Should you pick a property manager based on price or service?

[Deirdre Lizio]

I’m working on building a property management company in Boston that truly solves real problems for owners and tenants, and I’d love your insights. Here’s the big question: Is property management all about profit, or should it be more of a customer-focused experience? What makes a property manager actually worth it— having more freedom, peace of mind, saving money, reducing risks, or something else entirely?  Is the experience still important to you, even when your property is thriving financially?  Do expectations vary by property type or asset class?  Thanks for any thoughts on this!  

[Peter Tverdov]

Sadly, many people treat them like a commodity. We have a property management company in New Jersey where we make some of our best clients hundreds of thousands of dollars between helping them force appreciation, increase cash flow, finding them deals etc. I think our best client in the last 4 years we probably made them $750,000.

Then I get the call from the one property owner trying to nickel and dime me that we will charge $190 for his townhome and he can get someone else to do it for $125. Okay pal, go with them I am sure it will work out the same (sarcasm) (hangs up phone).

Like anything in life, you get what you pay for.