistency. Every resident should feel welcomed into a clean, presentable, and not just some house. That starts with leadership at that company you select to protect your investment.
Finally, reputation is important. Your property manager should know property management! Not all property managers are going to tell you no. That's right.... be careful and try to avoid the who doesn't care where they manage, what they manage, how they manage, etc. That's why you are wanting to be bagged by a company with a reputation built on integrity. As an investor you should expect an excellent standard of care and customer service packaged with transparency. This does not mean you are looking for the "perfect manager" but most importantly a truthful one. Look if they makes mistakes – let's not forget they are human. But what you want more than anything . . . . is the truth, transparency, and their willingness to say no to things that are not their niche! Reputation and transparency is big in this business.
Here are some property management/turn key questions you might want to ask throughout the interview process:
So ask your questions, get your data, and do your research.
Are you an investor?
Do you own in the exact neighborhoods you are managing?
How many investors do you work with?
Do you own all aspects of the operation? (or do they hire third party companies)
Do you offer rental or maintenance guarantees? If they answer yes, ask them why. Then ask them if they will put the guarantee on year three.
Do you defer maintenance?
How many properties do you manage?
Do you sell properties and if so, do you own the properties you sell?
How long have you been in the business?
What is your average vacancy rate?
What percentage of expiring leases will renew their lease each month?
What percentage of signed leases fulfill their full term?
What is the average number of days a property is vacant between residents, move-out to move-in?
What percentage of billed rent do you collect each month?
What is the cost of an average repair bill after move-out?
Do you mark up maintenance costs?
What are your management fees?
What percentage of collected rent goes to yearly maintenance on average?
What is your average number-of-months occupancy per property?
What is your average occupancy rate?
What programs do you have in place to keep residents happy?
What customer service programs do you have in place for owners?
Will you call me every month with an update on my portfolio?
How many team members are dedicated solely to providing service to your clients?
If you are an investor, What has been your biggest mistake as an investor? How do you protect your clients from making the same mistakes?
Again, these questions have a bit of turnkey flavor to them, but they work very well when interviewing management companies. Make sure you take good notes and remember how you feel talking to the companies.
Best of Luck!
- 4yDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
In our experience, the #1 mistake landlords 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!
Landlords mistakenly ASSUME all PMCs offer the exact same services and operate the exact 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.
This also leads them 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 12 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😊
Logical Property Management4.9451 Reviews - Rental Property Investor · Toledo, OH · Member since 2017 · 257 posts · 215 votes4y
@Alberto Leonard I recommend Metropolitan Title. I am very happy with their services and response times to my questions. As for property managers, I can't really comment. I manage my own properties and my friends that are out of state do the same and also don't use PMs. I find nobody looks after my investments or cares as much as me, so that is who I have hired to manage :)
- New to Real Estate · Bergenfield, NJ · Member since 2021 · 31 posts · 23 votes4y
Thank you all for your insight..
- West Bloomfield, MI · Member since 2016 · 2 posts · 0 votes4y
I would recommend Stewart Beal, he owns and manages many properties in Toledo. He knows the market very well.
Www.gobeal.com
- West Bloomfield, MI · Member since 2016 · 2 posts · 0 votes4y
I would recommend Stewart Beal, he owns and manages many properties in Toledo. He knows the market very well.
Www.gobeal.com
- Bellerose, NY · Member since 2015 · 8 posts · 6 votes4y
My wife and I purchased a new investment property in Toledo this year. We went with LaPlante after doing our due diligence and am pleased with our relationship thus far. I would suggest you continue to do your due diligence instead of taking my word for it. I searched BG for any reference on LaPlante and other Property Managers read what they wrote and what others said about them then DMed people that used LaPlante to see how their experiences were.
Might I ask why you're intent on an all cash purchase? Since this is my first purchase I knew I'd need as much cushion financially knowing that there's a ton I still don't know.
- New to Real Estate · Bergenfield, NJ · Member since 2021 · 31 posts · 23 votes4y
Originally posted by @Levin Angeles:
My wife and I purchased a new investment property in Toledo this year. We went with LaPlante after doing our due diligence and am pleased with our relationship thus far. I would suggest you continue to do your due diligence instead of taking my word for it. I searched BG for any reference on LaPlante and other Property Managers read what they wrote and what others said about them then DMed people that used LaPlante to see how their experiences were.
Might I ask why you're intent on an all cash purchase? Since this is my first purchase I knew I'd need as much cushion financially knowing that there's a ton I still don't know.
Thank you for your input. They are actually one of the management companies I'm currently looking into.
As for as the seller is concerned it's an all cash offer but I'm actually using an equity loan to finance the purchase and fund any rehab needed. I'm holding onto my cash for any unseen issues..
- Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes4y
Originally posted by @Alberto Leonard:
Originally posted by @Levin Angeles:
My wife and I purchased a new investment property in Toledo this year. We went with LaPlante after doing our due diligence and am pleased with our relationship thus far. I would suggest you continue to do your due diligence instead of taking my word for it. I searched BG for any reference on LaPlante and other Property Managers read what they wrote and what others said about them then DMed people that used LaPlante to see how their experiences were.
Might I ask why you're intent on an all cash purchase? Since this is my first purchase I knew I'd need as much cushion financially knowing that there's a ton I still don't know.
Thank you for your input. They are actually one of the management companies I'm currently looking into.
As for as the seller is concerned it's an all cash offer but I'm actually using an equity loan to finance the purchase and fund any rehab needed. I'm holding onto my cash for any unseen issues..
Cash will get you 10-15k discount on 90-100k properties.
- Investor · Doha, Qatar · Member since 2016 · 11 posts · 6 votes4y
I am an international investor, with a property in Toledo zip code 43611. I have been using Buckeye Northwest Realty. I had a few issues and they have taken care of it e.g. replace water heater, fridge,floor repair work etc. floor damage etc. I am satisfied with their services and support for an out of the USA investor. You will need to check on them and see if they meet the requirements you are looking for.
- Rental Property Investor · San Diego, CA · Member since 2020 · 24 posts · 12 votes4y
@Alberto Leonard did you ever find a property management company? If so, who did you end up going with? I am currently looking for a good PM in Toledo also.
- Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes4y
Originally posted by @Kari Morales:
@Alberto Leonard did you ever find a property management company? If so, who did you end up going with? I am currently looking for a good PM in Toledo also.
Also check out ToledoAreaRentals d0t c0m they are good
- New to Real Estate · Bergenfield, NJ · Member since 2021 · 31 posts · 23 votes4y
Originally posted by @Kari Morales:
@Alberto Leonard did you ever find a property management company? If so, who did you end up going with? I am currently looking for a good PM in Toledo also.
I am finally about to close next week. I selected LaPlante. They seem to be reasonable and have good processes in place. Hoping all goes well.
- Member since 2024 · 63 posts · 25 votes10mo
Quote from @Alberto Leonard:
Originally posted by @Kari Morales:
@Alberto Leonard did you ever find a property management company? If so, who did you end up going with? I am currently looking for a good PM in Toledo also.
I am finally about to close next week. I selected LaPlante. They seem to be reasonable and have good processes in place. Hoping all goes well.
Hi Alberto,
Any update on PM from 4 years ago- still using same company or find someone else you like better?
- New to Real Estate · Bergenfield, NJ · Member since 2021 · 31 posts · 23 votes10mo
Quote from @Donna Johnson:
Quote from @Alberto Leonard:
Originally posted by @Kari Morales:
@Alberto Leonard did you ever find a property management company? If so, who did you end up going with? I am currently looking for a good PM in Toledo also.
I am finally about to close next week. I selected LaPlante. They seem to be reasonable and have good processes in place. Hoping all goes well.
Hi Alberto,
Any update on PM from 4 years ago- still using same company or find someone else you like better?
Hi Donna.. still with LaPlante. They appear to have things under control and properly take care of the property.. The only thing I am not fond of is when major work is needed, you can only use contractors approved by them and payment to the contractor is made through the property management thereby making it a bit difficult when it's a large cost. There's no way of financing or using a credit card for payment.
- Investor · Hickory, NC · Member since 2020 · 6 posts · 4 votes4y
For my rental in Toledo, I went with Laplante. Overall I think they have been good. They did some repairs before it was rented, and some repairs came up soon after the tenant moved in. It was handled pretty well I thought. Some slight communication problems at first but overall I think things have gone well. Payments show up on time. I had many things going with that house the first couple months and the statements I found a bit confusing. But I am relatively new at this so part of it could have been me.
@Mike Mocek is a hustler and helped me find that house and I plan to work again with him several times in the next couple of years. He is at LaPlante. From a neutral stand point I'd say having someone that works with the PM company assisting you in buying a house could be a possible conflict of interest not in your favor, I don't get that feeling with him. I defined what I was looking for and I thought he did a good job with several back and forths to get to a final price...... GOOD LUCK !
- Sacramento, CA · Member since 2017 · 3 posts · 1 vote4y
Quote from @Michael Temple:
@Alberto Leonard I recommend Metropolitan Title. I am very happy with their services and response times to my questions. As for property managers, I can't really comment. I manage my own properties and my friends that are out of state do the same and also don't use PMs. I find nobody looks after my investments or cares as much as me, so that is who I have hired to manage :)
How do you handle turn over from out of state? I mean, how do you show the property if you’re not physically there? Do you have someone come in and change the locks and place a lock box or key pad so they can self show the property?
- Sacramento, CA · Member since 2017 · 3 posts · 1 vote4y
Quote from @Alberto Leonard:
Originally posted by @Kari Morales:
@Alberto Leonard did you ever find a property management company? If so, who did you end up going with? I am currently looking for a good PM in Toledo also.
