Mid Term Property Manager

[Berron J.]

Im looking for recommendation for Mid Term Property managers within the Phoenix area. 

[Colleen F.]

@Berron J.  you just need a property manager, they don't specialize in MTR, they are the same as those that manage other types of rentals. 

[Allen Duan]

Wouldn't you need a property manager who specializes in furnished rentals? Managing MTRs and STRs are more similar to me than managing a LTR. We manage MTRs in Los Angeles so I can't help you Berron. But I'm happy to answer any questions about MTR property management as you search for a local company.

[Drew Sygit]

@Berron J.

Even if someone give you a referral, what meets their expectations, may not meet yours.

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 – and they often select the first PMC they call!

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!

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord. Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:

https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

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😊

Please send us any feedback via email, as we do not use the DM feature here.

[Andrew Street]

Hey @Berron J., Please look in your inbox. I just sent you a message. Talk to you soon!

[Kereth Connolly]

Quote from @Berron J.:

Im looking for recommendation for Mid Term Property managers within the Phoenix area. 

Did you find someone you can recommend? I'm also looking for a MTR property manager in the Phoenix area. Thanks!

[Dick Rosen]

We can do MTR but we prefer to stay away from furnished properties.

[Zachary Deal]

I would recommend posting in the classified sections of BP. That can be a great place to find local connections. Also, try going to local RE meetups!