Anybody uses OneRent Property Management (bay area)

30 Replies

I just received a phone call from OneRent after I post my rental ads. This property management company says they charge for 5% and rent is guaranteed due on the first of the month. I read review from yelp and it sounds not bad (from landlord point of view), but I never heard it before. 

So I think about my dear BP friends, do you ever use it? And what is your thinking?

https://www.yelp.com/biz/onerent-property-manageme... (if yelp link doesn't work, just google OneRent property management in yelp. )

I looked them up. They seem to be a startupy type company that's tackling PM in the some of the hotter tech areas (Seattle, Bay Area, San Diego).

When I spoke with them their fee system was pretty transparent (5% monthly only while it's being rented). They will also contact you if any repairs exceed $200 (I'm sure the threshold is negotiable), but will otherwise just take care of it (with their team, or your own if you have folks you prefer to use).

I don't know what their contract actually states though so I'd want to look at that more closely.  They also likely partner with a local PM and give you the opportunity to speak with them before you sign on (since I imagine that person would be your POC when you're looking for a person to talk to).

If you decide to use them let me know what your experience is.

( I don't know how to Tag @ usernames)

I just briefly talked with the sales guy over the phone and scheduled a phone call with their "tech" guy later today. Will keep you updated.

Briefly talked to them. 

Their current turn over time is 3-4 weeks in San Jose. Owners have options to use their preferred contractors or OneRent's contractors (handyman charges $65/hour).

They screen tenants as 2.5x income/rent, and do 6 months walk through check.

It sounds a professional management way. 

The disadvantage I can think of is that, the tenants will treat renting your house as renting an apartment, and require more maintains like clogged toilets. If you manage it yourself, tenants likely manage simple fix themselves. So the cost for owners would be significantly increased.

What do you think BPers?

Thanks for the update.

For me the turnover time could be faster, but isn't crazy if it's getting cleaned up one week and another week or two to show.

Given the location I don't think the renters will be treating the place too differently than if you were managing it yourself.  In some cases they may feel less bad about contacting a person vs a company.

Also for self-fixes it depends on the condition of your place, but a major fix will need to be taken care of whether you self-manage or not.  I've been managing places for my aunt up here and in SoCal for about a year now and personally believe that how often a tenant asks for fixes is more based around their personality than anything else.

Take my opinion with a grain of salt as I've never used a PM service so don't have any data to actually compare.

As a San Jose licensed property manager and investor, a 5% flat fee can be reasonable depending on the property. Things such as location, condition, aggressive rent rate, etc affect how much work may be required to properly manage a property and its tenants. Also there is a difference between managing SFR and multi-unit properties.

Some things to consider regarding PM fees.  What is included?  Are there any other fees?  Setup fee?  Lease fee?  Are maintenance bills marked up?  Banking fees? Admin fees? etc?  Is marketing the property included?  What does this look like?  Are pictures and a floorplan included?

Some other things to consider.  

Will you have a dedicated PM to call for all your questions/concerns or do you call a general number?

Do they understand an investors point of view and expectations?

Does the PM personally visit every property or is it someone else (for example a maintenance worker?)  How often?

How and what do they do for tenant screening?  It's more than 2.5x or 3.0x income/rent.

Are they aware of current updates/changes in local laws/ordinances?  For example, San Jose updated the rent control ordinance June 17 of this year.

What is the PM's philosophy in handling tenant relations?  Personally, my philosophy is I am fair but firm.

Regarding turnover times.  That varies some too.  Time of year, location, diligence of PM.  A year ago, in San Jose, assuming the unit needed a quick clean and minimal maintenance, most of my units were re-leasing in less than a week.  This year, it is around 10-12 days.  

I'm happy to answer more generic or specific questions from my perspective.

Regards,

Chad

Thank you very much Chad. 

I never used a PM before, and just got their agreement document.

Here is the fee part answering your questions.

A. Management: Only when tenant occupied, the greater of: 5% of gross rent per month per unit or $100 per month per unit.

B. Renting or Leasing: FREE

C. Preparing Property for Rental/Lease: FREE (not including cost of maintenance/repairs related to turnover).

D. Managing Property during extended periods of vacancy: FREE

I think the rate is better than a few PMs I talked years before. 

