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Suraj Guptha
  • Investor
  • Seattle, WA
9
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Clearwater, FL property management suggestions

Suraj Guptha
  • Investor
  • Seattle, WA
Posted

Hi All, I am going to complete closing on a SFH rental property in Clearwater, FL . It is not on the beach but a couple of miles from it. I intend to rent it out to long term renters or seasonal renters (3 month minimum). Not looking to do STR because of overheads involved.

I am looking for a real estatement management company in the area that is reliable and responsive. Appreciate your suggestions very much. 

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Drew Sygit
  • Property Manager
  • Royal Oak, MI
8,922
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12,528
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Drew Sygit
  • Property Manager
  • Royal Oak, MI
Replied

In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

It's often a case of not doing enough research, so they don't know what they don't know!

Landlords mistakenly ASSUME all PMCs offer the exact same services and operate the exact same way, so price is the only differentiator.

So, the first question they usually ask a PMC is about fees - instead of asking about services.

This also leads them 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.

We have a 12 page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord. Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:

https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each don’t cover.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

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Logical Property Management
4.9 stars
443 Reviews

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