Looking for property management
Investor · Member since 2022 · 22 posts · 19 votes
Looking for property management
3 Replies
- 3hDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
We’re a Property Management Company (PMC) in Metro Detroit ONLY, 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
Logical Property Management4.9459 Reviews - 2hVidit S.Business MemberInvestor · NY · Member since 2018 · 97 posts · 17 votes
Hey Sandra, regular communication should really be the baseline expectation, even with one rental, let alone a larger portfolio. I can definitely see why that would be frustrating.
We’ve built our operation around being very proactive with communication. Owners get clear updates and reports without having to chase us, and each client has a dedicated team so questions get answered quickly.
Happy to learn more about the property and see if we might be a fit.
Are you managing it yourself right now or looking to switch from another PM? And what part of Akron is the property in?
If you’re switching, I’d also be curious where the communication has been falling short.
- Member since 2026 · 3 posts · 0 votes30m
Hi Sandra, I went down this exact road. I own a duplex in Rochester and live 330 miles away, so I hired a PM. They were awful. Communication was poor, I'd find out about problems weeks late, and it was clear they weren't representing my interests. My classified in this forum has the details. I ended up firing them and setting it up so tenants text one number, the request gets logged, the right contractor gets the job, and I can see all of it on my phone. Different approach than what you're asking for, but it worked for me, and with one rental and a reliable plumber and handyman in Akron, you may not need to pay 10% plus fees for someone who is worse at communicating than you are. Full disclosure, I'm the founder of RentPorter, which is built around that.
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