Good, experienced section 8 property management
Member since 2023 · 2 posts · 3 votes
Good, experienced section 8 property management
Most Popular Reply
Real Estate Broker · Toledo, OH · Member since 2016 · 58 posts · 38 votes
3yGreat advise Michael Smythe.
My addition to the topic:
Do not use referrals from anyone that is getting paid a fee to advertise companies. I have seen James Wise refer people to companies in Toledo and when I sent an email about stopping the fraud in Toledo they sent me a form to pay a large fee to advertise. The company that was recommended was a company that got tons of people into bad investments. Nothing against James Wise, just make sure you do your own research, I'm sure they have good people too.
You need to contact these companies yourself and interview them. Go to Cleveland and meet the broker personally. If the broker will not give you the time of day, move on. If there is no broker, move on. In Ohio a property management company must be a licensed broker to run a management company.
1. check public records to see how many evictions they file monthly.
2. request references
3. ask for references from contractors that they use that are licensed.
4. check reviews . don't look for 5 stars, but look for reviews from other investors. Read tenant reviews but know tenants put bad reviews up when they are being evicted. So look for some good reviews from tenants also.
5. look up the state license- make sure the company name is the same as the license.
6. look for a company with in house maintenance with certifications.
7. beware of companies that have full fledged maintenance companies that are seperate entities.
8. ask for a copy of the workmans comp insurance endorsement.
9. ask if employees are on payroll and covered by work mans comp.
10 request a copy of liability insurance and E an O insurance.
11. most of ohio has led base certifications, ask about the lead requirements and how they handle them.
12. ask if the units are inspected annually and by who? ask if you receive pictures of any units during inspection as well as any work performed.
13. ask for a copy of the policy and procedures for leasing units and the written standard qualification practices.
14. ask how many units they have in management and how many staff they have and what positions they hold. On average there should be one employee in the office per every 75 units.
15. ask what software they use and look up the software to see if you like it.
16. review a copy of the management agreement.
Most importantly, go visit the city and management offices.
Cleveland and Toledo are both very difficult cities to find good management in.
10 Replies
- 3yMichael SmytheBusiness MemberReal Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
@Justin Blum look up @James Wise
Encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
To avoid going through the same poor experience, keep reading.
Even if someone give you a referral, don’t make the mistake of assuming that PMC will meet your expectations, just because they met the expectations of the referral source.
We also can’t believe how many owners hire the first PMC they speak with!
Then they complain their expectations aren’t being met!
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”:
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😊
Logical Property Management4.9455 Reviews - I know them all I live OOS , my phone never rings,
Quote from @Justin Blum:
Hi everyone, I’m looking to find a reputable property management company in Cleveland that can help me with section 8 properties
Thank you!
- Real Estate Broker · Toledo, OH · Member since 2016 · 58 posts · 38 votes3y
Great advise Michael Smythe.
My addition to the topic:
Do not use referrals from anyone that is getting paid a fee to advertise companies. I have seen James Wise refer people to companies in Toledo and when I sent an email about stopping the fraud in Toledo they sent me a form to pay a large fee to advertise. The company that was recommended was a company that got tons of people into bad investments. Nothing against James Wise, just make sure you do your own research, I'm sure they have good people too.
You need to contact these companies yourself and interview them. Go to Cleveland and meet the broker personally. If the broker will not give you the time of day, move on. If there is no broker, move on. In Ohio a property management company must be a licensed broker to run a management company.
1. check public records to see how many evictions they file monthly.
2. request references
3. ask for references from contractors that they use that are licensed.
4. check reviews . don't look for 5 stars, but look for reviews from other investors. Read tenant reviews but know tenants put bad reviews up when they are being evicted. So look for some good reviews from tenants also.
5. look up the state license- make sure the company name is the same as the license.
6. look for a company with in house maintenance with certifications.
7. beware of companies that have full fledged maintenance companies that are seperate entities.
8. ask for a copy of the workmans comp insurance endorsement.
9. ask if employees are on payroll and covered by work mans comp.
10 request a copy of liability insurance and E an O insurance.
11. most of ohio has led base certifications, ask about the lead requirements and how they handle them.
12. ask if the units are inspected annually and by who? ask if you receive pictures of any units during inspection as well as any work performed.
13. ask for a copy of the policy and procedures for leasing units and the written standard qualification practices.
14. ask how many units they have in management and how many staff they have and what positions they hold. On average there should be one employee in the office per every 75 units.
15. ask what software they use and look up the software to see if you like it.
16. review a copy of the management agreement.
Most importantly, go visit the city and management offices.
Cleveland and Toledo are both very difficult cities to find good management in.
- 3yRobert EllisBusiness MemberDeveloper · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
Quote from @Justin Blum:
Hi everyone, I’m looking to find a reputable property management company in Cleveland that can help me with section 8 properties
Thank you!
We have property management that we are working on for 10 years
Section 8 Launch52 Reviews - I know them all, I am aware who to stay away from as well, happy to help
Quote from @Justin Blum:
Hi everyone, I’m looking to find a reputable property management company in Cleveland that can help me with section 8 properties
Thank you!
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