All Forum Posts by: Jerry Ta

@Justin Stearns

Encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

To avoid going through the same poor experience, keep reading.

Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.

In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

It's often a case of not doing enough research, as they don't know what they don't know!

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.

EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!

This also leads owners to ASSUME simpler is better when it comes to management contracts.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Hello, my name is Sumiya. Today is my first day at bigger pockets and I was going through some posts and I felt so connected with many of the experiences as an owner, and investor in many different levels.  As a property owner and beginners investors I have been struggling a lot with property management companies for our rental home in Woodland. Since I live out of USA now for my job, I feel I am often taken advantages by our property PM companies with bigger maintenance bills, loose communications. Anyways, lately my current property management is acting unprofessional including making fake bills and responding  late to tenants and or any of our requests. I need to change them immediately. Can anyone suggest me to some good PM in Houston areas? 

Thanks! it would be a great help. 

Hello BP community,

I recently purchased my second house, which I am in the process of rehabbing to rent. We had a mold inspection done and there seems to be mold and high moisture content in 2 bedrooms, the kitchen and bathroom areas. I am debating whether to let my general contractor handle the remediation or hire a licensed mold remediation company. The mold inspector said that the contractor could handle it but the home would need to pass inspection in the end. We are addressing the source of the issue, which seems to be blocked weep holes, high brush piled around the periphery of the home, possibly prior leaky kitchen pipes and some holes in the brick. 

What are your suggestions? Should I go with a professional mold remediation company just to be safe? And if so, do you have recommendations for a good company in Houston? I have never dealt with a mold issue befoe so any advice would be greatly appreciated. Thanks so much.