Property Teams in Wichita?

Question

Does anyone have a reputable property management team in the Wichita area?

I have reached out two a couple in the area and they have not responded.

Am I looking for a "unicorn" in Wichita?

Thank you in advance

Steve

Michael Smythe · Answer

@Steven Warner

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😊

Melanie Thomas · Answer

I'm sorry to hear that you're facing difficulties finding a responsive property management team in Wichita. It's possible that finding the right fit might take some time and effort. Consider expanding your search and checking online reviews or local real estate forums for recommendations from other property owners in the area. Patience and persistence will increase your chances of finding a reputable property management team that meets your needs. Good luck & happy investing!

Corbin Donavan · Answer

If you still haven't been able to settle on a property manager here in Wichita, I also have a recommendation or two for you. Feel free to shoot me a message!

Will Fraser · Answer

Yo Steven, have you had any interactions with KeyRenter?

Jantzen Chase · Answer

Here’s a couple to look into. If you’d like contacts, send me a message.

316 RentalsReliance Property Management

Steven Warner · Answer

Thanks Will - I certainly would appreciate it.

Daniel Gutierrez · Answer

Hey Steve, I am going to send you message. I am Realtor and investor here in Wichita and have a couple good recommendations for you.

Will Fraser · Answer

Hey @Steven Warner, if your expectations are to get a response (in ANY timeframe at all) and you've called (and left a voicemail), texted, or emailed their sales lines then you're not looking for a unicorn at all!  It sounds more like you're looking for a PM company who is showing up for work and doing their jobs, which I'm certain there are a few of in Wichita.

Let me ask my guild and see if I can come up with any excellence-minded PM companies in Wichita to connect you with.