Remote property management company??

Question

Hello all,

I'm not sure if what I'm looking for exists, but I'll ask. In an ideal world I'd have a remote property management company who has a limited scope of work, but is the primary interface with the tenants. In this scenario I would list the property, screen the tenants, and draw up the lease. However, from that point I don't want any interaction with the tenants. No text messages about a neighbor's barking dog, or a light bulb that burned out.

I would want to pay a remote property management service to be the point of contact for the tenant, make sure rent is paid every month, remind me when the lease is expiring in 60-90 days, and handle small issues.

If there were any big issues such as needing to address a major repair or evict a tenant, I would handle that. For this arrangement I might "technically" be the PM, but the company would be acting in the capacity of my assistant and doing all the work that I don't want to do.

Do any companies like this exist?

Nathan Gesner · Answer

Hemlane sounds great . . . until it's not. If you think a computer system is going to replace human property management and still perform as well, you are in for a surprise. They will do the bare minimum to survive with their 2% management fee and $300 leasing fee.

Most property managers, particularly good ones, will not work with you because it requires them to deviate from their business model. It's not easy to manage hundreds of properties with one process and then change their processes for you and your one rental.

Bob Stevens · Answer

When owners are too hands on its ALWAYS an issue. I have " fired " clients as they want to do things their way, which is always wrong lol

All the best

Bob Stevens · Answer

100% correct, We do not and will not customize our business model for a client. I have guys with 50 doors they pay exactly what the guy who has 1 property,

All the best

Drew Sygit · Answer

Most PMC's would probably do this, as it's no different then taking over an occupied rental.

Guessing though, you want to go super cheap? Then a traditional PMC won't be a good fit for you.

What do you envision if the tenant you screened and placed, stops paying rent?

If you hired us, we would charge you for handling an eviction as we didn't create the problem.

Eliott Elias · Answer

You can run a PM company without ever stepping foot in the city or state. You need a good team of contractors/ handymen, cleaners, landscapers. All admin work can be done by a VA overseas

Nirav Desai · Answer

I think Hemlane.com does what you're describing. I've used them for many years in varying capacities. At first, it was just marketing and rent collection. And then I upgraded to have them handle maintenance requests unless it's over a set amount in which case I'm asked for. I see some threads here discussing Hemlane if you want others' experiences.

Steven Foster Wilson · Answer

I have considered this idea as well. The only thing is you have to have a trusted handy man, contractor, person to evict, clean outs, turns, and you really need someone to watch over to make sure all of that is happening. You have to ask yourself do you want to be that person because that will be creating another job for yourself. If not then you have to create that team. You also would have to make sure you have the licensing to do all of that as well.

Mariana Kesovija · Answer

Hi Greg, you would need to look through your agreement with the property management. Part of the many benefits to hiring a PM is that they take care of evictions and save you money in the process. Our company offers additional eviction protection at a fair rate so you can customize your protection.

Bob Stevens · Answer

The 8% fee covers the basic expenses. Having a team that handles everything is 100% worth the little extra. However, in most cases its not even more money. As they have attorneys doing many evictions so lower cost than the owner calling for one. Handymen doing 50 jobs a week so less then owner calling for one repair. Example, replace the furnace total  1700, try getting a HVAC guy to do it for that. Relplace the P trap $75  So many try and go it on their own and get crushed, I read it all the time on BP,

Bob Stevens · Answer

Why would you want to be part of any of it ? Its a headache, Just let the PM handle all. PM should tell you about the tenant going in, income BG etc, how are you going to evict a tenant out of state? You do not know the laws. You 100% should not be involved in any aspect of it. PM co has attorneys, handymen G'C s etc. In my 10 years doing 1ks of move in and outs when the owner is  too part of the process all it does is slow things down and make things more complicated. You are going to be charged either way so just let them handle,

All the best

Remote property management company??

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