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Updated over 6 years ago on . Most recent reply
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Not feeling like my property manager is trying very hard.
So my property manager listed my San Antonio SFT rental on Monday. The pictures she posted were so-so. The Zillow add doesn’t even show the kitchen which we just put granite counters in. They haven’t listed the place on their own website yet. I’m begging to get concerned. I don’t really feel like they are making renting my property out a priority. They are slow to respond to my emails; a day to a day in a half. I’ve asked twice for them to upload photos to a drive for me to look at the property as I’m an OOS investor and can’t go there and take them myself.
Anyways, Am I expecting too much in the 5 days or are my concerns legitimate and do I need to have a come to Jesus talk with my property manager?
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- Real Estate Broker
- Cody, WY
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I'm a property manager and I bend over backwards to get a new listing on the market quickly. I want to put my best foot forward and prove that I'm worth the effort.
I doubt your PM is violating the contract but you've hired a dud. You can't force a St. Bernard to perform like a Cheetah. I recommend you start looking for a new property manager that sets higher expectations and then meets them.
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!
- Nathan Gesner
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