Port Huron MI - Property Management recommendations?

Question

Hi I own a 4 plex multifamily in Port Huron MI, I was wondering if anyone can recommend a decent property management company.

There seems to be very limited amount of options available :-(

Drew Sygit · Answer

@Kwan Suh

Even if someone give you a referral, what meets their expectations, may not meet yours.

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😊

Please send us any feedback via email, as we do not use the DM feature here.

Richard Ball · Answer

Step 1. Become a member of Port Huron Area Landlord Association - PHALA.net - It is $50 a year but they have around 400 members and they have monthly meetings where they bring in local judges, tax experts, accountants, local police, lawyers, fair housing experts and the list goes on all in an effort to keep you up to date and knowledgeable as a landlord.

Step 2. Use there resources to understand the area and get trusted contractors.

Step 3. Profit.

Full disclosure I am a board member of PHALA

Step 2. Use there resources to understand the area and get trusted contractors.

Step 3. Profit.

Full disclosure I am a board member of PHALA

Richard Ball · Answer

Sorry to hear that, I sent you a PM.

Kwan Suh · Answer

Wow.. such valuable input here. I'm definitely taking your advice and joining.

Thank you so much, I just got screwed by a handyman that I used for property management.. :(

Port Huron MI - Property Management recommendations?

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