Property Management for Large Portfolio

[Steven Segal]

We have a large portfolio of 350 total units in Florida, in the Fort Myers and Cape Coral area. How would you best situate the property management for this? Would you use one bigger company, a couple bigger companies, start with a 10+ companies and weed out?

Thanks for the input.

[Steve Rozenberg]

I would look up NARPM for PM's in your area... I would interview and check references on anyone you think of using and most certainly take your time and think through your possible scenarios.

Here are some good questions I tell people to ask to see if the PM they are talking to are professionals or people that do it out of something to offset their other business or job..

Questions to Ask prospective management companies

• What are your average days on market for vacant homes?
• What is your average rent amount for all properties managed?
• What is your average work order cost for the owner?
• What is your average make ready cost for the owner?
• Are all my invoices uploaded to my owner portal?
• How do you advertise your vacant units?
• Do I receive video of my pre and post make ready?
• Do you have a setup fee?
• Do you upcharge on maintenance?
• When do you make owner payments? How often?
• Are you a Certified Property Manager?
• Are you a member of NARPM?
• What is your Guarantee?