Hey MKE Landlords, Who has the best Property Management?

Question

I'm looking for the best property management company in Milwaukee to handle 30+ rental property additions per year to their portfolio of properties to manage.

Must haves:

1) Impeccable communication with property owners. Best to have an online communication system. Must be able to respond to landlord questions within 24 hours.

2) Tenant and landlord portal.

3) In house maintenance team.

4) Easy to read and timely monthly owner statements.

5) Professional management company with 200+ properties under management and multiple agents/managers to help with landlord needs.

Milwaukee Landlords - who do you use and why do you like them? I'm only looking for rental property owner responses who have personal experience with a property management company, please.

Thanks in advance for any replies.

Account Closed · Answer

@Stuart Grazier - Is self-management totally out of the question?I have an associate with diverse rentals who is pretty tech-savvy and she uses NestEgg, which is basically a software platform that helps identify and coordinate maintenance needs. It's worth a try because it can help you remember to perform maintenance work that might otherwise be overlooked, which is important both because performing regular maintenance is typically a big money saver and if you're subject to local regulations. For anyone investing in Chicago, for example, will have to comply with the property maintenance rights afforded by the Chicago Residential Landlord Tenant Ordinance ("RLTO"). The rule includes a laundry list of specific examples of when a tenant's right to have his or her property maintained has been violated, and the law is clear that this list is not exhaustive. In generally, landlords may not allow their property to fall into disrepair or so-called "slumlike" condition. Tenants even have limited rights to deduct repair costs from their rent if their landlords do not perform timely maintenance.

Before selecting a property management company, I recommend you look into the local rules regarding maintenance. They can be more than you'd expect, and it's not unheard of for companies to cut corners on maintenance to save money. Being pennywise and poundfoolish in this way, is not a good long-term money saving strategy, and being informed is your best bet to avoid potential pitfalls.

Pete Woelfel · Answer

Talk to @Matt Maurice

Meghan McCallum · Answer

@Stuart Grazier Like Account Closed said NestEgg is a great AI based tech solution to eliminating the cost of a PM. They are now full service in both Milwaukee and Chicago. They give you the backend software to manage it yourself plus you benefit from them taking all tenant calls so you don't have to. They also have service providers, repair men and leasing agents. They have a promo going on now where they will pay for your first hour of repair or service provided through their app. They have prenegotiated rates with background checked and approved contractors and the repairs come along with a 14 day happiness guarantee. I use them on my house as well as my property.  Anyone can use their service, they just dont have agents everywhere.

Erik Reichertz · Answer

I"m using Performance Asset Management right now.  I've been reasonably happy with them.  Seems like a good technology portal, relatively diligent.  I bought a new property and they were super helpful with coming up with good ideas to improve marketability, flooring, painting, new fixtures, etc that were cost efficient and came out nicely.

Mark Ainley · Answer

@Stuart Grazier I would talk to Performance Asset Management.  They are in a PM Mastermind we have and they are always trying to be better and seem pretty good to start.

Gregory Chadwell · Answer

If you would like to talk to a real person who I would recommend Ginger Manning from Elite Properties.

They do a great job and have all the right type of employees to fix and handle all scenarios. I can pm you her direct line.  BP wont let email and phone numbers to be posted

Thanks Greg

Stuart Grazier · Answer

@Pete Woelfel @Brock Mogensen @Marcus Auerbach Thank you for the recommendations! I'll plan on giving them a call.

Marcus Auerbach · Answer

@Stuart Grazier I self manage our portfolio (with the help of an assistant) and my wife sometimes concerned what to do with all the properties when "I get hit by the bus" - my usual response is "you call Matt."

Matt and his partener run Welcome Home Milwaukee: they have a flat fee business model, which incentivices medium and up rentals. Check out their website - they have a side by side comparisson of PM companies.

A lot of my investor clients work with them and also give me good feedback (including Pete's feedback above :-)

Brock Mogensen · Answer

Smart Asset Management.  They manage all of our units (107), and manager over 1,200 units in total.  I can put you in touch with them if you are interested.

Hey MKE Landlords, Who has the best Property Management?

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