New to Real Estate · Kansas City, MO · Member since 2021 · 13 posts · 10 votes
Wanted to share a quick experience and get some perspective from others here…
I hired a property manager thinking it would make my life easier, but honestly it turned into one of the more frustrating parts of owning the property.
I dealt with:
Constant lack of communication
High turnover on their team (felt like I was talking to someone new every time)
Accounting that was all over the place
Tenant satisfaction issues
Expensive maintenance with a 10% markup on top of already high vendor bids
Over time, it just felt like I was constantly being overcharged and never really knew what was going on. The trust slowly disappeared.
What’s crazy is… I still didn’t rush to replace them.
Part of it was:
I didn’t fully trust myself to self-manage
I didn’t want the day-to-day responsibility
And honestly, I didn’t even know how to find a good property manager after that experience
I originally found them through a BiggerPockets + a quick Google search, which clearly didn’t work out the way I expected.
So now I feel stuck in the middle: Bad PM vs figuring it out myself
Curious how others have navigated this…
Have you ever been in a situation where you lost trust in your PM but stayed anyway?
At what point did you decide to switch (or self-manage)?
How do you actually vet a GOOD property manager?
And how much visibility do you realistically expect into what they’re doing (repairs, costs, tenant issues, etc.)?
Would really appreciate hearing how others have handled this, because I know experiences can vary a lot.
Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes
6mo
Well, if you are only asking now "How do you actually vet a GOOD property manager", there's your problem. PM's are like auto mechanics, or Doctors, etc. They come with various specialties, and various levels of competence despite "certifications". The fact they are having a lot of internal turnover confirms the company is poorly run. How many units do they manage for others? Is the company focused on PM, or do they primarily work Sales?
Was their Management Agreement clear and detailed? Did they explain key details? Did you ask about their systems for critical tasks, such as Tenant Screening, Accounting Practices with sample Owner Reports, does your even State require licensed PM's? What is their procedure for late fees? Did you review and discuss their "standard" Rental Agreement and entire process? How do they handle violations of rules or of late payments. Were communication methods and response time discussed?
You cannot assume that any particular issue will be done, or done the way you want it. You, or the PM, need to define "good", because no two Vendors will define it the same way. The PM should have clear systems in place.
Well, if you are only asking now "How do you actually vet a GOOD property manager", there's your problem. PM's are like auto mechanics, or Doctors, etc. They come with various specialties, and various levels of competence despite "certifications". The fact they are having a lot of internal turnover confirms the company is poorly run. How many units do they manage for others? Is the company focused on PM, or do they primarily work Sales?
Was their Management Agreement clear and detailed? Did they explain key details? Did you ask about their systems for critical tasks, such as Tenant Screening, Accounting Practices with sample Owner Reports, does your even State require licensed PM's? What is their procedure for late fees? Did you review and discuss their "standard" Rental Agreement and entire process? How do they handle violations of rules or of late payments. Were communication methods and response time discussed?
You cannot assume that any particular issue will be done, or done the way you want it. You, or the PM, need to define "good", because no two Vendors will define it the same way. The PM should have clear systems in place.
Hi Richard,
I completely agree with your assessment—it really does come down to a lack of systems and transparency. Your comparison to auto mechanics or doctors is spot on; certifications only go so far if the operational competence isn't there.
While I resonate with your statement about the importance of clear systems, I think that if a PM is good enough at their job and hyper-focused on growth, they can do a great job of selling their services but lack the accountability once the agreement is signed. After speaking with several property owners, I get the sentiment that it’s not a matter of if your property manager will burn you, it’s a matter of when.
I'm definitely going to take your advice to heart and start asking much more pointed questions about their specific procedures for things like tenant screening and late fees.
Wanted to share a quick experience and get some perspective from others here…
I hired a property manager thinking it would make my life easier, but honestly it turned into one of the more frustrating parts of owning the property.
I dealt with:
Constant lack of communication
High turnover on their team (felt like I was talking to someone new every time)
Accounting that was all over the place
Tenant satisfaction issues
Expensive maintenance with a 10% markup on top of already high vendor bids
Over time, it just felt like I was constantly being overcharged and never really knew what was going on. The trust slowly disappeared.
What’s crazy is… I still didn’t rush to replace them.
Part of it was:
I didn’t fully trust myself to self-manage
I didn’t want the day-to-day responsibility
And honestly, I didn’t even know how to find a good property manager after that experience
I originally found them through a BiggerPockets + a quick Google search, which clearly didn’t work out the way I expected.
