Anyone have a good experience with a Cleveland Property Manager?

Question

I’m an investor based in CO (I have 15+ units in Colorado and New York) and have had a nightmare so far finding a good manager for my 2 unit in Cleveland. The first management company did nothing to screen tenants which lead to 4 evictions in a row. The second did a good job rehabbing my units but took 8 months to find a tenant (I just moved on as it was clear he didn’t know what he was doing). The latest (a large management company) just quoted me $5460 to paint an 800 sw ft unit, $770 for an apartment that was just done and is great shape, $2600 on cleaning and $2,160 to replace a functioning water heater that’s 5 years old. Needless to say, I’m ending that relationship. I just want a fair partner I can grow my portfolio with. I care about Cleveland and always treat my tenants and partners well.

Jen Anderson · Answer

Nathan How did you get your units rented out without living there?

My property manager has gone MIA on me and I'm getting very nervous

Nathan Crandall · Answer

I have a family member who lives in Akron.  That checked that box with Cleveland

Nathan Fisher · Answer

As a Cleveland Property manager, I can say, it's the toughest role in the RE industry. We're pulled in 5 directions at all times, balancing the needs, of the client, residents, contractors, the local Govt, and our own profit needs. Cleveland proper is particularly nuanced.

Every PM has strong and weak areas. Ultimately, you need to find a property manager that focuses on what is most important to you. Communication? Focus on that. Tenant placement? Find someone who's great at that.

Arman Ahmed · Answer

@Nathan Crandall

Nathan, I hear you — Cleveland property management can be hit or miss. I work with a few solid PMs in the area who are fair on pricing and actually care about long-term relationships. If you’d like, I can connect you with the ones I trust so you don’t have to deal with those headaches again.

Mylene Santos · Answer

@Nathan Crandall  Hi!  Can I ask who you went with and if you are happy?  I currently have a PM in Cleveland that does not communicate or follow through so I am looking to leave before my next unit gets rented.

Mylene Santos · Answer

I wish I could but I don't think I am in that position yet.  They have definitely lost business from me though.  I bought another house earlier this year but in Memphis this time.  If they had been good, I would have purchased through them again.  Hard to find people that take pride in their work nowadays.  Good luck to you!

Nathan Fisher · Answer

can't say I blame you. how are you handling the local agent in charge?

Ryan Arth · Answer

@Nathan Crandall Those prices are quite excessive. Assuming that the property itself and the area that it is in aren't major red flags, that vacancy is excessive as well.

I agree with the other Nathan, it is a thankless job, but that doesn't give the terrible PMs out there a pass. There is rampant neglect and mismanagement in the industry, and it makes it difficult to stay on top of the situation remotely, as the investor has approached the situation with the ideal of being more "passive".

Nadeem Alamgir · Answer

Hey Nathan that's rough... I feel you there. I can refer you to some really solid property managers.

Anyone have a good experience with a Cleveland Property Manager?

Most Popular Reply