Property Management recommendations in San Francisco
Petaluma, CA · Member since 2017 · 106 posts · 86 votes
Property Management recommendations in San Francisco
Most Popular Reply
I’ll second @Houston Garcia on this. You can use a realtor to market the rental and bring you good prospects. I’d focus on well paid professionals, which will probably be the only group of people that will be able to afford the rent. Avoid odd ball tenant profiles, too many tenants together, etc. Hard working, successful rofessional tenants are easy to manage. Just make sure the unit is well maintained with the basics. Also, get a handyman referral or two, and meet them personally. Just have them do any small repairs needed. Get an attorney reference too, and decide what type of lease you’ll use. Any friction and just work with the attorney. But good professional tenants are usually easy to manage, as long as you’re fair to them, and have a handyman to quickly fix any issues.
My2c
4 Replies
- Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes8y
You can start by going to www.narpm.org and 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.
1. Ask how many units they manage and how much experience they have. If it's a larger organization, feel free to inquire about their different staff qualifications.
2. Review their management agreement. Make sure it explicitly explains the process for termination if you are unhappy with their services, but 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 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees. Fees should be clearly stated, easy to understand, and justifiable. 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!
4. Review their lease agreement and addendums. Think of 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 or problem tenants. 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 it is 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. The fact they are complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.
I hope this basic guide helps. If you have specific questions about property management, I'll be happy to help!
The DIY Landlord Book4.7247 Reviews - Petaluma, CA · Member since 2017 · 106 posts · 86 votes8y
Originally posted by @Nathan Gesner:
You can start by going to www.narpm.org and 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.
1. Ask how many units they manage and how much experience they have. If it's a larger organization, feel free to inquire about their different staff qualifications.
2. Review their management agreement. Make sure it explicitly explains the process for termination if you are unhappy with their services, but 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 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees. Fees should be clearly stated, easy to understand, and justifiable. 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!
4. Review their lease agreement and addendums. Think of 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 or problem tenants. 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 it is 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. The fact they are complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.
I hope this basic guide helps. If you have specific questions about property management, I'll be happy to help!
Thank you so much! I will pass this along, this is very thorough and I appreciate the info!
- Real Estate Broker · San Francisco Bay Area, CA · Member since 2015 · 116 posts · 76 votes8y
@Jason Howell A few of my friends & clients have multifamily rental properties here in San Francisco - and they tend to manage those properties themselves. The reason being that the majority (but not all) of property managers in San Francisco are pretty ineffective/perform poor quality work. I know some fellow local BP members may not agree with me, but I'm just being honest/blunt.
If I owned a single family home in North Beach, I would manage it myself and forgo a property manager. Before leasing the home out, I would consult a landlord/tenant attorney (I have a great referral if you need one) and a realtor to market your property. Otherwise, 90% of managing property in SF is finding a good tenant who will be communicative with you about any issues/concerns.
I’ll second @Houston Garcia on this. You can use a realtor to market the rental and bring you good prospects. I’d focus on well paid professionals, which will probably be the only group of people that will be able to afford the rent. Avoid odd ball tenant profiles, too many tenants together, etc. Hard working, successful rofessional tenants are easy to manage. Just make sure the unit is well maintained with the basics. Also, get a handyman referral or two, and meet them personally. Just have them do any small repairs needed. Get an attorney reference too, and decide what type of lease you’ll use. Any friction and just work with the attorney. But good professional tenants are usually easy to manage, as long as you’re fair to them, and have a handyman to quickly fix any issues.
My2c
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