All Forum Posts by: Manco Snead

I fired a PM and contract required a 30 day notice, so I paid them the 1 month management fee in lieu of waiting the 30 days because I wanted them out of my life asap. Having to pay for the remainder of the year doesn't sound right. If that's what the contract says try to have a civil conversation with them to change that. 

I've used 3 PM companies; all horrible.

I've become tired of being PC about this; property management companies inherently suck. I've had three and they've all been bad. Manage yourself.

If this is your first rental I would strongly recommend not doing it out of state; there is so much you learn with the first property and being away from it will prevent you from learning and you won't know what you don't know. If you go ahead with it property management is everything. If you have a good PM things go well, if you have a bad one things go poorly. I'm considering selling because I can't find good PM for my OOS property.

Also know many on BP are trying to sell you something; i.e. a realtor from Memphis writes that Memphis is a great place to invest and they'd be "happy to help you."

RE investor and traveler health care worker here. Yes, FF. Don't cheap out on all the furnishings, and make it quiet, decent furniture/appliances, no mini fridges, $10 toaster ovens, etc. Many (not all) that use that site are traveling health care workers; many own a house, have organized lives, make good $, etc. In other words they're great tenants but they're not going to have any tolerance for a crappy rental where the owner cut corners, rental is dirty, nothing works, fuses always blow, $15 craigslist mushy mattress, barking dogs next door, etc, They'll just bail then leave you a horrible review, as I did for a FF rental.

The state you're in, and close to your house. Don't buy out of state; too many landmines if you're inexperienced. ...and even if you're experienced.

If the PM is not giving you the detailed and actionable responses you deserve ditch them. I've thus far dealt with 3 PM companies and have not been happy with any of them. Manage yourself if property is local.

Mark, belated yet honest question. Do you really use KMB? I hired/fired them and found them to be completely incompetent.

6 years later response here. I hired KMB to manage a property of mine; complete disaster. Under no circumstances should you let them be involved with your properties in any way.

RE investor and traveler health care worker here. Don't cheap out on all the furnishings and make it quiet, decent furniture/appliances, no mini fridges, etc. Many (not all) that use that site are traveling health care workers; many already own a house, have organized lives, makes good $, etc. In other words they're great tenants but they're not going to have any patience for a crappy rental where the owner cut corners, is dirty, nothing works, barking dogs next door. They'll just bail then leave you a horrible review, as I did for a FF rental.

If one is wondering if they should fire their property manager then they probably should.