Managing Your Property

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Nicholas Helm
  • Real Estate Agent
  • Kansas City MO
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Property Management - Kansas City Metro

Nicholas Helm
  • Real Estate Agent
  • Kansas City MO
Posted May 17 2022, 13:01

I have a few property managers I refer out throughout the KC area. One I use more than any other, but I wanted to get everyone’s opinion. Who do you use or refer people to when needing property management in Kansas City? What is your favorite thing about them? Thanks in advance!

Kansas City, Missouri

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Elizabeth Palma
  • Realtor
  • Kansas City, MO
18
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27
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Elizabeth Palma
  • Realtor
  • Kansas City, MO
Replied May 17 2022, 15:00

My favorite company for property management is PMI Destination Properties, they are incredibly professional, always return calls, and are always on top of everything!

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Milton Chamberlain
  • Real Estate Agent
  • Kansas City, MO
25
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52
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Milton Chamberlain
  • Real Estate Agent
  • Kansas City, MO
Replied May 18 2022, 07:31

I like Frank Lewis. He is very knowledgeable and hosts the north Kansas City investors meet up every month. He manage his properties all over the Kansas City Metro, boasts never having had to evict a tenant he placed, And has many great references are in great knowledge about specific markets within the Kansas City metro

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Drew Sygit#2 Managing Your Property Contributor
  • Property Manager
  • Birmingham, MI
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Drew Sygit#2 Managing Your Property Contributor
  • Property Manager
  • Birmingham, MI
Replied May 18 2022, 07:41

@Nicholas Helm

In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

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.

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”:

https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

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😊

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Nicholas Helm
  • Real Estate Agent
  • Kansas City MO
3
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9
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Nicholas Helm
  • Real Estate Agent
  • Kansas City MO
Replied May 18 2022, 10:19

Thank you!!! I will keep all of this in mind.

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Replied May 24 2022, 10:28
Quote from @Milton Chamberlain:

I like Frank Lewis. He is very knowledgeable and hosts the north Kansas City investors meet up every month. He manage his properties all over the Kansas City Metro, boasts never having had to evict a tenant he placed, And has many great references are in great knowledge about specific markets within the Kansas City metro


 What company is Frank Lewis associated with ?  What is his contact info ?

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Scott Lundgren
  • Investor
  • Kansas City, MO
120
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41
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Scott Lundgren
  • Investor
  • Kansas City, MO
Replied May 24 2022, 10:37

We have been working with Renters Warehouse https://www.renterswarehouse.c...

They have a great setup for out of state owners, and our investors are consistently providing positive feedback on their service.

Remember when dealing with a PM team that they can be good for different reasons.  Some have lower fees but don't provide the additional support you may want from out of state.  We feel this team has a nice balance between cost and support.