Updated 1 day ago on . Most recent reply

What do you think makes a great property manager
For those of you who have hired property managers in the past, I’d love to hear your perspective. What qualities, systems, or habits made a property manager stand out and made the experience positive for you? On the flip side, what things have frustrated you or caused you to move on to another manager?
This seems to vary a lot depending on investor goals, so I’m curious to hear different experiences.
- R. Elle Berry

Most Popular Reply

- Property Manager
- Royal Oak, MI
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Using consistent communication to set and agree on expectations.
Sounds simple, but it is NOT!
Challenges:
1) Timing - PMCs don't always have time to communicate with an owner as roughly 20% of the time they need to make a "spot" decision.
2) Owners NOT Responding Timely - this gets so bad at times we've had to resort to messages ending with, " if we don't hear back from you within X days, you'll force us to use our best judgment subject to your portfolio's available funds".
3) Unreasonable - some want MORE than 3 bids, want bids on nonsensical stuff.
4) Desperate Owners - we know many have mortgages to pay, but when something needs fixing, we are NOT a lender to cover the cost and pay ourselves back with future rents! That's often actually illegal.
5) Uneducated Owners - it's really not a PMCs job to have to explain management basics to owners. They should be learning here on BP and other forums - unless they want to pay us by the hour for the extra time they expect from us. They also don't bother reading or following the management contracts they sign or take the time to read their PMC's website for common questions.
- Drew Sygit
- [email protected]
- 248-209-6824