I have not decided yet. 

@Rong Liu   Those rates are near the bottom of what you'll find available.

Just remember that is only part of what you are after in a PM.  You want them to be affordable but also a fit/match for your particular needs and personality.

Regards,

Chad

They will rip you off. If you don't believe me keep on reading.

I know your question was from 2 years ago but I am putting this out here just in case another person would have use of it while considering OneRent. 

Usually I don't even bother giving reviews and when I do it's one or two lines. In this case I just had to share what I have been through because I don't want Landlords to put their valuable properties in bad hands.

I feel bad for current and future tenants and landlords who are signing up with OneRent. All this company has is a talented Sales Department who can BS and promise you things they will eventually break in the future.

I am very forgiving and patient but OneRent managed to bring out the bad side of me. I lost several months of rents and was redirected to so many different people who had no idea of what they were talking about. They are extremely disorganized and frustrating to deal with.

Story #1
I was promised my unit would be rented within 14 days. After a whole month I put out my own ad in Craiglist, found a tenant. Drove from LA to the Bay Area showed the place and handed the tenant over to OneRent. I did all the work and I had to pay half of the first rent for it.

Story #2
I hired professional cleaners who cleaned out my unit and I handed everything over to OneRent. When the tenant moved out and the unit became vacant they told me it was cleaned and in perfect shape to put on the market again.

Just to be sure I went there and inspected the unit myself. Dust and spider web all over the place, kitchen and oven was disgusting, somebody did their business in the toilet and it was still marks. I am not a Pro but I don't think you are supposed to show a unit in that shape.

I called OneRent and asked to talk to a Manager. The person told me she is not allowed to hand over the phone to a Manager. When I asked for the name of the Manager she said she is not allowed to give me the name either but could take a note and hand my message to them.

Story #3
OneRent found a tenant for me who they called "OneRent Guaranteed Tenant". When I asked what this means I was told they will cover the rent even if the tenant wont pay since it's a "Guaranteed Tenant". For my second unit I waited 3 whole months until they found somebody who was "One Rent Guaranteed". I wanted to make sure I am safe which was stupidity from my side since I lost 3 moths of rent.

Two weeks ago the same "OneRent Guaranteed Tenant" just decided to leave and not pay rent, not even penalty. All OneRent (Jayson) did was call me and say, "He was broke and lost his job so we terminated the lease and let him go". I asked about the Guarantee and if I would still receive rent. He said the "Onerent Guarantee" was terminated as soon as the tenant couldn't pay.

I was speechless.

Story #4
Before I handed over my units to OneRent I used to manage the property myself. I am familiar with the cost of repairs and maintenance. Every time something happened I called my own guy to double check the price. I noticed every time OneRent was finding somebody the fix something cost were 30-60% higher.

Also since they don't have their own guys they hire people and that process can take several weeks which frustrated all my tenants. To speed up the process and keep the prices down I gave them the number to my contractor/handyman. They made him so upset he doesn't even want to work for me anymore. Thanks OneRent

Story #5
I asked for them to find a guy who could cleaned out the garden and remove some trash. The got back with a quote $210. I found that to be a very good deal since my guy said $400. I told OneRent to hire the person who came and did a very good job. After he was done I received an email from OneRent (Marjorie) saying she made a little mistake. She mentioned the price was actually $2100. Marjorie used to forget things I repeatedly told her. I had to do so many trips from LA to the Bay area just to fix her mistakes

Conclusion
I can go on and on with stories. I feel all the people that have written their bad experience about OneRent here. They probably feel as hurt and ripped off as me. When I signed up with OneRent they had decent Google and Yelp Reviews. I saw their rating go down and should have taken that as a red-flag. Today they have turned off and shut down their Google and Yelp reviews, wonder why?

I have an attorney who reviewed all my documents and mentioned we have enough evidence pictures/email conversation to take them to court and claim back all loses which I am considering if they don't take care of my case properly.

Ha ha, I especially like it how company founder, aka douchebag chuck, comes on here with a sprig and gleeful marketing response! (Perhaps starting out with a little contrition and modesty would help prevent the zuckerberg effect.)