So now I feel stuck in the middle: Bad PM vs figuring it out myself
Curious how others have navigated this…
Have you ever been in a situation where you lost trust in your PM but stayed anyway?
At what point did you decide to switch (or self-manage)?
How do you actually vet a GOOD property manager?
And how much visibility do you realistically expect into what they’re doing (repairs, costs, tenant issues, etc.)?
Would really appreciate hearing how others have handled this, because I know experiences can vary a lot.
Finding a good PM can be a lot like finding good contractors. You might to have to go through a few to find the good ones that you work best with.
Depending on where your investment property is located, you might want to attend some networking events to see what other companies are out there or reach out to an investor focused realtor. They'll generally have a few recommendations on property management companies that you can work with.
You can still self-manage but that will end up taking a lot of time and effort as you scale your portfolio. At the end of the day, nobody will manage your property the same way you would so that's something to factor into your decision.
To answer your questions:
1. Yes, I ended up losing trust in one of my PM's before and am in the process of switching one of them out now.
2. I switched once I was able to find a different one with a good reputation in the industry. Spoke to multiple people, all who recommended using them. Looked at their model, how they got started and how they scaled their business.
3. Answered this above - go to networking events, interview and vet the PM's and try to also see if anyone else can confirm / verify their experiences using those PM's.
4. When it comes to my PM's I expect them to keep me in the loop, but manage the day to day items and come to me with appropriate updates when the situation requires it. Any maintenance that goes above a certain $$ and need approval, if tenants don't pay or require assitance, etc.
If you're out of state, I 'd recommend finding a good property manager that you work well with. You'll still need to monitor things every month, but you'll be glad they're around and helping you out. OOS self-managing is doable, if you're willing to put in the work and build the systems to be efficient.
Real Estate Agent · Memphis · Member since 2026 · 555 posts · 320 votes
6mo
You didn’t make a mistake trusting a PM — you just ran into a lack of systems and transparency, which is usually what breaks trust over time.
The issues you listed (communication gaps, team turnover, unclear accounting, high maintenance costs) are less about one bad incident and more about how the operation is run day to day. When there’s no consistent process, everything starts to feel reactive and opaque.
Most owners don’t switch immediately for the same reasons you mentioned — time, uncertainty, and not wanting to take on operations themselves. The tipping point is usually when it starts feeling like you’re spending time managing the manager.
In terms of what to expect from a good PM, a few basics should be consistent:
Clear communication rhythm (not just when something goes wrong)
Transparent maintenance process (estimates, approvals, before/after photos)
Clean, understandable financial reporting
Consistency in who you’re dealing with or at least structured handoffs
On vetting, you’ll usually learn more from how they explain their process than from reviews. If they can’t clearly walk you through how they handle maintenance, tenant issues, and reporting step-by-step, that’s usually a sign of problems later.
Switching doesn’t automatically mean self-managing — it just means finding a better operational fit. The goal isn’t to eliminate involvement completely, but to have visibility without friction.
Accountant · Los Angeles, CA · Member since 2016 · 2k+ posts · 900 votes
6mo
First, keep in mind that most property managers are overseeing tens, if not hundreds or thousands of units—so if you only have one or a few properties, you’re realistically not going to be a priority.
Second, accounting and bookkeeping is almost never a property manager’s strength. Their owner statements are helpful, but they’re not a substitute for your own books. You still need to track everything independently and reconcile your bank and credit card accounts to ensure all transactions are captured and nothing is missed.
First, keep in mind that most property managers are overseeing tens, if not hundreds or thousands of units—so if you only have one or a few properties, you’re realistically not going to be a priority.
Second, accounting and bookkeeping is almost never a property manager’s strength. Their owner statements are helpful, but they’re not a substitute for your own books. You still need to track everything independently and reconcile your bank and credit card accounts to ensure all transactions are captured and nothing is missed.
I'll be the first to admit that as a PM, my strength was Operations, not Finance/Accounting, but once you have a legit Company, vs. a One Man Show, you staff for the accounting process, with separate Receivables and Payables, and a variety of checks and balances for security of the Client's, and the Company's funds.
