Investor · Member since 2020 · 56 posts · 36 votes
Hi to all Dayton investors/landlords. I am having a really hard time finding the right PM. I´ve talked, (in same cases just tried to talk) with many and all of them fit in one (or more) of these categories: a) They don´t answer emails, messages or phonecalls, b) We set up a meeting (video call) and he/she didn´t appear, not at least letting me know, and then not answering an email c) They receive new clients, but then they dont ¨have time¨ to talk, (of course, after the first meeting when they sell you their services). If someone can help me with this (referral, advice, etc), I will really appreciate it.
I think we are a very good prospective client, it is true, that I am not the kind of landlord, who will accept that the teenat is always right and will just pay everything they tell me (I don´t want a PM like this neither) but for every PM that manages around 300/400 houses or less, we can make a big contribution to his/her bussines in the next 1-3 years.
I am new to the Dayton market but my agent’s Brokerage has a PM division. Not sure if they will
provide what you are looking for but give them a shout. https://www.bellarealtors.com. Do you currently own any properties in the Dayton area? Let me know. Best of luck.
Investor · Member since 2020 · 56 posts · 36 votes
5y
@Taylor Farrington Hi Taylor, and thank you for the contact. I know Bella, actually she seems very succesfull over there. I will check it out, but I think that I prefer my agent to be someone different from the PM, you know, just to control the things a little bit more. But there are reason to have them both in one company too. Thank you!!!
Yeah you’re dealing with very low IQ people unfortunately in Dayton like the ex-hairdressers at: Flourish Real Estate and Property Management with the crook Debra White. Sonder, Soda Stays (local to Dayton), and Frontdesk will guarantee you double the rent of any other local property management company. Look into it.
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”:
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😊
Please send us any feedback via email, as we do not use the DM feature here.
Also, if you like our response, please don’t be shy about giving us a vote😊
