HELP Wanted (Property Management)
Hi all,
I am an out of state investor with a property just East of Little Rock, Arkansas (Carlisle, AK). I am searching for a decent property manager in the area who is interested in assisting with some property work and future management. All points of contact in the Little Rock area are saying its outside of their area of operations. The few I have talked to in the Stuttgart, AK area have either had extremally poor customer service or just been unresponsive. If anyone is interested or knows a decent PM in the area I would greatly appreciate the connection!
Respectfully,
Kyle Johnson
#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
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#2 Managing Your Property Contributor
- Property Manager
- Royal Oak, MI
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”:
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.
wellll, Carlisle is outside of just about everything except Carlisle. You might try property management companies in Lonoke or Scott or maybe event Clarendon? If you don't find one, I'll message you a long shot with some caveats.
I would suggest more populated areas for future investments with a higher cashflow and rent appreciation with a larger pool of property managers to choose from.
I am not a big time property manager, but I know the area and some property owners in the area pretty well. That would not be out of range for me to work with you depending on what you are needing. Please feel free to reach out directly and I might be of some assistance.
I use Hoffman Team for our Little Rock properties. Jamie Hoffman is the owner. Drew gives good points. I know they manage properties in Sherwood and Jacksonville. I don't know if Carlisle is too far for them but you could give them a call or email.
I also use the Hoffman team, been with them for over 5 years. David and Jamie are great.
Worth asking if the manage in Carlisle.
