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Allen Lee
  • New to Real Estate
  • Dallas
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Please help me assess my Dallas PM

Allen Lee
  • New to Real Estate
  • Dallas
Posted Nov 25 2019, 06:26

Hi all,

I'm new to the forums and landlording. Renting out a SFH in/around Dallas. I'm new to this and am wondering how my PM is doing? I got this PM on a family referral but didn't vet personally.

Day 1. Prev tenant gives notice. PM does CMA at my suggestion and new rent decided. Prev tenant complained about carpeting but PM says carpet is OK.

Day 8. After asking PM for status he puts up new ad. Misspellings and single poor photo.

Day 30. Prev tenant leaves. A few showings but only one application so far which PM doesn't like.

Day 33. Phone call with PM. He says cleanup/touchup will be occurring next day or two. Now that property is vacant he says will show better.

Day 49. A couple more showings and some have complained about the carpet. PM thinks the carpet should be replaced now. So far 7-8 showings, 2 Apps but PM says apps are poor.

Day 52. Sent friend to inspect property. Cleaning crew was there. Carpet was just replaced. Friend said "house was dirty". Pics look OK.

Day 61. New professional pictures up after I prodded PM for new listing.

Day 78. (Today). PM claims running background check on new app.

My concerns:

1. Possible mispricing, the CMA said one thing but our prop may be below-market in upgrades leading to longer DOM.

2. Generally the PM seems very slow. Everything could have been done much quicker. 

3. Incorrect initial judgement on carpeting.

Hi guys any feedback would be greatly appreciated! How is this PM's performance on a scale of 1(bad) to 10(good)? Thanks so much!

Allen

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