Springfield Property Management

[Phillip Dakhnovets]

Great cash flows in Springfield (Ohio) market with a VERY strong rental demand. HOWEVER, no reliable property management available. Obvious business opportunity with lots of inventory for a reliable property manager. 

If you know of someone please let me know.

Thanks,

Phillip

[Corby Goade]

In a market that size, there is definitely reliable property management, but you might have to kiss a lot of frogs to find one. Is property management regulated in Ohio? That can make a difference in how you screen and interview. 

Something else to consider, if you'll endulge me...many new investors don't know what GOOD property management looks like. They have very high expectations for communication and value. You have to keep in mind that if you are renting a place for $1500, that property manager is grossing somethign around $120 per month. That's not enough to do monthly inspections, weekly calls with you and proactively check in every time they hear from the tenant. I'd encourage you to look at property management more like insurance rather than a service- when the stuff hits the fan, they step in and take care of business for you so that it doesn't create havoc or stress in your life. 

A good property manager will have an online portal that you can log in to at any time and see the financials and maintenance records for your property. You'll get monthly statements that reflect that and you should be notified (not asked) every time there is a maintenance issue below a certain predetermined threshold. You should not be involved at all in the tenant selection process. They should return your non-emergency calls and emails within one business day. They should have an easy to understand contract that isn't littered with misc fees beyond their percentage. 

Best of luck to you- please feel free to reach out if you could use help screening you PMs!