Trying to automate property management via a start up/app/web/tech approach is laughable. Why? Because property management is very nuanced and detail oriented and *highly specific* to the location (down to the neighborhood), property type, market condition, expectation of landlord, available local resources, etc., etc., etc. Any decent and experienced local property manager will tell you that. Furthermore, these start ups are usually VC funded, and the demands of their investors is that they scale up quickly, which runs counter to the ability to master even one local market well, as I detailed above. 

Best case is that they can be successful for some of their customers. Some. Not good enough to build a sustainable and successful business! The sheer number of 1 star reviews on various platforms speak for themselves. 

They will rip you off. Please stay away. 🙏

Usually I don't even bother giving reviews and when I do it's one or two lines. In this case I just had to share what I have been through because I don't want Landlords to put their valuable properties in bad hands.

I feel bad for current and future tenants and landlords who are signing up with OneRent. All this company has is a talented Sales Department who can over promise and under deliver.

I am very forgiving and patient but OneRent managed to bring out the bad side of me. I lost several months of rents and was redirected to so many different people who had no idea of what they were talking about. They are extremely disorganized and frustrating to deal with.

Story #1
I was promised my unit would be rented within 14 days. After a whole month I put out my own ad in Craiglist, found a tenant. Drove from LA to the Bay Area showed the place and handed the tenant over to OneRent. I did all the work and I had to pay half of the first rent for it.

Story #2
I hired professional cleaners who cleaned out my unit and I handed everything over to OneRent. When the tenant moved out and the unit became vacant they told me it was cleaned and in perfect shape to put on the market again.

Just to be sure I went there and inspected the unit myself. Dust and spider web all over the place, kitchen and oven was disgusting, somebody did their business in the toilet and it was still marks. I am not a Pro but I don't think you are supposed to show a unit in that shape.

I called OneRent and asked to talk to a Manager. The person told me she is not allowed to hand over the phone to a Manager. When I asked for the name of the Manager she said she is not allowed to give me the name either but could take a note and hand my message to them.

Story #3
OneRent found a tenant for me who they called "OneRent Guaranteed Tenant". When I asked what this means I was told they will cover the rent even if the tenant wont pay since it's a "Guaranteed Tenant". For my second unit I waited 3 whole months until they found somebody who was "One Rent Guaranteed". I wanted to make sure I am safe which was stupidity from my side since I lost 3 moths of rent.

Two weeks ago the same "OneRent Guaranteed Tenant" just decided to leave and not pay rent, not even penalty. All OneRent did was call me and say that the tenant lost his job and couldn't pay which resulted in a terminated lease. I asked about the Guarantee and if I would still receive rent. He said the "Onerent Guarantee" was terminated as soon as the tenant couldn't pay.

I was speechless.

Story #4
Before I handed over my units to OneRent I used to manage the property myself. I am familiar with the cost of repairs and maintenance. Every time something happened I called my own guy to double check the price. I noticed every time OneRent was finding somebody the fix something cost were 30-60% higher.

Also since they don't have their own Handymen they hire people. This process can take several weeks which frustrated all my tenants. To speed up the process and keep the prices down I gave them the number to my contractor/handyman. They made him so upset he doesn't even want to work for me anymore. Thanks OneRent

Story #5
I asked OneRent to find a guy who could cleaned out the garden and remove some trash. The got back with a quote $210. I found that to be a good deal since my guy said $400. I told OneRent to hire the person who came and did a very good job. After he was done I received an email from OneRent saying she made a little mistake. She mentioned the price was actually $2100. This person was my agent who used to forget things I repeatedly told her. I had to do so many trips from LA to the Bay area just to fix her mistakes.

Story #6
When my tenant moved out I received a call from OneRent saying there are things in the garage that might belong to the previous tenant who moved out. They asked whether they should haul them away. I mentioned all those items are mine and should not be hauled away. When I went back to inspect the house I noticed they hauled away all my stuff. I called and emailed back but nobody even responded to my request. I requested a compensation but they still not gotten back to me. This was December 2018.

That was when I decided to finally move away from Onerent.

