Picking MF property management: What questions do you ask?

[Frances Buerkens]

I am evaluating the multifamily market in Lexington, KY for value-add potential. I would like to set up in-person meetings on August 9 and August 12 with folks who are interested in working with large-scale investors. I am flying from out of state with the intention of moving to KY this winter.

My first call was to MLP Management Co and all I received was a nasty earful when I asked the name of the person that picked up the phone. (The man did not introduce himself except to say that he was "the guy" I needed to talk to.) I have no problem ditching that prospect in search of a courteous and professional agency, but it has me second guessing my approach since that went super well.... 

I have experience interviewing SF property managers, but MF is different.

How would you begin the conversation? 

What metrics would you suggest I use to 'grade' each property management company?

What did you overlook when you hired a property manager?

[Joe Marcum]

You should really consider speaking with Kentucky Life Property Management. We switched over our small multifamily portfolio (27 doors in 2,3 & 4plexes) over to them in May and have been very happy with them. Communication has been excellent. Josh Shepler & Heath Green have been great to work with, as has our assigned property manager, Truston Humphries. I can't post their phone number, but they have a webpage and a Facebook page, just Google search "Kentucky Life Property Management" and you find their contact information.