I am sure there are operational differences from one State to another, but I doubt accounting Best Practices are that drastically different. Every Licensed PM Co I have worked with utilized double entry accounting, with all income going into the Client Trust fund, and then was paid out from there based on the Vendor Invoices that the Owner Account PM approved for payment, and ultimately, the monthly NET being paid or deposited direct to Owner's Personal or Business Banking account. Numerous Owners would have different LLC's or other partnerships for each of their properties, and each was accounted for separately. For some Owners, we provided an additional "Consolidated" report for and Income Statement, or P&L, or even delinquencies. The individual property reports included a General Ledger as well as the various monthly reports. The only "reconciliation" needed was a review of the paid invoices, and confirming the single monthly NET was deposited by mid month of the current month.
We always had a third party CPA audit all accounts annually, both our Rentals and our HOA/Condo Association Accounts. In fact, years ago when I was in the Midwest, the State sent an auditor, unannounced, annually to review all PM accounts. My current State does not require that, but it seems prudent to me.
Wanted to share a quick experience and get some perspective from others here…
I hired a property manager thinking it would make my life easier, but honestly it turned into one of the more frustrating parts of owning the property.
I dealt with:
Constant lack of communication
High turnover on their team (felt like I was talking to someone new every time)
Accounting that was all over the place
Tenant satisfaction issues
Expensive maintenance with a 10% markup on top of already high vendor bids
Over time, it just felt like I was constantly being overcharged and never really knew what was going on. The trust slowly disappeared.
What’s crazy is… I still didn’t rush to replace them.
Part of it was:
I didn’t fully trust myself to self-manage
I didn’t want the day-to-day responsibility
And honestly, I didn’t even know how to find a good property manager after that experience
I originally found them through a BiggerPockets + a quick Google search, which clearly didn’t work out the way I expected.
So now I feel stuck in the middle: Bad PM vs figuring it out myself
Curious how others have navigated this…
Have you ever been in a situation where you lost trust in your PM but stayed anyway?
At what point did you decide to switch (or self-manage)?
How do you actually vet a GOOD property manager?
And how much visibility do you realistically expect into what they’re doing (repairs, costs, tenant issues, etc.)?
Would really appreciate hearing how others have handled this, because I know experiences can vary a lot.
Here's some copy & paste info to help you find a new PMC:
We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
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!
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
6mo
@Warner Alexander if you are going to switch list out all the things that were not good with this PM and try to frame questions that will address them with the next PM. Didn't get a full invoice for the repair, how would the new company handle that. Too expensive repairs, what is the point at which they get competitive bids? Also consider what level of communication they have and what level you expect. It needs to be aligned.
I see this a lot, and honestly it’s usually not just a “bad PM” — it’s a lack of systems.
The stuff you mentioned:
poor communication
constant turnover
messy accounting
expensive maintenance
…that’s what happens when there’s no real structure behind the scenes.
The biggest red flag in your post is trust. Once you’re questioning the numbers and decisions, it’s hard to come back from that.
And you’re not wrong for not leaving. Most owners get stuck in that middle ground — don’t love the PM, but don’t want to deal with self-managing either.
If you do switch, I wouldn’t focus on reviews or price. I’d ask:
how do you handle maintenance start to finish?
how fast do you get estimates?
who actually owns my property internally?
Good companies have clear answers. Bad ones don’t.
At the end of the day, good property management isn’t about collecting rent — it’s about having systems that make everything feel predictable.
Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
6mo
This info was initially posted by BP legend Nathan Gesner who last I heard is dealing with some tough family health issues.
”The mistakes you make could be costing you far more than it would cost to hire a professional. A good property manager can protect your property, income, time, and sanity.
Start by going to www.narpm.org to search their directory of managers. These are professionals with additional training and a stricter code of ethics. It's no guarantee but it's a good place to start. You can also search Google and read reviews. Try interviewing at least three managers.
1. Ask how many units they manage and how much experience they have. Feel free to inquire about their staff qualifications if it's a larger organization.
2. Review their management agreement. Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.
3. Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers. It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees. Fees should be clearly stated in writing, easy to understand, and justifiable. Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more. If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee. Don't be afraid to negotiate, particularly if you have a lot of rentals.
4. Review their lease agreement and addenda. Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.
5. Don't just read the lease! Ask the manager to explain their process for dealing with maintenance, late rent, evictions, turnover, etc. If they are professional, they can explain this quickly and easily. If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.
6. Ask to speak with some of their current owners and current/former tenants. You can also check their reviews online at Google, Facebook, or Yelp. Just remember: most negative reviews are written by problematic tenants. A tenant complaining online might indicate that the property manager handled them appropriately, so be sure to ask the manager for their side of the story.
