Any good PM recos for Sm Multifamily around Columbus, OH?

Question

Hi Everyone :)

I'm looking to invest in the Col OH area with a focus on small multifamily properties. I'm currently researching and interviewing local vendors and potential team members. If you have any good local Property Managers that service small portfolio owners, then I'd love any names or advice you can offer.

Thank you!

:boon :)

Marc Rice · Answer

I have 3 good ones I'd recommend you to interview and you can see which ones are the best fit.

Christopher Boon · Answer

Thx Michael. I love your response and agree with you 100%. I always do my homework, interview a handful of vendors, and try to dive into the details from the start. I've already interviewed three PMCs, and I have a handful more interviews booked over the next two weeks, but would love any referrals or addl advice. Thanks again!  :boon  :)

Christopher Boon · Answer

Alfath, I would love any recos you can make. I'm already connected to Remington and I'm already talking to Kyle and Mareena, but would appreciate any others. Feel free to DM me or email me at Boon@BlueLightCapital.com.  Thx again!

Robert Ellis · Answer

I know it's been a few weeks but I'm just seeing this I'll shoot you a PM to discuss and setup a call about columbus if you are still looking

Michael Smythe · Answer

@Christopher Boon

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😊

Alfath Ahmed · Answer

Hi Christopher, I have a few good property manager recommendations. Let me know if I should send those your way.

Jimmy Lieu · Answer

Hi Christopher, I have worked with a lot of great property managers that charge reasonable rates and provide excellent service, and I would love to recommend them to you. As an investor and agent here in Columbus Ohio, let me know if you have any questions or want to connect!

Any good PM recos for Sm Multifamily around Columbus, OH?

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