I am finally about to close next week. I selected LaPlante. They seem to be reasonable and have good processes in place. Hoping all goes well.
@Alberto Leonard how is LaPlante performing ? Would you recommend them to me ? I need a property manager in Toledo Ohio.
- New to Real Estate · Bergenfield, NJ · Member since 2021 · 31 posts · 23 votes4ySo far so good with LaPlante. They have a great setup and can take care of most needs in-house. They made it rent ready and I even had them install LVP on the 1st floor. It came out great.. They were able to secure rents higher than what I expected. The property is cashflowing very nicely.
Quote from @Miguel Garcia:
Quote from @Alberto Leonard:
Originally posted by @Kari Morales:
@Alberto Leonard did you ever find a property management company? If so, who did you end up going with? I am currently looking for a good PM in Toledo also.
I am finally about to close next week. I selected LaPlante. They seem to be reasonable and have good processes in place. Hoping all goes well.
@Alberto Leonard how is LaPlante performing ? Would you recommend them to me ? I need a property manager in Toledo Ohio.
- Sacramento, CA · Member since 2017 · 3 posts · 1 vote4y
Thank you @Alberto Leonard. Can you recommend any areas in Toledo to purchase a rental? right now I am looking at the Library Village area. However, I read a lot of good and bad regarding that location. I appreciate your help in advance.
- New to Real Estate · Bergenfield, NJ · Member since 2021 · 31 posts · 23 votes4y
Quote from @Miguel Garcia:
Thank you @Alberto Leonard. Can you recommend any areas in Toledo to purchase a rental? right now I am looking at the Library Village area. However, I read a lot of good and bad regarding that location. I appreciate your help in advance.
I used Dave Poeppelmeier as my agent, very nice guy and very knowledgeable of the area. He personally checks out the properties you are interested in and gives you his take of the property and the area. Toledo can be tricky to navigate. He also works for LaPlante and an investor. I personally like the University of Toledo area for student housing, which is his bread and butter. Unfortunately my timing was off so it wasn't beneficial for me at that time. I plan to return in the future and acquire a property there. I ended up with a home in the 43613 area code.. C class neighborhood and it's doing very well for me so far.
- Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes4y
Tagging @Dave Poeppelmeier in case he wants to add anything
- 4yDave PoeppelmeierBusiness MemberRealtor · Maumee, OH · Member since 2015 · 491 posts · 722 votes
Quote from @Alberto Leonard:
Quote from @Miguel Garcia:
Thank you @Alberto Leonard. Can you recommend any areas in Toledo to purchase a rental? right now I am looking at the Library Village area. However, I read a lot of good and bad regarding that location. I appreciate your help in advance.
I used Dave Poeppelmeier as my agent, very nice guy and very knowledgeable of the area. He personally checks out the properties you are interested in and gives you his take of the property and the area. Toledo can be tricky to navigate. He also works for LaPlante and an investor. I personally like the University of Toledo area for student housing, which is his bread and butter. Unfortunately my timing was off so it wasn't beneficial for me at that time. I plan to return in the future and acquire a property there. I ended up with a home in the 43613 area code.. C class neighborhood and it's doing very well for me so far.
Keller Williams Citywide | Dave Poeppelmeier534 Reviews - 4yDave PoeppelmeierBusiness MemberRealtor · Maumee, OH · Member since 2015 · 491 posts · 722 votesSo yeah, using BP from my phone is different! Miguel, I'd be happy to chat with you on areas of Toledo.
Quote from @Alberto Leonard:
Quote from @Miguel Garcia:
Thank you @Alberto Leonard. Can you recommend any areas in Toledo to purchase a rental? right now I am looking at the Library Village area. However, I read a lot of good and bad regarding that location. I appreciate your help in advance.
I used Dave Poeppelmeier as my agent, very nice guy and very knowledgeable of the area. He personally checks out the properties you are interested in and gives you his take of the property and the area. Toledo can be tricky to navigate. He also works for LaPlante and an investor. I personally like the University of Toledo area for student housing, which is his bread and butter. Unfortunately my timing was off so it wasn't beneficial for me at that time. I plan to return in the future and acquire a property there. I ended up with a home in the 43613 area code.. C class neighborhood and it's doing very well for me so far.
Keller Williams Citywide | Dave Poeppelmeier534 Reviews - Real Estate Agent · Toledo, OH · Member since 2019 · 88 posts · 38 votes4y
@Alberto Leonard
As an agent, I've used pretty much every title company in the area and have been satisfied with them all. I'd say that Chicago Title is probably currently at the bottom of my list, simply because of some turnover.
Danberry Realtors is the largest broker in the area and also does property management if you want to check them out. (I'm not part of that team).
@Dave Poeppelmeier and @Mike Mocek are both great agents to work with. Investment properties are their bread and butter. I certainly worth with investors, but that is not the staple of my business.
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