Seeking Reliable Property Management Company with Affordable Fees – Recommendations

[Aasem Sulehria]

Hello BiggerPockets Community,

I’m currently looking for a reliable and trustworthy property management company to manage my single-family,  2 story rental home in Spring, TX, as I will be relocating for a residency opportunity in Missouri. Ideally, I’m seeking recommendations for a company that offers affordable monthly fees, clear communication, and comprehensive property management services.

Reviews online are hard to trust.

Key considerations include:

• -Experience and expertise in managing properties like mine.
• -Thorough tenant screening and vetting (background checks, credit reports, rental history).
• -Transparent pricing with no hidden fees, especially for leasing, maintenance, and emergency services.
• -Strong communication and customer service with both property owners and tenants.
• -Solid reviews and testimonials from other landlords regarding their reliability and effectiveness.

I’d also appreciate any advice on red flags to watch out for when selecting a property management company, as I want to make sure I make the right choice.

If anyone has had a positive experience with a company (either local or out-of-state), I would love to hear about it.

[Michael Smythe]

@Aasem Sulehria how well do you understand the tradeoff between price & quality of services?

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😊

https://www.biggerpockets.com/member-blogs/3094/91878-how-to-screen-a-pmc-better-than-a-tenant-part-2-communication-and-docum

https://www.biggerpockets.com/member-blogs/3094/91879-how-to-screen-a-pmc-better-than-a-tenant-part-3-the-management-contr