Property management in Fayetteville NC

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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
7y

You can start by going to www.narpm.org and search their directory of managers. These are professionals with additional training and a stricter code of ethics. It's no guarantee but it's a good place to start.

1. Ask how many units they manage and how much experience they have. If it's a larger organization, feel free to inquire about their different staff qualifications.

2. Review their management agreement. Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.

3. Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers. It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees. Fees should be clearly stated, easy to understand, and justifiable. If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee. Don't be afraid to negotiate!

4. Review their lease agreement and addendums. Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.

5. Don't just read the lease! Ask the manager to explain their process for dealing with maintenance or problem tenants. If they are professional, they can explain this quickly and easily. If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff.

6. Ask to speak with some of their current owners and current/former tenants. You can also check their reviews online at Google, Facebook, or Yelp. Just remember: most negative reviews are written by problematic tenants. The fact they are complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.

I hope this basic guide helps. If you have specific questions about property management, I'll be happy to help!

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    7y

    You can start by going to www.narpm.org and search their directory of managers. These are professionals with additional training and a stricter code of ethics. It's no guarantee but it's a good place to start.

    1. Ask how many units they manage and how much experience they have. If it's a larger organization, feel free to inquire about their different staff qualifications.

    2. Review their management agreement. Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.

    3. Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers. It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees. Fees should be clearly stated, easy to understand, and justifiable. If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee. Don't be afraid to negotiate!

    4. Review their lease agreement and addendums. Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.

    5. Don't just read the lease! Ask the manager to explain their process for dealing with maintenance or problem tenants. If they are professional, they can explain this quickly and easily. If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff.

    6. Ask to speak with some of their current owners and current/former tenants. You can also check their reviews online at Google, Facebook, or Yelp. Just remember: most negative reviews are written by problematic tenants. The fact they are complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.

    I hope this basic guide helps. If you have specific questions about property management, I'll be happy to help!

    The DIY Landlord Book4.7248 Reviews
    WebsiteView Page
    3Reply
  • Jamar Hall
    Flipper/Rehabber · Fayetteville, NC · Member since 2018 · 4 posts · 0 votes
    7y
    @Erica Raby I can PM you some great property management company’s here in Fayetteville as well as more rental opportunities if interested!
    0Reply
  • Erica Raby
    OP
    Rental Property Investor · WA · Member since 2018 · 36 posts · 4 votes
    7y
    @Jamar Hall thanks for the reply and that would be great
    0Reply
  • Erica Raby
    OP
    Rental Property Investor · WA · Member since 2018 · 36 posts · 4 votes
    7y
    @Nathan G.thanks so much great feedback
    1Reply
  • Liem Huynh
    Rental Property Investor · Fayetteville, N.C. · Member since 2018 · 1 post · 0 votes
    7y

    @Jamar Hall I also would love to know some property management companies to set up for my first rental property in Fayetteville. There are way too many bad ones out there and I want to provide my tenants with good managements. Thanks.

    0Reply
  • Kenny Dahill
    Investor · Tempe, AZ · Member since 2018 · 1k+ posts · 731 votes
    7y

    @Erica Raby and @Liem Huynh, make sure to get competing bids and really understand their fee structure. Most are willing to provide it upfront, but some hesitate and they are the ones to avoid.

    0Reply
  • Erica Raby
    OP
    Rental Property Investor · WA · Member since 2018 · 36 posts · 4 votes
    7y

    @Jamar Hall

    I’m interested in other rental properties in the FAYETTEVILLE area. I closed on a prop over there in December however it’s still not rented. Any ideas?

    0Reply
  • Jamar Hall
    Flipper/Rehabber · Fayetteville, NC · Member since 2018 · 4 posts · 0 votes
    7y

    Sure thing I will PM you!

    0Reply
  • Ty L.
    Investor · Northern Virginia · Member since 2017 · 159 posts · 59 votes
    7y

    @Liem Huynh @Erica Raby I agree with Property Management in the area but there a few good ones.

    @Jamar Hall  always interested in rental opportunities if you know any, PM if you can. Thanks

    0Reply
  • Justin Tahilramani
    Rental Property Investor · Fayetteville, NC · Member since 2014 · 884 posts · 670 votes
    7y

    If you are having a problem renting a home in Fayetteville there are two potential problems:

    Poor property management company.

    Or

    House that isn't up to par or is priced too high for the market.

    Its certainly not due to a lack of qualified tenants.

    0Reply
  • Carla Sutherland
    Rental Property Investor · Brooklyn, NYC · Member since 2019 · 16 posts · 2 votes
    7y

    Hi, I'm looking at a possible multi-family in Fayetteville - a triplex with 3 1 bed 1 bath.  Rent is projected at around $600 a month per unit.  Does that seem reasonable?  It's in the 28305 zip code area - is that one to be avoided?

    Erica, did you manage to get your property rented?  What rent are you charging?

    Many thanks for any assistance,

    Carla

    0Reply
  • Justin Tahilramani
    Rental Property Investor · Fayetteville, NC · Member since 2014 · 884 posts · 670 votes
    7y
    Originally posted by @Carla Sutherland:

    Hi, I'm looking at a possible multi-family in Fayetteville - a triplex with 3 1 bed 1 bath.  Rent is projected at around $600 a month per unit.  Does that seem reasonable?  It's in the 28305 zip code area - is that one to be avoided?

    Erica, did you manage to get your property rented?  What rent are you charging?

    Many thanks for any assistance,

    Carla

    Carla,

    It's impossible to answer your question with the information that you have provided. Rent for a 1bd/1ba in Fayetteville can range anywhere from $300 - $900 per month depending on size, location, condition, schools, etc. Generally speaking - you are going to be around $400 - $500 per month on an average 1bd unit.

    0Reply
  • Carla Sutherland
    Rental Property Investor · Brooklyn, NYC · Member since 2019 · 16 posts · 2 votes
    7y

    Thanks Justin, appreciate the feedback.  I hadn't realized how big or varied that zip code was.   Will work on providing better information for stronger assessments.  Thanks again.

    Carla.

    0Reply
  • Erica Raby
    OP
    Rental Property Investor · WA · Member since 2018 · 36 posts · 4 votes
    7y

    @Carla Sutherland

    Yes I have had a renter since 1 feb. thanks for following up

    0Reply
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