All Forum Posts by: Davartay Miller

Cozy.co 

Hey Martin! Great story and I was once in your shoes. I decided to work for one of the best turnkey real estate companies in the country. All because I wanted the experience with their team. Then it turned to opportunity after opportunity and the rest is history! I would tell you to chase your goals. If you aren’t really sure what that is right now . . . I would say work somewhat in the industry and learn what you like and do not like. We are in 11 cities today and expanding! One of the eleven cities happens to be Houston, TX. I would be more than happy to see if our team can be of any help to you!

Best of luck,

@Aiman Bennroua Congratulations! Big purchase requires big thinking. Now it’s time to turn a profit soon. I am not sure what your end goal is but I would agree with @Billy Daniel with hiring a property manager. However, please be careful on choosing cheaper property managers. I am not saying the most expensive is the best but I am sure telling you cheaper is not always the best. You get what you pay for – some would say. The average property management fee is somewhere around 10%. Property management bring value – if you have the right team. 

If you decide not to hire a property manager then I would suggest doing your research! Please, please, please learn from those who have been down this rabbit hole once before. The residents who you place in your property must be vetted with great due diligence. 

Best of Luck! 

@Kelly W. Please correct me if I am wrong but I gathered the property was “rekeyed.” Rekeyed - meaning change of code/key access so that the previous resident and or persons can not return. Is this correct? If so, this is normal and not rare at all. It’s a rekey process but that process varies from company to company. Typically, the PM does this to protect your asset. If they don’t, perhaps someone returns and damages your property. You would want that, I am sure. Regarding the garage code/clicker, if it did not operate at the time of visit the PM probably sent a technician out to fix it so that it is operable. I will say, our Project managers will try and repair the clickers, if the power is on and it something that can be fix on site (to save our owner that expense). While it may be frustrating, it seems to be needed repairs unless I misunderstood your point. If so, I do apologize. I think it boils down to trust. Hopefully the PM is not nickeling and dimming you. If so, that is not the way you do business and just not right. 

Best of Luck! 

@Kevin Hintz 

I am not sure if you saw @Tony Mai comment but I can not stress the importance of quality. He hit it on the nail! You can not sacrifice quality for a company that’s “cheaper.” Price is often the deciding factor in a consumer’s choice to buy, but if asked many will not agree this is the case. Customers don’t want to seem ‘cheap’ nor do they always want to buy ‘cheap’ items. They generally want value for money or a less expensive item. It’s funny when some claim they are cheaper and when you get into the “nitty-gritty” of things.... they are actually more expensive. Always remember everyone can do it cheaper but not everyone comes through on their promises! Some companies can’t be real and they make fake promises – “to keep up with the Joneses”. I often tell clients, respectfully, we do not proclaim to be the cheapest. If you want cheaper.... yes you can probably find cheaper online! But unfortunately it’s not us and that’s okay. Perhaps we are not a great fit. Our goal is to make life easier for our customers. 

@Justin Polston You are absolutely correct! These are also great questions. However, you will be surprised how many PM’s do not know their data, looking to “Keep up with Joneses” and repeating the data of other greats in the industry, and etc. It boils down to the right questions, honestly. 

Great point. 

@Conor Moran We have a management team in 11 cities, including Birmingham, AL and would love to discuss your needs to see if we can be of service. 

Respectfully,

@Kevin Hintz

@Shakir Elvin Our team services the Huntsville, AL area and we would be glad to assist you in any way we know how. If we can be of any assistance to you and your team – rather that is now or in the future. Please do not hesitate to reach out.

Best of Luck! 

Communication, Communication, and then there’s Communication. Just because someone calls themselves a property management company does not mean they are equipped to handle all the issues that arises in a professional and efficient manner. So ask the tough questions! Ask the questions, write their answers down, and then go fact check! Let’s face it. Managing rental property is no picnic but it’s the systems and team they have in place that could put to bed some of your biggest concerns. When clients call me they inform me that the main reason they are leaving their current PM is because they can not get an answer from anyone. It’s not because everything is wrong but it’s the fact that you are expecting the property manager to protect your investment and if there’s no communication – Yikes! Customer Service is key, man. I can not stress it any more than I have. But it is so true!!!!!! You want the property manager to be licensed, understand quality and top notch customer service for your rental property needs. We manage properties in some of the most desirable areas. But that can not happen if you do not value your residents’ needs and concerns. Needs and concerns are top priority and the knowledgeable team that you hire has to consistently work on improving the quality of service and detail. You want someone who pride themselves in those key areas that I have mentioned. 

Ask them simple questions: 

1. How many properties do you manage?

2. Can I visit your office? 

3. What is your average length of stay? 

4. What is your vacancy rate? 

5. What is the typical lease term? 

6. What is the annual maintenance cost? 

7. What percentage of residents who renew their first lease? 

8. What is the average days to rent? 

9. What is your eviction rate? 

10. What incentives and or program do you have in place for residents when things come up? 

Most importantly, write down how they made you feel on they call. Did they seem like they were pressed for time and if so, will this be their attitude when someone domes up? I am a believer that the first impression is who they really are. I hope this helps! 

Best of Luck,