Property Management: Eviction Protection Programs?

[Franco Urbaez]

Hey all,

I am looking to invest in a multi-family unit in the Lehigh Valley but because I have two other jobs (now 3 with this business) I don't want to manage the property myself.  Better yet, I just don't have the time.  I'm forced to go with a property manager. 

One property management company in the area really caught my attention and seems like a reputable company.  Real Property Management.  I was curious if anyone ever heard of the "Optional Eviction Protection Program", what it does and if it is worth it?

Based off of the title of the program, I imagine that if I were to pay this extra $15/mo. fee and they place a tenant for me who then violates the lease and I am forced to evict, they would cover the expense of the eviction and/or place another tenant at no additional cost to me.  

If there is insurance for evictions like that, I would most definitely take advantage of it.  Just can't seem to find a good answer on their website and it's Sunday so they're closed.

Anyone ever work with Real Property Management in the Lehigh Valley, PA?  If so, anyone know what this program entails?  Thanks in advance!

Dream BIG,

Franco

[Nathan Gesner]

I provide a similar program to my owners. They pay $5 a month per unit and i cover up to $1600 per eviction. Filing a 3-day Pay or Quit is $50. Filing in court is $90. A full eviction with attorney is about $1600.

I don't know how much they cover, but if they charge $5 a month and civer up to $800, just one eviction in 13 years would break even. Two in 13 years and you would be $800 ahead. It is a bargain and far better than "insurance" for a car or home.

By the way, the reason we are able to provide a program like this is because we have very few evictions, which speaks to the quality of our services. I manage over 200 units and my last eviction was 18 months ago.