Conclusion
I can go on and on with stories. I feel for all the people that have written their bad experience about OneRent here. They probably feel as hurt and ripped off as me. When I signed up with OneRent they had decent Google and Yelp Reviews. I saw their rating go down and should have taken that as a red-flag. Today they have turned off and shut down their Google and Yelp reviews, wonder why?

Originally posted by @Chuck Hattemer :

Hi Amit, I do apologize if I came across the wrong way. I understand your points and I appreciate the due diligence of the BP community. 

We don't believe you can automate property management--you're absolutely right the business is hyper-local and other factors you listed. 

It's not our mission to automate property management, but rather to scale with the right mix of personal touch and local resources. Our perspective is, hey let's at least give it a shot--we're lucky to have some backers who believe in the vision and our advisors, including some BP members, have been encouraging and helpful in their feedback. We all understand the customer experience challenges along the way and the perception that this business cannot be automated. Property management is undoubtedly a fragmented and not-so-great experience for landlords as I'm sure you know. However, we believe there is a more reliable and convenient experience out there to be built for landlords. We may have not built that perfect version yet, but it's only through our execution and learning experiences like these that allow us to get one step closer. Someone will try to tackle this industry--we're motivated to be the ones to take a shot at it.

Our product and experience are not fit for everyone and it's, by no means, as great as an experience as we'd hope. Property management is a tricky business, walking the fine line between renter and owner expectations. And yes, we do have ambitions to scale in a market that is very fragmented (no single company owns more than 1% market share in residential PM). We've strived to learn from other tech-enabled property managers and firms who have failed to scale effectively and implement those learnings in our scaling to now 180 cities across California and Washington state.

For what it's worth:

  • We have over 170 4-star or greater online reviews. 
  • Onerent’s current Net Promoter Score of +40 is 46% higher than competing property managers. We want to push that number higher.
    • Redfin  reports an NPS of +50 , reporting that it’s score is “...50% higher than competing brokerages.”
  • Only 1.2% of customers have left a negative review. 
    • We’ve served 3k owners and 5k renters, yet we only have about 120 negative reviews--about 80% of which are from tenants. 
  • Our average online rating is 3.5/5, which is 60% higher than the 2.2 star average of traditional property managers.
  • Sometimes we need to make a tough decision in favor of one side of the landlord-renter transaction and at a negative impact to the other side (i.e. deducting security deposits). This can result is a negative review.

I mean even Airbnb, has 1-star rating and 3,145 reviews on Trustpilot.

I appreciate the feedback and will work to be more modest in my initial reply but I think it's important to at least consider the statistics of it all. If you're hesitant about our services, you can DM me on BiggerPockets here and I'd be happy to chat.

Thank you, and I welcome feedback from anyone via a DM if they have ideas on how we can improve our service and provide genuine value to landlords and renters.

One rent is a scam everything you said IS NOT TRUE, we are still waiting for the money onerent has to pay us.

@Marty Houghton - Just do a google search for Onerent or call them for more details on their service structure. I will say that I have add’l knowledge of this company. I think one detail that hasn’t yet been mentioned is that in order to keep costs down, much of Onerent’s team is located overseas in the Philippines. Think of a call center. 

The Onerent boots-on-the-ground staff are “contractors” who get paid $20-30 per showing or $60 per walkthrough/inspection. Think uber/lyft driver contractor structure.

But the call center staff who handle the important stuff like leasing, arranging repairs, etc. work overseas and likely do not have intimate knowledge of your rental area.

That said, I’m not bashing this model. It could work. I like the lower management fees and the idea of using technology to try to automate business processes. I even thought of using them for my rentals, but decided against it, as I’m not keen on call centers. I just feel that call centers are like Russian roulette — too much is given to chance as to who may be on the other end of the call. I take my business very seriously. 

This company is a scam!!!

