New to Real Estate · San Antonio · Member since 2020 · 5 posts · 0 votes
Hello, I've had a property in the Graysville area for about 4 years, and the last year has been an absolute nightmare with my current property manager due to it being almost impossible to get in touch with anyone or get responses to emails. I am an out of state investor and this headache has been going for too long.
I want to know what your recommendations for Property Management Companies in the area?
We’re a Property Management Company (PMC) and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC.
In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
So, ask more questions!
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!
A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
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😊
Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
Hi Andrew - sorry to hear about your experience - would be happy to connect about your property. We are have boutique property management company would be happy to share more about how we do and See if we might be a good fit for your property.
Realtor · Waikoloa, HI · Member since 2023 · 21 posts · 14 votes
1y
Aloha Andrew- I am also an out of state investor with a property in Vance, AL and have had good experiences with America's Rental Managers (ARM). If you need some specific points of contact let me know- shoot me a text or email.
Real Estate Consultant · Ann Arbor, MI · Member since 2023 · 85 posts · 93 votes
1y
I'd call Patrick Morton as per his response - I always suggest local boutique management companies. If you want other options (and I would interview a few), AirDNA "top" PM's in Birmingham include the following (they are presented in AirDNA by ID number that takes you to their profile)
We’re a Property Management Company (PMC) and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC.
In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
So, ask more questions!
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!
A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
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😊
Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
Property Manager · Phoenix, AZ · Member since 2024 · 523 posts · 196 votes
1y
Hey Andrew, sorry you’ve been dealing with that. Being out of state and not hearing back from your property manager is incredibly frustrating. That kind of communication issue really defeats the purpose of having someone manage things for you.
I’d suggest talking to a few local companies and getting a feel for how they operate. Some of the smaller or more local managers can be great, but it really comes down to how well they communicate and follow through.
It also helps to ask for a sample management agreement up front. You can learn a lot by seeing what is and isn’t included in writing before you sign anything.
Hello, I've had a property in the Graysville area for about 4 years, and the last year has been an absolute nightmare with my current property manager due to it being almost impossible to get in touch with anyone or get responses to emails. I am an out of state investor and this headache has been going for too long.
I want to know what your recommendations for Property Management Companies in the area?
@Andrew Did you have any luck finding a property manager?
Property Manager · Cincinnati, OH · Member since 2016 · 82 posts · 55 votes
11mo
The #1 question you (and anyone considering hiring a property manager) should ask is "how many units per staff member do you have?"
The likely reason you can't get any response from your PM is because they are understaffed and overworked. They aren't going to care about you as a client if they think they've got you locked into a 12 month contract when they are under staffed.
The average property management company across the country runs at around 100 units per staff member. Our company runs at ~20 units per staff member and we NEVER get any complaints about tenants, or let alone our CLIENTS, complaining that they can't get a hold of anyone.
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