Any Good Property Managers in Baltimore, MD???

[Lisa Phillips]

Hello, I've been a part of this site for years, and I need some REI assistance. I am a little sick and tired of Baltimore, and I want to find a good property manager for my rental property there. My last PM made as much money as I did, and still couldnt keep a tenant in. If I can't find a good PM, I am going to sell the property, do a 1031 exchange, and purchase a new property in Richmond, VA. So, can anyone give me the name a GOOD property manager? Mind you, Im not stingy, but when you have so many fees - when you're doing your job and when you're not) that you make 2/3 of what I collect in a year, thats a problem. Mostly in baltimore, everyone wants a ton of money, even if they dont fill a vacancy, aren't responsive, etc. I tried to go to Angies' List, but the top rated Property Manager I just dumped, and the others immediately have negative reviews. Its forcing me to lower my standards. I tried to go through my RE agent, met a "Property Manager" then he had some other guy called me who was more expensive than my last baltimore PM. This new guy had a clause that if my house was vacant for 4 months, i have to pay HIM $750. I mean, getting paid even if they dont do their job.

Any leads before i just say I can't find a good, solid team up here and I sell????

You're help is greatly appreciated at this point.

Lisa

[Scott McClelland]

I own rental properties (and know others who do as well) in Baltimore City and Baltimore County and the only thing we consistently complain about is the property taxes in the city versus the county. That being said prices are cheaper in the city and you get better rent per purchase ratios.

As for Baltimore City being responsive I guess they could be better but I have never had a huge problem getting anything done. The hardest part was contacting the correct department to address my problem.

Another interesting thing is that you need a rental license in Baltimore County before you can legally rent the property. This will put you back a couple hundred bucks and it needs to be renewed every 3 years. Just a money maker for the county. In Baltimore City no inspection is necessary other than lead paint if the property is older. Also a $30 a year registration is needed.

Lisa, it sounds like you have quite a bit of experience with crappy property managers. Mine is OK. I have to manage the PM company many times and check in with them but they do not charge the outrageous fees you describe. They charge 1 month's rent for finding a tenant and 8% of each rent check or $100 whichever is more. If I don't get a rent check or the property stays vacant, they don't get paid either. Also they found a tenant for me and had to evict them 4 months later. They apologized and found a tenant without charging me. I thought that was decent of them to do. If you want they contact information send me a private message.

Scott