Frustrations with your current property manager / company ?

Question

Hi all,

I'm sure a lot of you have very busy lifestyles/jobs so you outsource your property management. My question to you all are two things:

First, What are your current frustrations with your current property manager? What are they lacking/missing that could possibly make your life easier? What do you wish they did better?

Secondly, What does you current property manager do WELL? Do they do something in particular that is different so you don't mind paying a little extra for their services? What makes great property management vs good property management?

Thanks!

Nathan Miller · Answer

The biggest headaches for me managing properties without a manager were dealing with small maintenance requests (clogged drain, disposal jammed, small leaks) and placing good tenants.  I was successful at both when I managed all my properties myself; however, they were so time consuming and so random.  It's always Thanksgiving day the oven breaks, or a weekend when a leak springs up.  Having a life and managing your own properties do not go hand in hand.

Property management fixed that.  Now I don't get calls on weekends or holidays and now I know the tenants being placed are well screened responsible tenants as I happen to know the screening company my manager uses and I trust their results well.

Tim Jacob · Answer

Hi Gabriel,

I think screening is most crucial for a pm company.  A good company is fast but thorough.  Some companies sub out the leasing to an agent who kills deals because they treat the application like a loan and they ask for marriage licenses and car registrations.  Others are too slow and the tenant has moved on by the end of  the screen.  A good agent will be fast but thorough going the extra mile to investigate landlord history.  They will make the application easy for the tenant but still be thorough.  Good tenants are the key to a well rin operation

After screening I would say prompt service and covering the owner insurance wise and from random charges like utilities.

I run a pm business this is mostly what Ive heard

Tim