Seeking Proactive Sec 8 Prop Manager in Memphis

[Pouyan G.]

I've recently ventured into the Memphis market, purchasing two SFR properties in the 38127 and 38114 zip codes, with a strategy to rent to Section 8 tenants for their benefits of lower turnover and competitive rents. Despite being remote, I successfully managed full rehab on one property and made significant improvements to the second.

However, I've encountered a challenge with my current property management – while they are genuinely nice people, there seems to be a gap in responsiveness and engagement, particularly in leasing these properties to potential Section 8 tenants I've personally sourced.

Three months into this partnership, and with several interested tenants at hand, I'm considering a change to ensure these homes are leased efficiently. I’m looking for a property manager with a strong track record with Section 8 rentals, who is communicative, reliable, and proactive.

Does anyone have recommendations for property managers in Memphis familiar with Section 8, who could help bridge this gap?

[Michael Smythe]

@Pouyan G. are you sure the PMC doesn't know more about S8 and is trying to help you avoid a mistake?

You mentioned S8 benefits of more stable tenants and competitive rents. Where did you get this info from? While it is basically true, it is NOT as big a difference as you apparently think.

What about S8 negatives? What do you know about those?

[Pouyan G.]

Quote from @Michael Smythe:

@Pouyan G. are you sure the PMC doesn't know more about S8 and is trying to help you avoid a mistake?

You mentioned S8 benefits of more stable tenants and competitive rents. Where did you get this info from? While it is basically true, it is NOT as big a difference as you apparently think.

What about S8 negatives? What do you know about those?

 I appreciate your points, and I understand there are pros and cons to every strategy, including Section 8. My experience with Section 8 tenants over the years, albeit in a different state, has generally been positive, which informed my decision to apply a similar strategy in Memphis.

To clarify, my Property Management Company (PMC) never expressed concerns regarding the Section 8 approach. In fact, the initial agreement included their commitment to rehab the first property—a commitment they unfortunately did not fulfill, leading me to deploy my own crew for the job.

This situation, alongside their unclear explanations for not moving forward with the Section 8 applicants I sourced, and a few operational mishaps (such as a winterization oversight), have prompted me to reconsider this PMC partnership. I had hoped for a proactive and communicative relationship, especially since this venture into Memphis began as a test before potentially expanding my investment portfolio here.

While I value guidance and have remained flexible, especially given this PMC's extensive experience managing several hundred units, the lack of progress and clear communication after three months—combined with operational issues have left me I'm a bind and seeking alternative PMCs.

I'm open to learning and adapting, which includes considering other PMC recommendations.

[Jordan Ray]

Quote from @Pouyan G.:

I've recently ventured into the Memphis market, purchasing two SFR properties in the 38127 and 38114 zip codes, with a strategy to rent to Section 8 tenants for their benefits of lower turnover and competitive rents. Despite being remote, I successfully managed full rehab on one property and made significant improvements to the second.

However, I've encountered a challenge with my current property management – while they are genuinely nice people, there seems to be a gap in responsiveness and engagement, particularly in leasing these properties to potential Section 8 tenants I've personally sourced.

Three months into this partnership, and with several interested tenants at hand, I'm considering a change to ensure these homes are leased efficiently. I’m looking for a property manager with a strong track record with Section 8 rentals, who is communicative, reliable, and proactive.

Does anyone have recommendations for property managers in Memphis familiar with Section 8, who could help bridge this gap?

You should give Patrick Burleson a shot over at RiverTown Realty! They are great folks! Let me know if you need their direct contact info and I can connect you to them!

[Michael Smythe]

@Pouyan G. Those issues should rarely happen.

Probably is best to find a new PMC.

Check out NARPM.com site

[Brad Puckett]

Hi @Pouyan G. You should check out the resources on FoundationPM.com and get with @James Wachob's team! Lots of experience with section 8. I am happy to connect myself and answer any questions you have about section 8 options. Just sent you a DM. 

[Nehemiah Burney-Porter]

 Hey @Pouyan G.

Im in the same boat as you currently. Did you end up finding a PMG that you like? Im in the middle of conducting my research