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Updated 2 months ago, 09/18/2024
Pillario Property Management
Does anyone have any experience with Pillario Property Management?
They seem to be a relatively new company and I'm being prodded towards them by my TK provider. They are claiming the house I'm looking to buy should rent for over $200 what I'm finding on rentometer, craigslist, zillow, etc, and even a rental appraisal from my house's appraisal report. Their explanation is that the numbers I'm seeing come from sources that only use data that is reported to them by realtors who choose to list rentals there for example and that most management companies like them will not publish their actual rents so their numbers are based on their own comps which are more accurate. When pressed further he gave me some vague comps, however "my" house in question is a 2bd/1ba and when I asked, most of his "comps" were 3bd/1.5ba and one was 4bd/2ba!
It just doesn't sound right to me and I think because they're so new, I'm not finding much in terms of reviews/recommendations of their company.
I don’t have any experience with them personally but can vouch for Sterling from Ethosity Property Management.
He is the VP of the local REI Association and an all around great guy. I believe they do free assessments if you wanted to get a second opinion.
Hope this helps.
My husband and I have two properties with Pillario and they have done a great job for us. Conner and his team have made the process of pricing and renting out the units easy and we plan to keep working with them in the future. Hope this helps.
Originally posted by @Brandon Morris:
I don’t have any experience with them personally but can vouch for Sterling from Ethosity Property Management.
He is the VP of the local REI Association and an all around great guy. I believe they do free assessments if you wanted to get a second opinion.
Hope this helps.
Thank you for the suggestion! I had already contacted another property management for a second opinion otherwise I would have reached out to him.
Update: I decided not to go on with this deal. Pillario was telling me the 2bd/1ba house in the 46218 zip would rent at $1095/month. The other property management group I reached out to said it should rent for $750-850/month which is in line with what I was seeing in my research.
In my case, the company I was buying the house from is a "sister company" to Pillario as they told me themselves. I found out this meant that the owner of the company is a managing partner of Pillario. In my opinion, this explains the motivation for Pillario to give me an unrealistically high number.
@Erin W.
What was the name of the other property management company with the lower rental estimate? I am reaching out to some in Indy as well.
Sorry to hear things didn’t work out on this one and hope you find a good deal next time Erin!
Originally posted by @Ivan May:
@Erin W.
What was the name of the other property management company with the lower rental estimate? I am reaching out to some in Indy as well.
@Ivan May It was PMI Midwest. I was able to enter the address and some info on their website and get a nearly instant report emailed to me but they followed up and I sent them pics and the scope of work and gave me a more personalized quote.
Thanks @Josh C. and @Brandon Morris!
@Erin W.
Thank you!
I have a property managed by Pillario and they are one of my best PM's. Conner and his team have excellent communication, rented my property quickly and handle any issues thoroughly, satisfying both myself and my tenants.
Please, please get your homes out of there and run. I would love for you to contact me.So I can let you know what you're in for
