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Updated almost 4 years ago,

User Stats

49
Posts
54
Votes
Michael S.
  • Rental Property Investor
  • Gilbert, AZ
54
Votes |
49
Posts

Property Manager Expectations, what's realistic?

Michael S.
  • Rental Property Investor
  • Gilbert, AZ
Posted

What should you expect from a property manager? What are realistic expectations? Let me know if I am expecting too much and if you have any recommendations for Phoenix, Arizona.

Is it unrealistic to have a manager drive by the home once every few months to see if the landscape is dying or over run with weeds or beer cans? It’s depressing and expensive to remove old dead trees. I had one manager tell me they visit the home once per year, additional visits are $70 each.

Wholesale Prices vs Retail for Repairs:  Should a property manager have a handful of repair people that they can call upon who charge wholesale prices rather than retail prices? My thinking here is that a manager should be able to negotiate lower repair costs since they can offer the service person more business.

Good marketing:  Bright, clean photos of the home. Ability to post the home online on multiple venues if needed and drive applicant interest and take applicant calls. My first property manager somewhat lax at marketing and answering the phone. This created increased vacancy times and lowering the rents. Eventually I had a friend call the manager to express interest in a rental and she never returned his call. I realized this was happening all of the time

Good judge of character:  Screening applicants but also looking at the unwritten things such as sloppiness or the condition of the applicant’s vehicle.

Financially Responsibility/fiduciary:  Honest accounting, timely payouts and paying of rental taxes. My second property manager was great… or at least I thought they were until they were shut down by the Arizona Department of Real Estate for embezzling all of the security deposits.

Thanks for your input.

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