All Forum Posts by: Keenan B.

• Reliance Property Management - They have a lower cost for their investors. 
• Chroma Property Management - They are great at handling rentals and are pretty forward on pricing. 

West Ridge Property Management - They offer more a la carte options if you only need help with specific things.

Questions to Ask Your Property Manager - A list of questions that can be used to vet your property manager.

Hope these help

Hi Keenan,

I'd be happy to set-up a time to speak if you're interested in learning more about our company - Chroma Property Management. Feel free to message me via Bigger Pockets or you can find my contact info via our website.

Thanks!

As a vendor, hundreds of our clients are property management companies (from mom and pops with 50 doors to PURE & HRG with tens of thousands under management). I highly recommend (1) checking Google reviews and (2) asking for DATA to back advertised claims (ex: average turnaround time to close a work order, average tenant satisfaction score, etc.). 

 Check google reviews. That is the best way to find out what other landlords and tenants think about them 

Following. I don't know if you know this but to be a property manager in Oregon and collect rent, you need a real estate broker license. And to get a license in Oregon takes 150 hours of class time. I don't have any recommendations for you, the people I know self manage because you can collect rent on properties you own, but you can't manage other people's properties without a broker's license.

I grew up in Oregon and still have a sister living in Portland. I went to visit her in August and that place is turning into a cesspool. Unbelievable.

Remember: cheaper doesn't mean you'll make more money.

Start by going to www.narpm.org to search their directory of managers. These are professionals with additional training and a stricter code of ethics. It's no guarantee but it's a good place to start. You can also search Google and read reviews. Try interviewing at least three managers.

1. Ask how many units they manage and how much experience they have. Feel free to inquire about their staff qualifications if it's a larger organization.

2. Review their management agreement. Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.

3. Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers. It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees. Fees should be clearly stated in writing, easy to understand, and justifiable. Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more. If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee. Don't be afraid to negotiate, particularly if you have a lot of rentals.

4. Review their lease agreement and addenda. Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.

5. Don't just read the lease! Ask the manager to explain their process for dealing with maintenance, late rent, evictions, turnover, etc. If they are professional, they can explain this quickly and easily. If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.

6. Ask to speak with some of their current owners and current/former tenants. You can also check their reviews online at Google, Facebook, or Yelp. Just remember: most negative reviews are written by problematic tenants. A tenant complaining online might indicate that the property manager handled them appropriately, so be sure to ask the manager for their side of the story.

7. Look at their marketing strategy. Are they doing everything possible to expose properties to the broadest possible market? Are their listings detailed with good-quality photos? Can they prove how long it takes to rent a vacant property?

This isn't inclusive but should give you a good start. If you have specific questions about property management, I'll be happy to help!

Greenbridge Property Management would be highly recommended. They work with a lot of out of state owners with single family homes. 2%...I thought my 2.5% couldn't be beat. Portland rates don't justify selling right now, however they may not for the next 3-5 years. What I'm saying is selling soon or stick it out for a better return. 

@Keenan B. this is a great question but I would suggest treating this like any vendor for your market.  So, whether it's an electrician, plumber, title company, or property manager - let's get this answer from other investors in your market.  Let's try some local real estate meetup groups. Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too. Even facebook might have some good local groups for you. Some of those facebook groups have thousands of members. Post this question in there.  Visit these groups in person when they meet.  Eventbrite too. But post locally for this. That’s the best bet.