Hey everyone, I am curious if anyone has a first-hand recommendation for a property management company. I am an agent in Cincinnati and have several I love-and several not so much. Mainly curious for those that you recommend. I am always looking for new contacts/recommendations. Thanks in advance!
We’re a Property Management Company (PMC), with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
So, ask more questions!
EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
This also leads owners 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!
A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
20 Questions to Ask When Vetting a Property Management Company: Processes
13 Questions to Ask to a PMC: Communication and Documentation
24 Questions to Ask When Evaluating a Property Management Contract
Spencer, property management can be really hit or miss, so I get why you are asking for first-hand experiences. What I have found is that a lot comes down to the type of property and the style of management you prefer. Some investors want a company that is extremely hands-on with tenant communication and maintenance, while others just want the basics covered and solid reporting.
One tip is to ask other local investors which companies they are using and if they would actually hire them again. You can also look at how many units a company manages; sometimes the larger ones have more systems in place but less personal service, while the smaller firms can be more attentive but might not have as much staff depth.
If you have specific goals for your rentals (for example, minimizing vacancy vs maximizing rent vs keeping expenses low), that can help narrow down which management style will be the best fit.
We’re a Property Management Company (PMC), with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
So, ask more questions!
EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
This also leads owners 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!
A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
20 Questions to Ask When Vetting a Property Management Company: Processes
13 Questions to Ask to a PMC: Communication and Documentation
24 Questions to Ask When Evaluating a Property Management Contract
Hey everyone, I am curious if anyone has a first-hand recommendation for a property management company. I am an agent in Cincinnati and have several I love-and several not so much. Mainly curious for those that you recommend. I am always looking for new contacts/recommendations. Thanks in advance!
I have a few contacts. 1 great in Cincinnati that is my go to in the lower crime areas. I have others too who will do higher crime areas
Hey Spencer! I think you have sent a few clients our way before, greatly appreciate that. Definitely agree that there can be a super healthy relationship between Realtor & property managers, especially when they each specialize only in their area of expertise... I think there quite a bit realtors who have all the sudden become "property managers" in Cincinnati. Our company only focuses on property management, which I think is a huge box for all landlords/investors out there who are looking for a property management firm, regardless of what city you are in. That is why we send all referrals back to our realtor partners whenever they want to sell or buy more props.
A few things I'll add based upon what I know about successful handoffs between realtors and unsuccessful ones. This is geared for realtors and investors out there that might read this, not directed towards you, just based upon my experience taking 100's of referral handoffs from realtors.
1. It's critically important for the realtor to have a very good grip and understanding of what is to be expected on the rental property performance (both financially & maintenance/capex repairs wise) when you make that handoff to a property manager.
What I mean is that there are instances where if the realtor is simply "pushing their product" as I like to say, and not really understanding how their clients rental property will perform, setting their client up with unrealistic and incorrect expectations - then you are setting yourself up for failure on the referral handoff.
The value we add to our Top Referral Partners is to make them be the HERO for their client of their next step on being or becoming a landlord with a legit property management referral.
When realtors pass clients off to us, who are either inexperienced at rental property real estate or don't care about the future financial health of their clients asset they just sold them - things go south really really fast... Now the realtor looks bad along with the PM because the "investor" was sold something that will never cash flow or hit their goals before they bought the place.. Of course there's a degree of "buyer beware", but I think that's the realtors responsibility here.
2. Knowing the property management firms contract & an intimate understanding of how they work/operate/what their selling points are also goes a long way.
This sort of ties into the first points... I think a GOOD realtor who helps their clients buy rental property real estate should always help run the math with them. In my experience when I bought my first two rentals, my realtor didn't know the first thing about how to run the numbers on assessing whether or not a rental would be a good deal or not... After my 2nd deal with him, I explicitly asked him to sit down with me and write out on pencil and paper the math behind a deal. He could not do it.
Sadly I think the vast majority of realtors (likely not on bigger pockets) are like this.
If a realtor knows the contract terms, the math behind everything, how a PM truly operates and works, why they are legit... I think that goes a long way in having a healthy Top Referral Partner relationship. At that rate, you are not tossing hail marries to the property manager and you identify them as a true partner.
Don't be afraid to ask for their contracts and a slide deck on who they are/how they operate. I think that puts you as the realtor in a much better position for a successful referral handoff.
Thanks for listening to my ramble :-)
ROOST Real Estate Co.: A New Investor-Focused Property Management Company Entering Florida
A new property management company, ROOST Real Estate Co., is entering the Florida market with a clear focus on serving real estate investors. ROOST has built a strong reputation for the resources and systems it offers investor clients, and its performance is backed by verified data rather than just marketing claims. The company has verified its lease renewal rate across all leases that came up for renewal in the last 90 days — including new lease terms and month-to-month conversions. It has also verified its median speed of repair, tracking the time from when a work order is created to when the work is completed, and its median days on market for all leases signed in the last 90 days, measured from when a listing begins marketing to when the lease is signed. ROOST is also an active member of the National Association of Residential Property Managers (NARPM), reflecting its ongoing engagement with industry best practices.
Right now, ROOST is anchored on the Space Coast in Brevard County, but the company is actively planning its Florida expansion. Its next targets are Orlando, Seminole, and Volusia Counties, and if investor demand proves strong enough, ROOST intends to push further south into the area you inquired about. This makes ROOST a company worth watching closely as it grows its investor-focused footprint across Central Florida.
Spencer, lets connect. I run an ops platform that helps owners and operators execute investment strategies. Would love to offer ourselves as a resource