dealing with property management

[Kristin Vegas]

I own 2 homes and one of them now is vacant, and march will be 3 months of vacancy. the tenant moved out december 31 after one year of lease. the handyman man who works for the management finished the respair almost the end of January, nothing major just paint the wall and some carpert cleaning. After that, he listed on the market and so far i received 2 applications but it was denied because they didn't fit the criteria. The management guy which is the owner of his company as well said that there were more applicants but he didn't even bother to send it to me because those applicants had bad criminal records. last week he said there was more applications and he was going to check it but i haven't had any responses from it. today i called him to ask qbout those applications and he sounded a bit upset and said that he was gonna check it today, same thing he told me last week, i also asked his helper and she said that he was the one encharged of my rental. everytime i call him he sound busy. he seems to be all over the place and sometimes i think that he is just not taking the time with my property. also last week i mentioned him that if he could pls change the description of my property online and to add that i accept section 8 tenants and he said ok but still hasn't done it. i could tell that there was no communication between him and his helper who also works with him because one time she called me mentioning that ahe was gonna show the property to someone but my managemt already showed this property to this person. when i did let her know that he said that she didn't know i could tell there was no comunication between them. any tips from you guys , i'm very confused and don't know waht to do in this case 

[Nathan Gesner]

Quote from @Kristin Vegas:

He sounds like an amateur that's probably in over his head. I would shop around for a professional property manager.

Remember: cheaper doesn't mean you'll make more money.

Start by going to www.narpm.org to search their directory of managers. These are professionals with additional training and a stricter code of ethics. It's no guarantee but it's a good place to start. You can also search Google and read reviews. Try interviewing at least three managers.

1. Ask how many units they manage and how much experience they have. Feel free to inquire about their staff qualifications if it's a larger organization.

2. Review their management agreement. Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.

3. Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers. It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees. Fees should be clearly stated in writing, easy to understand, and justifiable. Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more. If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee. Don't be afraid to negotiate, particularly if you have a lot of rentals.

4. Review their lease agreement and addenda. Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.

5. Don't just read the lease! Ask the manager to explain their process for dealing with maintenance, late rent, evictions, turnover, etc. If they are professional, they can explain this quickly and easily. If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.

6. Ask to speak with some of their current owners and current/former tenants. You can also check their reviews online at Google, Facebook, or Yelp. Just remember: most negative reviews are written by problematic tenants. A tenant complaining online might indicate that the property manager handled them appropriately, so be sure to ask the manager for their side of the story.

7. Look at their marketing strategy. Are they doing everything possible to expose properties to the broadest possible market? Are their listings detailed with good-quality photos? Can they prove how long it takes to rent a vacant property?

This isn't inclusive but should give you a good start. If you have specific questions about property management, I'll be happy to help!