Property Management in Cape Coral / Fort Myers Area

Property Management in Cape Coral / Fort Myers Area

Real Estate Investor · Hermosa Beach, CA · Member since 2016 · 20 posts · 6 votes

Hi everybody.

I am going to MY FIRST EVER PROPERTY INSPECTION today!!! So nervous and excited at the same time. I got lucky on my first try. Sent out a bunch of lowball offers and something came back and was negotiated to a point where I will get a 12% ROI because I'm buying cash. If it were a mortgage it would be close to 24%!! But they would not have accepted so low if it were financed...

Anyway. I've interviewed 4 different PMC's and had them give me client contact info so I could speak personally with investors who have hands on experience. Spent a few good hours talking with them.

Im down to Sunshine Rentals, Miloff Aubuchon Realty Group, and Cape Shore Property Management.

Sunshine - 245 properties, 10% management fee, $250 tenant renewal fee, 1 months rent for New placement tenant... None of their clients returned my calls so I don't have any reviews.

Miloff Aubuchon - 250+ properties AND a lot more vacation units, 10% management fee, $300 tenant renewal fee, 1 months rent for New Tenant Placement. 3 Clients returned my calls (all of them had no idea who I was or that I was calling so it shows I was given a random list) and all were in love with the company and barely knew it was there.

Cape Shore PM - 50 properties, 8% management fee, 45 dollar tenant renewal fee, 1 months rent for New Tenant Placement.  Only gave me the numbers of 2 clients, seemed like they were pushing me towards calling one in specific client but neither of them have called me back yet.

Pros and Cons - Miloff is a big company with a seemingly great reputation. but is the most expensive. Wondering if I will get lost in the pack (even though I want to be hands off). I wonder if their connections will lead me to getting the first word on MORE INVESTMENT PROPERTIES. They have several divisions and dozens of realtors..

Sunshine, I don't know anything about and while the other two companies responded to my emails with immediate phone calls, they emailed which isnt a terrible thing but I haven't been able to form a bond.

Cape Shore is small maybe 8 employees. OBVIOUSLY LESS EXPENSIVE Would this combo make their contracting, repair referrals cost more? With less people at their disposal, they perhaps hear of less DEALS but I might be more likely to get a referral to a deal since I'm one of only 50.

Does anyone have any experiences with these companies? Why can't I find companies like these on yelp? Thanks for any help.

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  • Property Manager · Cumming, GA · Member since 2015 · 261 posts · 199 votes
    10y

    If at all possible, I would make a visit to each office at this point.   Walking in the front door will allow you to really gauge the company and staff.   Are they smiling and enjoying themselves or is it chaos and frustration?  

    Also, verify how many staff members do they have per home and what is the employee turnover for your particular location assuming they use the property manager model.   An individual with too many properties can't do a great job all the time for you. 

    Hope that helps.

  • Kirkland, WA · Member since 2013 · 69 posts · 13 votes
    10y

    Hi Mark,

    I use a company called The Chang group and they have been excellent for the last 5 years for me. Speak with a Lady called Mirna.

    Regards


    Andy

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