Hi Fellow BPers,
I recently moved to the Philadelphia area and am planning to invest in a small multifamily building sometime in the first 3-6 months of next year. As I'm analyzing deals and getting out there to tour properties, I'm also trying to build a team for when I ultimately start making offers. I'm currently researching/calling property managers in the area. In looking at different companies online, I'm discovering that it's hard to find legit reviews on Yelp or other online forums. A lot of the reviews seem fake and are all five stars. This raises a huge red flag for me from the get-go as it leads me to believe that they're not an honest operation if they're posting fake reviews of their services. I'm calling some companies and am having good conversations with them and will of course ask for references, but it's really hard to find honest reviews of the various companies online. Has anyone else had this experience, particularly in Philly, and if so what would you recommend in terms of getting an honest opinion of these companies? For all I know, if the online reviews are doctored, then I can't really trust the references they provide. Many thanks in advance for any advice you could offer and happy holidays!
Welcome to Philadelphia investing!
I was recently interviewing property managers for a 127 unit here in Philadelphia, and I was incredibly impressed by (and was confirmed by the recommendations of others) Property Management Group (PMG). https://www.propertymanagementgroup.com/
If you reach out, ask for Matt
I was wandering, if you apply for Philadelphia rental license as an agent for your client, the license still will be in your clients name or it will be issued in the management company's name?
Or is there a way to have the license in management company's name instead of owners?
Disclosure: Diversified Investors Group
Welcome to BP!
Congrats on the investment, property management is key to success with real estate investment in Philadelphia for growth and sanity. Would suggest attending some Diversified Investors Group to greet and speak with other investors in the market. Our next sub group meeting is at Moonshine Philly in South Philadelphia.
Let me know if you have any questions.
@Yuriy Skripnichenko the license would be in the property owner's name; but the contact name, email and number is typically in the agent's name. To rent a property in Philadelphia, a local agent (someone who is physically in Philadelphia) needs to be connected to the property. But it doesn't have to be a licensed or even a paid individual.
Do you know if it's possible to get rental license in the property manager's name instead of owners or someone else but the owner?
I've never tried that, but I'm planing on doing it with my current purchase and wondering if it works.
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