How much should a PM involve Landlord?

How much should a PM involve Landlord?

Denver CO · Member since 2015 · 69 posts · 9 votes

Hey guys,

I've been self-managing for 5 or so years now but recently turned over the PM on a couple properties to a local property management in town. I'm so use to being involved in the day-to-day business of the property management side of things so I'm struggling to understand how much the new property manager should be communicating with me and how often.

As an example, I had a tenant break a garage door recently (drove into the door on accident). Only reason i found out is because the tenant notified me, not even the property manager. In speaking with the property manager she issued the Tenant a 14 day noncompliance letter to purchase and repair the garage door on his own. At the end of the 14 day period it would be my choice to fix the door and charge him or to take other measures.

When i asked her if she would send me a copy of the noncompliance letter to the tenant, she said she wouldnt do that unless this goes to court. 

Does that sound normal to you?

I totally value and want a property manager to take the day-to-day management off my hands, but on issues with tenant damage and I would like to be kept up to date on matters, as well as have copies of all notices provided to the tenants for my own record keeping. 

Lastly, when i try and call them to speak to my property manager 99% of the time I wind up having to submit a note in their portal and wait for a call back.

As to to the new garage door that will be installed by the tenant, I wish they would be more involved, giving the tenant some options of companies to call, and to walk them through the repair process.


Am i wrong in any of these thoughts or concerns about my current PM---or---do i need to let the property manager do their thing and learn to take a step back?

I'd be curious to hear from you all how involved a property manager keeps you into your properties.

Many thanks!

0Reply
101 views

Most Popular Reply

Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
2y

I'm getting conflicting messages here. You say that you want to be hands off and let the PM handle things, but then you're upset they won't give you a copy of a letter? That smacks of micro-management.

But I clearly don't know the whole picture. It's important that you schedule a time with the PM to cover expectations and boundaries. Find out how they prefer to communicate, when you can expect communication, and when they can run the operation without you bothering them. It's different with every PM and owner.

I'm a very "in charge" operation. I know how to manage rentals better than most landlords, so I have a hard conversation with owners up front that I expect them to leave me alone. I communicate with owners when there's a change in their income stream or when I need their permission to do something. Otherwise, I operate each property as if it were my own, always keeping the owner's best interests in mind. It works well because I proactively communicate in a manner that instills confidence in my owners.

The DIY Landlord Book4.7248 Reviews
See this reply in the discussion

30 Replies

Jump to latestLatest
  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    2y

    It also depends on who is working for the PM.  My PM changed who did their accounting as the previous person retired.  Both the new and old accountant send monthly statements, but the old accountant also used to automatically send me an annual statement at the end of the year for my taxes which is really helpful.  Now I have to ask for that, so the same owner, but different employees.  

    I do expect to know what is happening at my rentals, but to me that means, are the tenants renewing their lease or leaving, are there any problems.  And my PM sends me that information automatically; for the latter in the form of a monthly statement.  They also (occasionally as it is hit and miss) send me copies of photos from the move out inspection.

  • Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Mike M.:

    Hey guys,

    I've been self-managing for 5 or so years now but recently turned over the PM on a couple properties to a local property management in town. I'm so use to being involved in the day-to-day business of the property management side of things so I'm struggling to understand how much the new property manager should be communicating with me and how often.

    As an example, I had a tenant break a garage door recently (drove into the door on accident). Only reason i found out is because the tenant notified me, not even the property manager. In speaking with the property manager she issued the Tenant a 14 day noncompliance letter to purchase and repair the garage door on his own. At the end of the 14 day period it would be my choice to fix the door and charge him or to take other measures.

    When i asked her if she would send me a copy of the noncompliance letter to the tenant, she said she wouldnt do that unless this goes to court. 

    Does that sound normal to you?

    I totally value and want a property manager to take the day-to-day management off my hands, but on issues with tenant damage and I would like to be kept up to date on matters, as well as have copies of all notices provided to the tenants for my own record keeping. 

    Lastly, when i try and call them to speak to my property manager 99% of the time I wind up having to submit a note in their portal and wait for a call back.

    As to to the new garage door that will be installed by the tenant, I wish they would be more involved, giving the tenant some options of companies to call, and to walk them through the repair process.


    Am i wrong in any of these thoughts or concerns about my current PM---or---do i need to let the property manager do their thing and learn to take a step back?

    I'd be curious to hear from you all how involved a property manager keeps you into your properties.

    Many thanks!

     The less the owner is involved the better. Sure, the owner is kept up to date but not involved with the day to day. Of course, any legal docs with an eviction or city compliance but totally involved, no. 

  • Rick BassettBusiness Member
    Property Manager · Greater New Haven, CT · Member since 2010 · 377 posts · 434 votes
    2y

    @Mike M. We involve our client-owners as little as possible, they’re paying us to take care of things.

    We reach out to them when cost authorization is required, monthly with their statement, and are available to talk if they wish.

    We tend to drop client-owners who want to micromanage us.

    Bassett Property Management5108 Reviews
  • Gregory SchwartzBusiness Member
    Rental Property Investor · College Station, TX · Member since 2016 · 1k+ posts · 1k+ votes
    2y

    Its almost like everyone has different requirements as both the PM and the owner. Funny how that works. 

    Key take away is find someone you work well with. Be it more hands on experience or completely hands off. 

    Fun story: We're working on acquiring a portfolio. The PM / listing agent has managed these since 1990 and never met the owner in person and only talks to him quarterly. Not my cup of tea but it worked for these guys for 30+ years. 

  • Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes
    2y

    If you want to be all over it that way, save your money. Why pay someone if you want to micro manage it? Sounds like you dig managing it yourself. I manage some of mine and I have managers for others. My damn, if you have a very good PM, in my book all you should care about is seeing that monthly check and the statements at the end of the year. I cant see paying someone a percentage of my rents if Iḿ taking so much of my time to be all up in the mix like that. 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.