Is a single fam house a low priority for a PM?

[Leo R.]

Hey folks!  I'm interested in breaking into a new out of state market (I've been looking at mid-sized, relatively low cost cities like Cleveland and Pittsburgh, and also some university towns like Morgantown, WV and Lawrence, KS).  

However, I keep running into the same issue: I assume that if all I buy is 1 single fam LTR house, it would be a very low priority for most PMs (I assume that most good, experienced PMs want either multi-fam, or a portfolio of multiple single fam houses....if you're a good PM with lots of business, just 1 single fam LTR seems barely worth the effort of taking on a new client).

How accurate is this assumption?

Obviously, it depends somewhat on the market, and it depends somewhat on the owner's ability to manage the PM (I self-manage all my local properties, and I'd probably be OK at managing an out of state PM)    ....in any case, I'm interested in hearing folks' thoughts (especially any PMs out there, and/or folks who have experience working with out of state PMs).

Thanks in advance!

[James Wise]

A good Property Manager will have systems and processes in place that allow for a repetitive routine when it comes to onboarding new clients. In the grand scheme of things does the owner of the management company get rich with your business or go broke without it? No of course not. But you should receive a systemized level of adequate customer service just like any other customer would.