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Updated over 2 years ago on . Most recent reply

User Stats

33
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Joshua Stein
  • Rental Property Investor
38
Votes |
33
Posts

What makes a good property manager (PM)? What makes a bad one?

Joshua Stein
  • Rental Property Investor
Posted

I'm one year into having a property manager take over one of our properties, it's mainly great because that income is now (almost) truly passive - probably requires less than 1 hr of time each month.

However, my PM seems to have had a bit of trouble scaling. I'll ask for them to do something (HVAC tune-up, turn off exterior water before winter, etc) and, while they'll initially acknowledge the email, I usually have to follow up multiple times to confirm the task is completed.


Is this a pattern with most PMs? What are your general expectations of a PM and when/how do you generally know it's time to look for a new one?


I'm trying to gauge if I'm being too type A and need to let go a bit, or if I'm underestimating what a PM should do.

  • Joshua Stein
  • Most Popular Reply

    User Stats

    3,673
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    3,452
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    Steven Foster Wilson
    • Rental Property Investor
    • Columbus, OH
    3,452
    Votes |
    3,673
    Posts
    Steven Foster Wilson
    • Rental Property Investor
    • Columbus, OH
    Replied
    Quote from @Joshua Stein:

    I'm one year into having a property manager take over one of our properties, it's mainly great because that income is now (almost) truly passive - probably requires less than 1 hr of time each month.

    However, my PM seems to have had a bit of trouble scaling. I'll ask for them to do something (HVAC tune-up, turn off exterior water before winter, etc) and, while they'll initially acknowledge the email, I usually have to follow up multiple times to confirm the task is completed.


    Is this a pattern with most PMs? What are your general expectations of a PM and when/how do you generally know it's time to look for a new one?


    I'm trying to gauge if I'm being too type A and need to let go a bit, or if I'm underestimating what a PM should do.


     If they are responding and actually doing it then I would say that is pretty good. They always say the squeaky wheel always gets the most help. 

    I started looking for more help when my PM did not inform me that my tenant was not paying rent for 3+ months. I asked if they had posted an eviction notice and they responded no the tenant is going through a hard time. Everyone goes through tough times... I switched PM's and now I know that if that happens again they are right on it. They get things done and I do not have to worry about it. I get my passive income every month and I am a happy camper. 

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