Property Management Recommendations - San Diego, CA
Hello, I'm looking for reliable property management in San Diego and North County for 2-3 residential units. I've had mixed results with PM in the past and I'm hoping that I can find a better fit with someone that is familiar and comfortable leveraging both short and medium-term rental strategies. Please reach out to me if you personal know of or have used PM groups in the SD area. I'm happy to hear about groups to explore and groups to avoid.
Thank you so much, and I look forward to hearing from you!
All the best,
Zack
#3 Managing Your Property Contributor
- Property Manager
- Metro Detroit
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#3 Managing Your Property Contributor
- Property Manager
- Metro Detroit
@Zachary N. what have you learned from working with PMCs in the past and how will you apply that knowledge this time around?
Read on for our standard copy & paste advice:)
Encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
To avoid going through the same poor experience, keep reading.
Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.
In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.
It's often a case of not doing enough research, as they don't know what they don't know!
Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!
So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.
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😊
How do you get a good renter? Know what a good one looks like, and screen applicants until you find one that fits.
How do you get a good property manager? Know what a good one looks like, and screen them until you find one that fits.
//pro
@Zachary N., I have a PM referral for you for STR/MTR and have another one for LTR. Reach out to me directly as we are intentional who we refer. Best