Property Management question.

[Manley Woods]

Good afternoon everyone, and I hope all are well. I’m an out of state investor and I’m looking for property in the Cleveland, Akron Columbus areas. My problem is it seems like every property management company I have spoken too is requiring that a minimum of $700 remain in the account for repairs. That doesn’t leave much or anything left for remittance. Can anyone recommend a property management company that doesn’t have that standard?

[James Wise]

Quote from @Manley Woods:

Good afternoon everyone, and I hope all are well. I’m an out of state investor and I’m looking for property in the Cleveland, Akron Columbus areas. My problem is it seems like every property management company I have spoken too is requiring that a minimum of $700 remain in the account for repairs. That doesn’t leave much or anything left for remittance. Can anyone recommend a property management company that doesn’t have that standard?

 Legitimate companies don't work with people who won't fund a reserve fund as small as $700.