Virginia Beach, VA · Member since 2018 · 5 posts · 0 votes
7y
I’m sorry I don’t have a recommendation but can you let me know who you currently use and why you are switching? I only have investments in Newport News but plan to expand to Virginia Beach eventually and want to know who to stay away from. I currently live in Virginia Beach so I may end up self managing but I’m unsure yet.
Investor · Stuart, FL · Member since 2016 · 20 posts · 12 votes
7y
I have several properties in Norfolk and use Leland real estate. I have been extremely happy with their price, knowledge and service. Ask for Jonathon. He is also a licensed broker and I use him as my agent as well. You will not be disappointed.
Virginia Beach, VA · Member since 2018 · 46 posts · 23 votes
7y
Andy,
I’ve been investing in the area and have been using Christian Phillips and his team the entire time. I’ve lived here in Virginia Beach, DC, Hawaii, and California and he’s been the reason I’m comfortable continuing to invest from anywhere. Please send me a message for more information.
Encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
To avoid going through the same poor experience, keep reading.
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😊
Logical Property Management4.9453 Reviews