Any Recommendations property management comp. in Cincinnati, OH?

Question

Hi BP Crew,

Would love to get some recommendations on property management companies in Cincinnati, Ohio. We got really burnt with our previous PM Company and are looking to change. Does anyone have a great PM there? Thank you!

Steven Foster Wilson · Answer

Hey Patricia, I have a PM in Cincinnati that have helped several of my investors when acquiring properties. Let's connect and I'll introduce you to them.

Patricia Smith · Answer

Thank you Steve! I will reach out to you about new business opp.

Alexandra Cernasov · Answer

Hi, Does anyone have a  recommendation for a good PM in Cincinnati Ohio? I would greatly appreciate it. Thanks!

Drew Sygit · Answer

@Patricia Smith

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 – and they often select the first PMC they call!

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.

Patricia Smith · Answer

Oh yes! So true. Same happened also with our contractor. I was more than disappointed.

Will Fraser · Answer

It can happen all too easily!  One of my first--and biggest to date-- blunders in real estate was working with a contractor that I deeply connected with.  The dude was solid.  Until he wasn't.

Sometimes people change due to pressures we don't see, and sometimes people are just like m&ms . . . dark on the inside with pretty painted shells.  Give them enough pressure, heat, or attention and the charming melts right off and your left with the rotten core.

Steven Foster Wilson · Answer

Great! I've sent you the introduction.

Patricia Smith · Answer

I agree. E.th. you mention in the post is correct. I guess we just picked a foul apple...

Patricia Smith · Answer

@Steven Wilson Hello Steven, I have sent you a message through BP. I would be happy to connect with you!

Any Recommendations property management comp. in Cincinnati, OH?

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