IS THE PROPERTY MANAGEMENT IN ROCHESTER NY REALLY THAT BAD??????

[Shawn Ackerman]

Today I have spoken to an attorney(investor) , Realtor (investor) and a few other non-investor realtors who all said the same thing.  THE PROPERTY IN ROCHESTER NY SUCKS!!!  I'm interested in hearing the experience of current investors from the area or strategies to deal with poor property management.

HELP!!!!!!!!!!!!!11

Shawn

Investor (New York City)

[Michael G.]

I previously owned 4 properties in the City of Rochester. All of them 2 units. Without fail every single property management company (one of them was mentioned byMatt Harris) I've hired has had issues with at least one or more of the following issues:

a) Creating repairs and invoices for fictitious repairs.

b) Charging us for repairs done to another property.

c) Not managing the tenants properly in terms of them paying the rent late. i.e. - US- What happened to Mays rent? THEM - Oh, we forgot to tell you that the tenant is having some issues and said they won’t be able to pay till June.

d) Not communicating the cost of repairs and charging us for them unexpectedly. i.e. - the stove broke we had to replace it.

I've learned that property managers need managing. Left unattended the tendency is for them to use your rent rolls as a license to print money.

I've gone through 3 different property management companies in Rochester and 3 different PM's in Allentown PAand it almost seems like there is a common theme amongst them which is that they know you are an out of town investor and the likelihood of you showing up to inspect your property is very, very low. The further away the better it seems.

I've taken some precautions lately like asking for a phone call prior to making any repair more than $100. Asking for before and after photos of repair work that needs to be done. Closely watching the expense column for charges (hidden, mistaken and otherwise)

You also have to be very careful about the contracts they use. Some will charge you a PM fee even if you have a vacancy. Where is the logic in that? They say it’s because they still have to manage the property. Whatever. There are other conditions in their contracts (like charging you a tenant placement fee even if you find a tenant on your own) that are not in your best interest so review the contracts carefully before you sign.

When using PM's I take some precautions  like asking for a phone call prior to making any repair more that $100. Asking for before and after photos of repair work that needs to be done. Closely watching the expense column for charges (hidden, mistaken and otherwise)