Hi everybody! I'm brand new to real estate (and Bigger Pockets) but I'd like to share something I've learned from my experience as a renter. I rented an apartment for six years (I know, I know, huge waste of money... that's a whole different story) and it changed management companies while I lived there. Long story short, the new management company (this particular company manages around 50,000+ units in the US) ruined the place for me. They took advantage of the renters with hugely overblown fees, they hired unprofessional and dishonest staff, and they didn't allow enough in the maintenance budget to repair anything properly. Safety issues were covered up, and tenant's requests were ignored. Because we, as tenants, understandably have no contact with the owner, I can only assume that the owner was unaware of how his complex was being managed. In any case, I just wanted to put my two cents out there to those of you who are using a management company. Be careful. Just because a PM has a good reputation among owners doesn't mean that it's an ethical company. Sure they may maximize profits for the owner, but at what expense to the residents?