7. Look at their marketing strategy. Are they doing everything possible to expose properties to the broadest possible market? Are their listings detailed with good-quality photos? Can they prove how long it takes to rent a vacant property?
This isn't inclusive but should give you a good start.”
I’ve owned and operated property management companies for over 20 years in the Metro Atlanta market, and what you’re describing is unfortunately very common in larger, scale driven operations. One of the biggest things I’d look for is a small team model, where the focus is on execution and owner communication rather than just adding doors and growing headcount. Take time to understand who the actual players are, the person managing your property should have both the motivation and the tools to perform, and the further the broker or owner is removed from daily operations, the easier it is for standards to slip.
In my current company, we run an agent style structure where major decisions and directional changes go through me as broker owner and are carried out with close oversight, which tends to produce better results for owners. A final practical tip is to look up properties they manage and track down real owner feedback, you can often find them through public records, forums, or social platforms, and that insight is far more valuable than reviews on Google. A great pm should reduce market vacancies, maximize rent, push down maintenance cost and therefore, more than pay for themselves.
Property Manager · Calabasas, CA · Member since 2026 · 141 posts · 67 votes
6mo
Coming from the commercial side (NNN, modified gross, retail/industrial in SoCal), I'd add one thing the residential PM world doesn't talk about enough: the accounting structure matters more than the management fee.
On commercial leases you're tracking CAM pools, gross-up provisions, base year expenses, admin fees on top of admin fees — all of which a typical residential PM firm has zero framework for. I had one PM try to manage a small retail strip for me and their monthly report was essentially "rent collected, maintenance paid." No CAM reconciliation, no expense categorization by lease clause, no distinction between recoverable and non-recoverable costs. At year-end I had to rebuild the whole ledger from scratch.
The maintenance markup thing you mentioned is real and worth pushing on explicitly. In commercial, I ask for the actual vendor invoice alongside the work order on anything over $500. Some PMs resist this — and that resistance tells you everything. The ones with nothing to hide hand it over immediately.
For vetting: ask them to walk you through how they'd handle a tenant disputing a CAM charge, or how they track which repairs are recoverable under the lease. If they look confused, move on.
Property Manager · Atlanta, GA · Member since 2025 · 44 posts · 22 votes
6mo
Warner — first off, I appreciate your honesty here. What you’re describing is unfortunately a very common story in property management, and it usually comes down to a mismatch between expectations, systems, and communication.
As someone who’s been in the property management space here in Atlanta for years, I can tell you the best client–manager relationships are built on clear communication, transparency in accounting, and accountability in decision-making. When any one of those breaks down, trust follows right behind it.
A few things I encourage investors to look for when vetting a new property manager:
Ask about structure and reporting. How often are financials delivered? Can you access your portfolio data online anytime?
Meet the specific team handling your property (not just the salesperson). Turnover happens, but you should know who your day-to-day point of contact is.
Request sample maintenance invoices. Look for transparency on pricing and markup policies. A good PM will gladly show you how vendor relationships work.
Gauge their investor focus. Some companies excel with tenants but aren’t built around owner communication or maximizing return. You want both. The right property manager makes your portfolio feel smaller—more predictable, efficient, and easy to oversee from anywhere. The wrong one makes it feel like a second job. You were right not to rush the switch, but it sounds like your instincts are telling you it’s time to re-evaluate. A strong PM should not only preserve your trust—they should earn it every month. If it’s helpful, I’m happy to share a simple vetting checklist we use with out-of-state investors to help them avoid repeating a bad experience. It’s designed to make sure your next partner aligns with your goals before you ever sign a management agreement
Property Manager · Fort Worth, TX · Member since 2014 · 77 posts · 29 votes
6mo
I hear this story way too often... and it's exactly why people lose faith in our industry. You didn't make a mistake trusting a PM. You just hired the wrong one. A real property manager doesn't hide behind 10% maintenance markups or messy accounting. At Westrom Group, we run zero markups and total transparency because trust is the only currency that matters. Don't settle for bad management just because you're scared to self-manage... there are good operators out there who will actually protect your asset.
Hello Warner, if you just have 1 property in a generally good neighborhood you can do it yourself. There are plenty of good leaning resources. Brandon turners book Managing Rental Properties is soup to nuts. Using a PM tool to automate everything makes it very time efficient. You also learn a lot and if you want to hire a PM in the future you know exactly how you want it managed. I started managing 4 this year and once you have good tenants in place it isn't much work at all. Managing a PM is a fair amount of work. You still get told about every issue and have to make decisions about problems if you have a PM.
