How to choose the best property manager in my area - Mesa AZ

Question

I have a furnished 3 bedroom house that I have listed on several of the platforms - Zillow, FB, FF, and Airbnb. I am not getting any real response other than STR which I can't do because of HOA restricts to 6 months or more. I am thinking maybe I need to find a property manager that can help get it rented. I just lowered the price. I was hoping to rent it as a MTR and just keep the utilities in my name and pay them as part of the rent, however, I am not getting any hits so I need to do something different. I listed it 10 days ago.

Thanks!

JT

Thanks!

JT

Abbey Humphreys · Answer

Echoing what Account Closed said, best way to find a PM is to network. Find local meetups and ask around.

Account Closed · Answer

SHARE YOUR PROPERTY LINK HERE SO WE CAN TAKE A LOOK AT IT TO GIVE AN APROPRIATE ANSWER.

Bretton F Trapnell · Answer

While it’s not expected to have a lease in place within 10 days, you can definitely expect to have an idea of where you are at in the marketplace within 10 days and if you don’t have any hits it’s best to start taking action instead of sitting on it. If you have any further questions or need any help listing for sale should you go that route, feel free to reach out.

Bretton F Trapnell · Answer

Hi JT, sorry to hear about your troubles. A lot of short term rentals meeting that description have recently moved to long term furnished rentals due to lack of bookings. You may just be competing in a saturated market. There are three options in my mind and you’ve mentioned two of them.1. Price - if you Lower the price you are likely to get more demand. If the price is not supported by the market it won’t move.2. Marketing - You’re on the main sites which is good, of course missing being on the MLS. If you can find a way to dress up the listing to look more appealing this will help with your best odds.3. Hiring a professional that specializes in rentals in your area. They will be able to help you determine if it’s the price, the marketing, or another factor that’s inhibiting your place from being rented. Of course they charge for their services and expertise so that should be factored in to your decision.I wish there was a magic solution but I think you’re on the right track, best of luck!

Kevin Lee · Answer

Has anyone had any experience with Mark Bower PM?

Andrew McGuire · Answer

Thoughts on putting it up in MLS with calendar and seasonal availability?

Michael Smythe · Answer

@JT Thomson

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 give you a referral, don’t make the mistake of assuming that PMC will meet your expectations, just because they met the expectations of the referral source.

We also can’t believe how many owners hire the first PMC they speak with!

Then they complain their expectations aren’t being met!

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 – and they often select the first PMC they call!

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!

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord. Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:

https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

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😊

Travis Bohling · Answer

Hi JT,

I agree with the other comments that this home may make more sense as a LTR. If you go this route, you may not need a property manager, especially if you are local and enjoy dealing with landlord/tenant issues. Message me with the address and I will let you know what I think it could rent for as a LTR.

Mason Weiss · Answer

Your tenant base for an MTR that requires a minimum 6 month stay is small. You are better off trying to find a long term tenant. If you need a PM recommendation I have one for you that I utilize for all investors I work with in Arizona. Shoot me a PM if interested.

How to choose the best property manager in my area - Mesa AZ

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