Looking for a Property Manager or Company In Toledo

Toledo, Ohio
Managing Your Property
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Looking for a Property Manager or Company In Toledo

Kim LeduffPro Member
Member since 2020 · 39 posts · 17 votes

Hi BPers!!

I own a triplex in Toledo, Ohio and plan to buy many more properties here and was writing to see if anyone has any recommendations for property Management companies or people who property manage out here.

Any tips or guides would be much appreciated!

Thanks,

Kim

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Most Popular Reply

Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
4y

@Kim Leduff

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.

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😊

[email protected]248-209-6824
Logical Property Management4.9451 Reviews
WebsiteView Page
3Reply
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  • Dave PoeppelmeierBusiness Member
    Realtor · Maumee, OH · Member since 2015 · 491 posts · 722 votes
    4y

    Hi Kim, great to hear that you have your first property! My company is a large PM here in Toledo, I'll PM you the contact person to reach out to. 

    Podcast Guest on Show #380
    Keller Williams Citywide | Dave Poeppelmeier534 Reviews
    WebsiteView Page
    1Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    4y

    @Dave Poeppelmeier

    Just sent a connection request to get your info.

    7e investments53 Reviews
    WebsiteView Page
    1Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    4y

    @Kim Leduff

    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.

    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😊

    [email protected]248-209-6824
    Logical Property Management4.9451 Reviews
    WebsiteView Page
    3Reply
  • Kim LeduffPro Member
    OP
    Member since 2020 · 39 posts · 17 votes
    4y

    @Drew Sygit Thank you Thank you!! I've read a few of the BP books written by Brandon & David Greene and they say something similar to choosing a PMC. It never hurts to get re-advised on such things so I really appreciate you getting back to me with such a detailed response. I think you are 100% right and it takes a lot of time and work to really compare the different options.

    Thanks for sharing that BP link as well. I hadnt read that before. You've been so helpful!!

    0Reply
  • Josie Brown
    Detroit, MI · Member since 2022 · 118 posts · 49 votes
    4y

    Hi Kim! It is definitely important to find a great property manager, especially when you have multiple properties as an investor. When talking to property managers, ask questions regarding any guarantees they offer owners and refer to any online reviews to get a better idea of how tenants and other owners feel about working with the company. Let me know if you have any other questions!

    1Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    2y

    I'm 2 years late to this post but better late than never I guess lol

    We would be happy to assist if still needed.

    Check out Oz Realty 🥇

    Thanks 👍

    Podcast Guest on Show #89
    Oz Realty4.5367 Reviews
    WebsiteView Page
    2Reply
  • Jeremy Altdorfer
    Member since 2023 · 11 posts · 7 votes
    1y

    As an investor I would NOT recconend OZ realty. 

    0Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    1y
    Quote from @Jeremy Altdorfer:

    As an investor I would NOT recconend OZ realty. 


    As the owner of Oz Realty, I wouldn’t recommend any other property manager in Toledo to take you on.

    Most companies don’t allow landlords to use their own contractors for repairs due to internal operating inefficiencies. 

    Plus, letting a unit sit vacant for 6 months without approving needed maintenance is totally Irresponsible on your behalf.

    I’m glad we gave you a 30 day notice and would do so in a heart beat again to any other landlord with a similar mindset to yours.

    Much success 

    Podcast Guest on Show #89
    Oz Realty4.5367 Reviews
    WebsiteView Page
    2Reply
  • Account Closed
    Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
    1y

    I know the good PMs. Message me. 

    0Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    1y
    Quote from @Account Closed:

    I know the good PMs. Message me. 


     If only I could tell you all that I know haha

    Podcast Guest on Show #89
    Oz Realty4.5367 Reviews
    WebsiteView Page
    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    1y
    Quote from @Engelo Rumora:
    Quote from @Account Closed:

    I know the good PMs. Message me. 


     If only I could tell you all that I know haha


     Tell us dawg. We wanna know what you know.

    1Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    1y
    Quote from @James Wise:
    Quote from @Engelo Rumora:
    Quote from @Account Closed:

    I know the good PMs. Message me. 


     If only I could tell you all that I know haha


     Tell us dawg. We wanna know what you know.



    You need to buy me dinner first mate haha

    I’m not that easy 😘
    Podcast Guest on Show #89
    Oz Realty4.5367 Reviews
    WebsiteView Page
    0Reply
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