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Property Management in Akron
I recently purchased a property through RTR and while I am happy with them, I am having a lot of issues with KS Yoak PM Company. Not only are they horrible at communication, a stove was stolen from the property when the tenants who weren't paying rent moved out. I was the one to catch it not them during the walk through. Does anyone have any recommendations for a different and better PM company in the area?
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Quote from @Amanda Gauthier:
I recently purchased a property through RTR and while I am happy with them, I am having a lot of issues with KS Yoak PM Company. Not only are they horrible at communication, a stove was stolen from the property when the tenants who weren't paying rent moved out. I was the one to catch it not them during the walk through. Does anyone have any recommendations for a different and better PM company in the area?
I've never heard of KS York so I've got no dog in that fight. They may be great, or they may suck as badly as you say. However, I would like to point out that it's not your property manager's fault the tenant stole the stove on the way out. If you're going to make it in this business you're going to have to wrap your head around the fact that things like that are going to happen and you've got nobody to blame other than the criminals themselves.
Thanks for the reply. I totally agree with you that these things can be expected and are going to happen. It's the nature of investing in real estate. I think I am more frustrated with the lack of communication from their end. On a different note, do you have any property management companies in the area that you have worked with and/or recommend?
@Amanda Gauthier please check your inbox.
Quote from @Amanda Gauthier:
I recently purchased a property through RTR and while I am happy with them, I am having a lot of issues with KS Yoak PM Company. Not only are they horrible at communication, a stove was stolen from the property when the tenants who weren't paying rent moved out. I was the one to catch it not them during the walk through. Does anyone have any recommendations for a different and better PM company in the area?
I've personally known Steve Yoak for a number of years and both he & Kip have reputations as stand-up guys. That said, they've gone through some huge growth over the last couple years and maybe they're having some growing pains? Try to work through it with your PM or maybe request a different one? Pickings are slim around here for good ones, and what makes a good PM for one LL isn't the same criteria as for another. Just make sure the grass doesn't just look greener before jumping.
If you need any local boots on the ground, let me know and I can assist, I'm in Akron daily.
Quote from @JD White:
I'm in Canton all the time, let me know if you need any boots on the ground assistance.
Hi Amanda, they are terrible. I’ve been working with them for 2.5 years. Kipp Yoak, the owner, doesn’t care about the owners. They have so many properties that rent to retirement gives them, that they could care less.
They are unable to give you a balance or ledger report when there are repairs on properties. They ask you to use buildium to look at everything, but buildium doesn’t give you an easy to follow way to see subtractions from repairs or marketing fees that they charge. Ks Yoak picked 2 terrible tenants on one of my properties that ended up costing me over 15k in repairs over the past 2 years: they didn’t care: they said they would help me with the repairs, but they won’t send you a break down of the repairs: they send you a paragraph with a total cost for repairs at the bottom. Beau is unprofessional and rude, Kaye gives people the brush off and Kipp doesn’t respond to owners. I’m selling both of my properties because I literally cannot handle the stress from how horrible KS Yoak is.
Just to clarify my previous post, I would like to say that while I've experienced challenges with mngt, RTR/Rent to Retirement has been extremely helpful in navigating this situation so I know what my options are and so I don't feel alone in this process. They have stepped in to cover repairs for me, pressured mngt to do the same, introduced me to other PM teams that would perform better, shared multiple resources with me to assist with the sale of the properties and have spent ample time helping me strategize overall about what to do with these properties. I just wanted to clarify that my frustrations are with the PM mngt team, not with RTR. I plan to continue to work with them as they have been very instrumental in helping me map out my investment goals and strategy.
8/14 update: Steven Yoak is not a part of this initial post: he has been instrumental and amazing since I’ve started working with him. He does excellent rehabs and stays in constant communication and explains everything in full. He has compassion and heart and ensures that his clients are well taken care of and that the rehabs are pristine. He is honest and never led me astray in both rentals I’ve bought from him. He goes above and beyond in his communication and time that he gives his clients. If he did all the rehabs in Ohio and his own property management, I would buy all my rentals from him.
8:14/24 I did get a call today from KS Yoaks property management team, Kaye and Amber after my post on Bigger pockets.
They went over my rental ledger with me and went through buildium with me, which I appreciated as they tried to rectify my issues.
Beau also sent me the detailed invoice that I have been asking for for several months.
In the past, Kipp has been very helpful and responsive and has given me help on repair costs from the past 2 tenants I have had that have been no good. I am not able to edit or delete posts on BP , so I will edit this to the fact that I do think that Kipp has helped Me in the past several times. Maybe I have had too many issues with this property and I have become an irritation? I think that he has tried his best to help as much as he could. Regardless, I’m moving forward with a new PM team.
I have a friend that is pleased with his PM in the area. They handle his 150ish doors, and he has high standards. I will PM anyone on this thread that was looking.
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@Amanda Gauthier we work with a lot of real estate investors who provide us with intel on who the great property managers are - would be happy to share this unbiased feedback to help you avoid this situation.
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Quote from @James Wise:
Quote from @JD White:
I did some reached and now work with Pikus Real Estate and Property Management. They have helped me find another investment property in the area and do the PM themselves. They are very professional, reliable and informative. I highly recommend them.
I am just starting with KSY and it's not going amazingly. I'm too old to remember to check for reviews before I leap, but at least I haven't yet lost a stove (on this one)... ;-) While I wait for delayed communication from them, I am looking for alternate management in the Canton area. Did you find a reputable management company that you would recommend? Thanks!
Who do you use for PM for your properties?
Quote from @Jack Smith:
Quote from @Amanda Gauthier:
I recently purchased a property through RTR and while I am happy with them, I am having a lot of issues with KS Yoak PM Company. Not only are they horrible at communication, a stove was stolen from the property when the tenants who weren't paying rent moved out. I was the one to catch it not them during the walk through. Does anyone have any recommendations for a different and better PM company in the area?
I've personally known Steve Yoak for a number of years and both he & Kip have reputations as stand-up guys. That said, they've gone through some huge growth over the last couple years and maybe they're having some growing pains? Try to work through it with your PM or maybe request a different one? Pickings are slim around here for good ones, and what makes a good PM for one LL isn't the same criteria as for another. Just make sure the grass doesn't just look greener before jumping.
If you need any local boots on the ground, let me know and I can assist, I'm in Akron daily.
Quote from @Amanda Gauthier:
Who do you use for PM for your properties?
Quote from @Jack Smith:
Theft is going to happen in this business, at least here and there. No PM can stop something like what happened to you.
I've personally known Steve Yoak for a number of years and both he & Kip have reputations as stand-up guys. That said, they've gone through some huge growth over the last couple years and maybe they're having some growing pains? Try to work through it with your PM or maybe request a different one? Pickings are slim around here for good ones, and what makes a good PM for one LL isn't the same criteria as for another. Just make sure the grass doesn't just look greener before jumping.
If you need any local boots on the ground, let me know and I can assist, I'm in Akron daily.
Hi Amanda, I self manage my properties in Akron, Canton, & Massillon. I also help out of town LLs with consulting services to stay on top of their properties here. I grew up learning maintenance on properties my parents and grandparents had in Akron, then started buying my own after college. 35 years later, been full time for the last five years or so. I tried a few different PMs when I was employed but was never happy with any of them; knew I couldn't do any worse... But this business is not for the faint of heart!
CRPM is the best in akron. Katie Middendorf and her team manage 750 plus doors. I have an occupied rental i am trying to off to fund a renovation if anyone is interested-1072 bellows!
@Amanda Gauthier reach out to katie and tell her i sent you!