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Updated about 18 hours ago, 11/18/2024
Please suggest a PM for the 44111 zip code
I just got definitive proof that my PM is stealing from me. I won't go into the details but I need a new PM ASAP. I have read dozens of reviews and forum posts on PMs in the Cleveland area. Even though I have done my own research, I still came up empty handed. My property is in the 44111 zip code. Can anyone here please make some recommendations for a good PM. Thank you in advance!
Hey Trent, I'd be glad to connect you with my go-to PM.
- Samuel Diouf
- [email protected]
- (614) 662-1652
Quote from @Trent Paulk:
I just got definitive proof that my PM is stealing from me. I won't go into the details but I need a new PM ASAP. I have read dozens of reviews and forum posts on PMs in the Cleveland area. Even though I have done my own research, I still came up empty handed. My property is in the 44111 zip code. Can anyone here please make some recommendations for a good PM. Thank you in advance!
Trent, sorry to hear that! Unfortunately, there is a good number of illegitimate PMs and contractors in the Cleveland area, BUT quality property management does exist here. I would be happy to chat further if you would like.
Quote from @Jessica Larson:
Quote from @Trent Paulk:
I just got definitive proof that my PM is stealing from me. I won't go into the details but I need a new PM ASAP. I have read dozens of reviews and forum posts on PMs in the Cleveland area. Even though I have done my own research, I still came up empty handed. My property is in the 44111 zip code. Can anyone here please make some recommendations for a good PM. Thank you in advance!
Trent, sorry to hear that! Unfortunately, there is a good number of illegitimate PMs and contractors in the Cleveland area, BUT quality property management does exist here. I would be happy to chat further if you would like.
Hi Jessica,
Yes, I would love to chat more.
Hi @Trent Paulk just sent you a PM.
Chat I am a fellow real estate investor and have been through a few PMs in Cleveland. Lets chat off line as I would like some more info
Quote from @Trent Paulk:
I just got definitive proof that my PM is stealing from me. I won't go into the details but I need a new PM ASAP. I have read dozens of reviews and forum posts on PMs in the Cleveland area. Even though I have done my own research, I still came up empty handed. My property is in the 44111 zip code. Can anyone here please make some recommendations for a good PM. Thank you in advance!
I know them all , happy to help
BTW you do not need a PM you need a " maintenance coordinator " Half the price of a PM with the same service
That's terrible! I've worked for several PM firms in the area and one company stole like 30k in commissions from me when I no longer wanted to work at their god awful company.
I can definitely advise you on some property management companies to stay away from, as well as some new and upcoming property management companies in the area that are taking a more hands on and professional approach.
- David Leggett
- [email protected]
- 440-781-6174
Quote from @Bob Stevens:
Quote from @Trent Paulk:
I just got definitive proof that my PM is stealing from me. I won't go into the details but I need a new PM ASAP. I have read dozens of reviews and forum posts on PMs in the Cleveland area. Even though I have done my own research, I still came up empty handed. My property is in the 44111 zip code. Can anyone here please make some recommendations for a good PM. Thank you in advance!
I know them all , happy to help
BTW you do not need a PM you need a " maintenance coordinator " Half the price of a PM with the same service
Hi Bob! Can you suggest maintenance coordinator in the Cleveland area?
Quote from @Kemi Bablo:
Quote from @Bob Stevens:
Quote from @Trent Paulk:
I just got definitive proof that my PM is stealing from me. I won't go into the details but I need a new PM ASAP. I have read dozens of reviews and forum posts on PMs in the Cleveland area. Even though I have done my own research, I still came up empty handed. My property is in the 44111 zip code. Can anyone here please make some recommendations for a good PM. Thank you in advance!
I know them all , happy to help
BTW you do not need a PM you need a " maintenance coordinator " Half the price of a PM with the same service
Hi Bob! Can you suggest maintenance coordinator in the Cleveland area?
Of course, feel free to reach out
@Trent Paulk what are you going to do differently to screen a new PMC to avoid what just happened?
Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
To avoid going through the same poor experience, keep reading.
Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.
In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.
It's often a case of not doing enough research, as they don't know what they don't know!
Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!
So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.
EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
This also leads owners to ASSUME simpler is better when it comes to management contracts.
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
- Michael Smythe
Quote from @Michael Smythe:
@Trent Paulk what are you going to do differently to screen a new PMC to avoid what just happened?
Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
To avoid going through the same poor experience, keep reading.
Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.
In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.
It's often a case of not doing enough research, as they don't know what they don't know!
Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!
So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.
EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
This also leads owners to ASSUME simpler is better when it comes to management contracts.
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
I have tried to do about 95% of what you suggested and I keep coming up empty handed when trying to find a decent PMC. That's why I posted here asking for recommendations. Unfortunately, most of the responses have not been recommendations. Instead they have been, PMC companies wanting me to jump on board with them. FWIW, the only assumption that I made was assuming that the PMC would not steal from me. Seems like a safe assumption, but maybe I should add "Do you steal from your clients?!?" to my list of PMC interview questions.
What I would really like is to hear from property owners who have FIRST HAND experience with PMCs and can make a recommendation.
It looks like the BP community has your back on this! I assume you're not local because the 44111 zip code has excellent properties and is definitely worth holding onto. I hope you find a good property manager soon, and feel free to reach out if you just want another recommendation. Good luck with the search!
Quote from @David Leggett:
That's terrible! I've worked for several PM firms in the area and one company stole like 30k in commissions from me when I no longer wanted to work at their god awful company.
I can definitely advise you on some property management companies to stay away from, as well as some new and upcoming property management companies in the area that are taking a more hands on and professional approach.
Hey, David! I'm also looking for PMs in the Cleveland area. Would love to hear of thoughts on who to avoid.