All Forum Posts by: John Williams

I agree that pricing a rental too high is a classic mistake than can make it sit, but don't you think encouraging landlords to rent quick will make them compromise on the vetting of the tenants?

I need some advice on managing my property manager. Particularly when it comes to maintenance requests.

Some context: I own two small multi families in Cleveland and they are managed by a PM company (B2B property management). This company charges 15% on top of any maintenance requests in addition to their normal fees but all I need to do is approve the estimates - they do all the work/communication with the contractors.

Recently my PM sent me a few maintenance requests: a $1400 to fix some plumbing in a bathroom (clogged and leaking - contractor says they need to cut the pipes, reroute and replace some plumbing, recaulk. Etc) and another estimate for $800 for lead paint testing. And basically I’m just realizing I don’t know how to know if these are reasonable prices or not? They seem high. On one hand I don’t want to fall victim to overpriced contracts squeezing a naive owner. On the other hand I don’t want to be cheap and losing money in the long run bc I’m not properly fixing things. Does anyone have any resources or advice on how to know better about this? I’m mainly looking to educate myself for the long term.

I also am planning to meet with my PM on Monday to discuss pain points and better expectations, I would love to hear what sort of expectations you set with property managers? What you ask and expect of them (beyond the basics) and what expectations can I further establish?

If I'm a first time rental investor, will I be able to hire a property manager to help me with research, etc. prior to getting my first property or will they only work with you if you already have a property?