All Forum Posts by: Alexander Stringfellow

Yes, as James says, it's not an easy business. Especially in this area. But I think the main problem I've seen, after working at 4 different larger property management companies in the area is that because there is such a high demand for good property management, they'll take on more properties than they can manage effectively, because they want to make more money. They also employ the fewest amount of people possible, to make more money. For two different companies, I was the only leasing agent for 30-50 properties at a time. I'd be lucky to get to each property once a week. Is that what the owner had in mind when trying to get their property leased out?

They usually have one or two maintenance directors handling complaints on hundreds to thousands of properties, and don't have the capacity to manage it properly. When interviewing property mangers, these are the kinds of questions I'd be asking. How many leasing agents do they have? How many people do they have overseeing maintenance complaints, repairs, and renovations If it's one or two people for 1000+ properties, as it was at every place I've worked, it's not going to be efficient. If they won't disclose that info, I would hang up on them. Plus, a lot of these people running these companies were realtors or landlords in the past, but have no business background and no education about how to run a business properly and it's evident by how they run their businesses and treat their employees.

Thanks David, this was really clear. I see the same happening in other markets but it sounds particularly intense in Cleveland

0 Votes

Cleveland, Ohio

Thanks, yeah I'm curious because those problems should apply to every city equally. But most of the requests are coming from Cleveland specifically. I'm South Florida-based but seems like it could be a good expansion city

0 Votes

Cleveland, Ohio

Browsing the PM forum I see so many requests for Cleveland property managers recommendations.

Is there a reason why finding a good PM there is so hard?

3 Votes

Cleveland, Ohio

I have a much simpler solution. We charge a % of the net income (collected rent - maintenance) with NO leasing commissions or renewal fees. That means our interests are 100% aligned with the owner - for leasing, renewals and maintenance

0 Votes

Tampa, Florida

My company does some short-term, but we specialize in mid-term rentals (1-3 months). The rent is similar, but with much higher quality tenants and less vacancy risk. Let me know if you're interested. We're local to South Florida

0 Votes

Fort Lauderdale, Florida

All Forum Posts by: Alexander Stringfellow

Alexander Stringfellow has started 6 posts and replied 22 times.

Post: Property Management (for investors)

Post: Property Management (for investors)

Post: Property Management (for investors)

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Post: Why is there so much need for PM in Cleveland?

Post: Why is there so much need for PM in Cleveland?

Post: Why is there so much need for PM in Cleveland?

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