All Forum Posts by: Dan J.

@Jesse Sasomsup - Great read. Love the idea of not settling for the one size fits all approach. Different submarkets require different strategies even if they are in the same metro area in my opinion. I could imagine dealing with a tenant leaning market like LA has its challenges, I like how you laid out your goals when it comes to tech, strategy, communication, and owner needs. 

@Nathan Gesner Yes! We very much align. I tend to think open and honest communication is the best policy. This does include bad news as well. I have found most owners understand bad things happen, they just don't want to be in the dark.

@Nathan Gesner - Could not agree more! The best policy is honesty in my opinion / experience. For you personally what do you consider timely? 

@Laura Stayton - I like the $250 threshold idea. It seems like it would provide transparency and put the owners mind at ease if there is "an issue" that is large they have a front-loaded idea of cost or will be notified if it exceeds. 

@Jay Thomas - Very well said. I think both parties understand it is a strenuous process (at times) but does not have to be. I think generally the good ones are so desirable because of this.

@Eliott Elias totally agree. I just had a pipe burst in December, I found out about it in early February...

If there is an issue what do you think is an appropriate or reasonable response time to loop in the owner?

@Nathan Grabau totally agree. It would make me hesitant for sure, but not a deal breaker. Definitely situational though

@Douglas Patterson - Communication is big for me as well. I think there is a good balance where we as owners can be informed but not bombarded with subscribed emails. Alignment with interests is a huge must as well. 

@Ryan Lesley - Fee scheduling is huge as well. I have experienced both sides where I paid little fees and they did not do anything and I have paid every fee under the sun. I also think past a certain door count a flat rate or discount is best practice for happy customers and a continued relationship.

@Richard F. - Aloha! Experience is HUGE. I have gone through the eviction process with a PM who had never done it. They waited months for "the tenant to leave." I tend to avoid brokerages as well, I am not a fan of mixing sides of the business unless their company has a different division with a different person dedicated to PM.

@Rick Albert - Reaching out and not hearing back is a pain point for everyone it seems. Market listings is a huge topic as well. As property owners we rely on the income to offset the debt associated (usually). All great points

@Rick Albert

Hi All,

I am working closely with a company to identify what key factors are most important to us when choosing a Property Management company. I own 6 doors currently and know what I think, but I would love to hear what factors are most important to y'all (communication, on time payment, guaranteed rent. eviction assistance, etc.)

No wrong answers!

@Evan Polaskigreat call out !

@Michael Robbinsthank you. That is really good advice. It sounds like we have a very similar thought process. I am very much into the long term gain. That is excellent advicw

@Nicholas Misch I am able to get financing. What would you consider nice from a price point perspective? (Looking into CLE)

@Luka Milicevic when I say lower, I mean relative to what I am used to having RE in Southern CA where the median is $1mm. I would consider “lower” value as a $75k-$150k purchase price