All Forum Posts by: Davartay Miller

@Kyle Smith I failed to mention – despite a property not being in a company's coverage area...... it is absolutely unprofessional to not have a call back. 

I truly hope someone from Cleveland that knows more about the area is able to chime in. However, I would like to say that in some cases a property manager may only operate in a certain percentage of each city we serve, so some properties might be outside their area of expertise, and outside of our realm of management. 

Best of Luck @Kyle Smith

@Alan Y. This is unfortunate! It's never an easy process when this happens. I was actually in a team meeting this morning and discussing this with our Customer Service Department on situations as such. In this case your resident may or may not have posed any red flags from the gate. However, thankfully he did so now rather – later. Now why after signing the lease? Great question. However, I do not have the answer to that. 

What I do know is that we would let that resident out in a heart beat and refund them their money. It's okay to tell a resident: "Hey we might not be a great fit – and that's okay." Look it's nothing against the resident but the goal for most is Long Term. We like to think about the general picture. No one likes loosing money, no one wants the vacancy, no one wants another month on the market, etc. But what will keeping this resident cause me at the end? 

Best of Luck, 

This great @Deanna Lawrence

I wish you nothing but the best moving forward with your investment and team. 

Best Regards, 

Diane,

So sorry to hear about your experience! I do not know Crestcore Realty/Management contract agreement but hopefully they can help shine light on this for you. Being an out-of-state investor definitely requires trusting the team that you selected to protect your investment. With that being said, you still have every right to ask questions to be sure that you are understanding what is transpiring. I say pick up the phone and see where the ball was dropped. In my experience, communication is key and sometimes frustration can boil over and cause a chain of events that could have been prevented.

Our company manages thousands of properties and our process is the same throughout all houses. Curb appeal matters, cleanliness matters, the property condition matters, you – the owner matters, etc. The point I am trying to make here is:

1. Your property manager should be your biggest allies in real estate investment.

2. Effective management is a highly skilled occupation. It's not something that just anyone can do.

3. Good property managers give passive investors the greatest security that can have. They give you the peace of mind that comes from knowing that you don't have to worry about your property.

4. Lastly, managers are your reputation. It's all on the manager. Overall reputation hinges on the performance of your property managers.

@Diane Tycangco I hope that you get answers. I can only hope that your experience moving forward is opposite of what you are feeling today.

Best of Luck,

Margaret, 

Great post! I am not from the Hilton Head Island, SC area but hopefully I can shine some light here. First, I say call the property manager of your course and see the services they offer. It does not hurt to start there. You are not waisting your time. What you are accomplishing here is a comparison analysis. A comparative analysis in an easy way in which two things are compared and contrasted. 

So what should you look for in an individual, team, or company that intends to take care of your investment property day-to-day? These are the questions you should ask as you consider hiring a property manager or yourself. 

1. "How long have you been in business?" Not every company is ready to handle the highs and lows with you and not every owner wants to deal with them perhaps on their vacation. 

2. "How do you market your properties?" This you might be able to answer before you ever meet the potential hire. Think about how you discovered the management team or individual. Did they show up high in Google Ranking? Did they have a nice website? A strong social media platform? If they can't adequately advertise for themselves, what makes you think they'll be able to do the same for your properties? 

3. "What is your standard of success?" In other words, Do they care that you do well, and not just because it means they get paid? Your manager should want to do their job well and be dedicated to maintaining excellent standards. 

Details to focus on to save time, save worry, and save income: 

1. Marketing Management
   
2. Maintenance Management 
   
3. Move-out Management 
   
4. Communication Management 
   

Please note that you are more than capable of doing this yourself. What it boils down to is time and freedom. If you have time and want to do it yourself – go for it. However, I challenge you to weigh your options. 

Best of luck, 

Very unusual Dave! 

Would love to connect you with the Premier Property Management Team, if you have not already selected a manager. 

Best of luck, 

@Marietta Miller That is very interesting! It makes you think that everything will be closer to 20% and never 0%. However, this comes down to integrity. Signing up for property management definitely boils down to T R U S T. If the trust factor is not there – let it gooooooooo! It's not going to work if you feel you will need to go behind them on everything. 

OAN: Congratulations on starting your brokerage up. I wish you nothing but the best as you get started. 

Best of Luck, 

Great points, gentlemen! 

@Carl C. The most important thing here is letting go if you select a property manager. I know it sounds unrealistic but I promise you if you hire a great company that truly knows the market, has systems in place to protect you, has a team of client specialists who will keep you updated, knows the laws, and etc. – You should be in great hands. Now that does not mean do not do your due-diligence throughout the process. All persons should exercise due diligence and consult with legal and tax professionals before making any investment decisions that you are unsure of. I say you start with interviewing others in the area and see what services they provide before getting into pricing. It's going to be natural to think this is high and that is high because remember you did everything yourself. A property manager job is to handle the headaches so that you do not have to. I can not speak for other companies but our team departments are in place so that we can collectively protect your investment: 

Maintenance Department 

Collection Department 

Customer Service Department 

Renewal Department 

Leasing Department 

Renovations Department 

Buying Department 

Sales Department

@Brandon Rush I have a background in architecture, contracting, and project management. My wife and I do own properties but guess what? I have learned to step back sort of. Yes I am similar to you I love it, enjoy every second of it, but there are certain situations that can arise that can spoil it all. I think many of us have had this thought..... I know what I am doing and I don't want to pay someone when I can be sure that it's done, correctly. But at what cost? Missing family time? Not going on vacation when you like? Rushing to resolve an issue because the resident is in your ear? 

Obviously working for a large company managing 7,000+ properties in multi cities – I have seen and heard a lot. There is not much we have not experienced. But even with that said, I was on the fence before saying property management is the best way. 

Again, great points gentleman! I can see where both of you are coming from and hopefully you understand my point of view as well.  @Brandon Rush @Carl C.