Skip to content
Managing Your Property

User Stats

14
Posts
1
Votes
James Mitchell
Pro Member
  • Rental Property Investor
  • Charleston, WV
1
Votes |
14
Posts

Washington DC Property Managers

James Mitchell
Pro Member
  • Rental Property Investor
  • Charleston, WV
Posted Nov 17 2023, 17:40

I'm looking to find a property manger who can assist with managing a portfolio of 5-10 buy and hold rentals in the DC area. Most of the property management firms I have found through basic web searches are solely focused on STRs. Does anyone have any recommendations? Or can point me in a good direction for my search? Thank you in advance!

James 

User Stats

14,247
Posts
11,523
Votes
Chris Seveney
Pro Member
#2 All Forums Contributor
  • Investor
  • Virginia
11,523
Votes |
14,247
Posts
Chris Seveney
Pro Member
#2 All Forums Contributor
  • Investor
  • Virginia
Replied Nov 17 2023, 17:52

@James Mitchell

We use Goldberg property management and have been satisfied with them

User Stats

14,247
Posts
11,523
Votes
Chris Seveney
Pro Member
#2 All Forums Contributor
  • Investor
  • Virginia
11,523
Votes |
14,247
Posts
Chris Seveney
Pro Member
#2 All Forums Contributor
  • Investor
  • Virginia
Replied Nov 17 2023, 17:52

@James Mitchell

@Russell Brazil probably has some he can add

BiggerPockets logo
BiggerPockets
|
Sponsored
Find an investor-friendly agent in your market TODAY Get matched with our network of trusted, local, investor friendly agents in under 2 minutes

User Stats

16,587
Posts
28,527
Votes
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
28,527
Votes |
16,587
Posts
Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied Nov 17 2023, 19:32
Quote from @Chris Seveney:

@James Mitchell

@Russell Brazil probably has some he can add


 Funny enough, Goldberg Group is who I recommend

District Invest Group Logo

User Stats

14
Posts
1
Votes
James Mitchell
Pro Member
  • Rental Property Investor
  • Charleston, WV
1
Votes |
14
Posts
James Mitchell
Pro Member
  • Rental Property Investor
  • Charleston, WV
Replied Dec 4 2023, 11:03

@Chris Seveney and @Russell Brazil Thank you for your recommendations! We will definitely check them out. :)

User Stats

2,872
Posts
1,378
Votes
Michael Smythe
Property Manager
#4 Starting Out Contributor
  • Property Manager
  • Metro Detroit
1,378
Votes |
2,872
Posts
Michael Smythe
Property Manager
#4 Starting Out Contributor
  • Property Manager
  • Metro Detroit
Replied Dec 7 2023, 09:56

@James Mitchell

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”:

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😊