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Managing Your Property

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Jim Ferguson
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Looking for Recommendations for Property Management in KCMO

Jim Ferguson
Posted Jun 7 2022, 08:13

Are you using a Property Management company in the KCMO area you can recommend? Please briefly tell us why you like them. 

We have 6 residential properties. 

We are looking for responsive and timely action from management and attention to detail concerning tenant requests. 
Thanks!

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Josie Brown
Pro Member
  • Detroit, MI
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Josie Brown
Pro Member
  • Detroit, MI
Replied Jun 7 2022, 08:37

Hi Jim! I'd be happy to chat about property management in Kansas City with you. 

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Caleb Brown
  • Real Estate Agent
  • Blue Springs
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Caleb Brown
  • Real Estate Agent
  • Blue Springs
Replied Jun 7 2022, 08:50

Where are they at in the city? 

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Jim Ferguson
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Jim Ferguson
Replied Jun 7 2022, 08:56

One in Grandview, One In south ks off Holmes. 3 by stadium, one in Ruskin heights. 

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Luther Wilson III
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  • Investor
  • Kansas City, MO
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Luther Wilson III
Pro Member
  • Investor
  • Kansas City, MO
Replied Jun 7 2022, 13:43

There's a couple others we might be able to recommend here.  ;)

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Spencer Smith
  • Rental Property Investor
  • Mesa, AZ
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Spencer Smith
  • Rental Property Investor
  • Mesa, AZ
Replied Jun 7 2022, 16:21

I'd recommend reaching out to @Laura Marks, I've been very pleased with her so far! 😄

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Laura Marks
  • Real Estate Broker
  • Independence, MO
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Laura Marks
  • Real Estate Broker
  • Independence, MO
Replied Jun 7 2022, 17:08
Quote from @Spencer Smith:

I'd recommend reaching out to @Laura Marks, I've been very pleased with her so far! 😄

Thanks, Spencer! I appreciate you! 
I’ve actually worked with @Jim Ferguson before. I’ve opened my own Brokerage, if you’d like to message me. 

  • Real Estate Agent Missouri (#Notary), Kansas (#2021XXXX), and Missouri (#20017XXXX)

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Drew Sygit#2 Managing Your Property Contributor
  • Property Manager
  • Royal Oak, MI
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Drew Sygit#2 Managing Your Property Contributor
  • Property Manager
  • Royal Oak, MI
Replied Jun 8 2022, 09:59

@Jim Ferguson

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😊