This company will cost you time, money and your sanity! I hired them to rent out my condo/apartment and was told that a “professional photographer” would be coming to take pictures, instead a man came with 3 small children that were kicking our freshly painted walls/trim while he snapped pictures with an old phone. They then posted the worst photos ever with a picture of my toilet as the cover photo. After 6 weeks of horrible follow up and conflicting information about how many times they showed my property, the “supervisor” let me know that they’d actually been lying and had lost all of my keys so had not shown the property after-all. They would not compensate me for any of the time they had wasted (6 weeks of rent) and even accused me of lying about how many keys I provided to them. I’ve now spent the last 3 weeks trying to get an answer on how to get new keys and reimbursed for the mail key and entry keys which they also lost, but met with the run around or silence. To top it off their contractor used a saw to remove their lockbox and cut into my front door badly damaging it in several places, and they will not address that either. Every single person I’ve talked to from this company has lied to me and been grossly incompetent. Maybe because all “leasing agents” and “supervisors” are completely inexperienced in property management and work out of a call center in the Philippines. Do not trust this company!!!

Any property owner considering using Onerent is playing Russian Roulette with themselves. Owners are risking financial loss, lawsuits from neighbors and serious fines if they live in HOA's.

My neighbor rented his beautiful townhouse in the Los Angeles area using this company. They DO NOT meet the tenants. They refuse to provide proof that the tenants who received the keys were even properly ID'd. Supposedly, a father with 2 kids moved in -- instead, a rotating circle of criminals resided there. It became everything from a drug den to sex trafficking to an illegal auto body shop. A complete NIGHTMARE for the HOA community for MONTHS.

Onerent did NOTHING for months. They sent a letter to the owner that the "issue had been resolved" at the same time 10 to 15 people were living in a 3 bedroom. He couldn't get anyone competent on the phone - this is the owner. I repeat - he couldn't get anyone to talk to him about the matter. Can you imagine if this was you?

While people can say these situations are rare, I got an employee to admit an eerily similar situation took place in San Diego recently... it also happened in Berkeley. Guys, when a rental company is filling your unit with people they aren't meeting or ID'ing - then doing nothing about it if turns out the people are a problem -  you are royally SCREWED. Tenant/landlord laws are in favor of the tenant. It's very SERIOUS.

Onerent needs to be investigated by the Attorney General's office - they are putting entire communities at risk with their negligence.

OneRent is a startup. Not a property management company. Looks like they are not transparent about who they are or how they operate. They hire independent contractors to do most of the work. Work that can be completed without being a licensed agent according to them. So the independent contractors get a small payment to complete tasks. They take marketing photos on their cell phones. That’s why the look so bad. Independent contractors only get basic training. I imagine they pocket the rest of the money you pay to them. It’s outsourcing the job to someone else - the independent contractor-  who gets paid a fraction of what is being paid to Onerent. Just so you folks understand. I signed up to do this job and so far they are completely unorganized and rude and unprofessional in their responses. Oh and they have promised to pay me how many days now? Still waiting. 

Originally posted by @Alex Feis :

Any property owner considering using Onerent is playing Russian Roulette with themselves. Owners are risking financial loss, lawsuits from neighbors and serious fines if they live in HOA's.

My neighbor rented his beautiful townhouse in the Los Angeles area using this company. They DO NOT meet the tenants. They refuse to provide proof that the tenants who received the keys were even properly ID'd. Supposedly, a father with 2 kids moved in -- instead, a rotating circle of criminals resided there. It became everything from a drug den to sex trafficking to an illegal auto body shop. A complete NIGHTMARE for the HOA community for MONTHS.

Onerent did NOTHING for months. They sent a letter to the owner that the "issue had been resolved" at the same time 10 to 15 people were living in a 3 bedroom. He couldn't get anyone competent on the phone - this is the owner. I repeat - he couldn't get anyone to talk to him about the matter. Can you imagine if this was you?

While people can say these situations are rare, I got an employee to admit an eerily similar situation took place in San Diego recently... it also happened in Berkeley. Guys, when a rental company is filling your unit with people they aren't meeting or ID'ing - then doing nothing about it if turns out the people are a problem -  you are royally SCREWED. Tenant/landlord laws are in favor of the tenant. It's very SERIOUS.

Onerent needs to be investigated by the Attorney General's office - they are putting entire communities at risk with their negligence.

Exactly the same happened to me here in Oakland CA the tenants were 2 drug dealers n drug addicts no background checks were required, we spent over $20000 for evict them they never paid nothing at all.

 

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