Should I replace my property manager before host even lists?

Question

Hi All - I need your collective thoughts on whether I'm unreasonable or my chosen property manager. This is my second investment property, but first in Atlanta.

I closed on home March 24. Prop manager came to meet me same day. We discussed the punch list to get it ready for rental and since then - a little more than 2.5 weeks - all I've heard is that an affiliate company has come and scoped work, but they have not provided any quotes and say they can't give any guidance or a partial quote, and that instead I should be patient.

The list is kinda long - about 15 items with most being handyman work (install blinds, add hanger rack to closet, add rubber footers to atic ladder, etc). Specialty items include adding privacy fence, creating a flower bed, a specialty water valve, and buying a scratch and dent washer, dryer and potential dishwasher.

Is not hearing anything back normal? What's the normal turnaround for these types of things? Have others had a similar experience?

Due to their slow pace amd considering they were just hired, I'm considering replacing them before the home is even listed.

Thanks all for your thoughts

Stephanie Walker · Answer

Time = money. 2.5 weeks for even just a quote on a few small jobs is too long.

For context, I'm also a PM. It takes maybe 2-5 days to gather quotes typically.

Melissa Veazie · Answer

Wow! A 2.5-week turnaround is completely unacceptable. I have scopes completed and back to my investors within 72 business hours of a vacancy. If there are specialty trades involved—things a handyman can’t do—those estimates may take a bit longer, but that doesn’t stop me from communicating with my investors. I always provide a quote for what I have so far and clearly let them know I'm awaiting estimates on any additional work. Transparency is key—no holding back information.

I will say, Atlanta is a different beast compared to Jacksonville, which is the market I’m based in. That said, I’ve managed properties in Atlanta remotely from Jacksonville for nine years (previously). The key is having established vendors who can actually get the work done. I do have a handyman in Atlanta I’ve used on several of properties that I managed, and I’d be happy to pass along his info if you're interested. However, just being honest—I’m not sure what his current workload looks like, and it depends on whether your current PMC will allow you to do an owner turn.

Remington Lyman · Answer

I am slow to hire and quick to fire. I would definitely start interviewing other property management companies.

Michael Dumler · Answer

@Richard Shepherd, what's likely happening is that since this is such a small/inexpensive project, the property manager can't find a handyman or contractor to complete the work, or they have, but clearly, the vendor has no idea what they're doing or lacks a sense of urgency. I'm highly speculating/assuming, but I would not be surprised if your PM lied about the affiliate company scoping the home. The repair/replacement items you included above shouldn't take this long to quote. Do you have any further information regarding the PMs' experience or how long they have been operating? Moreover, where they a referral. Time to move on to a new PM, in my opinion.

Richard Shepherd · Answer

I think the firm is a medium size local boutique. Reviews online were generally positive so disappointed this have started off like they have. I chose them after doing some interviews with 3 local boutiques and 2 national (disruptor) firms.

My PM has 3 relationship managers, and my sense is they have another 5-7 employees who do showings, schedule maintenance and other admin.

I sent an email basically threatening to terminate and got the quote 2 minutes later. The quote was all over the place, with some things priced well, but most were like a 30% markup to market rate.

I got the feeling that the PM forgot to send it out for a quote in a timely fashion, and given wide spread on cost of work, the person doing the quote seems new.  Or looking to rip me off.. Hoping it's the former.

Honestly the poor quote is giving me concern.  Isn't a PM suppose to have relationships to get you good deals on work? My other PM (jacksonville, FL)  has great prices.

Drew Sygit · Answer

@Richard Shepherd how big is the PMC you hired?

Too small and they get overwhelmed, causing delays.

Too big and you get lost in bureaucracy.

Should I replace my property manager before host even lists?

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