Property Management Lorain
Looking for a property manager that works in Lorain Ohio. We have a duplex that was remodeled and almost ready for renters. I have interviewed a couple in the surrounding areas but id like to talk to a few more. Does anyone have any they would refer?
Hi Kyle! I would recommend you start your search with the NARPM website. The site has a search tool that can help you locate PM's in your area that are affiliated. If you need help navigating the site, I am happy to help. Happy investing!
Hey Kyle- I am an investor focused agent here in Cleveland and would love to connect and share some trusted property managers.
#2 Managing Your Property Contributor
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#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
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”:
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😊
#3 General Landlording & Rental Properties Contributor
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#3 General Landlording & Rental Properties Contributor
- Real Estate Consultant
- Cleveland
Quote from @Kyle Isenberg:
Looking for a property manager that works in Lorain Ohio. We have a duplex that was remodeled and almost ready for renters. I have interviewed a couple in the surrounding areas but id like to talk to a few more. Does anyone have any they would refer?
Hello I know them all as I have been doing business out there for about 10 years, more than happy to help you connect
Good Luck