All Forum Posts by: Kenny Dahill

 Unfortunately that is not uncommon.  Also, I'm not a property manager.  In fact, I self-manage for similar reasons.  All valid points, although there are great managers out there as well but we just need to identify them.

However, if he has a valid reason to terminate the contract because they're in breach then he could have his way out without paying the fees.  If they're performing all required scopes of services but terrible at responding or pick expensive vendors, that might not justify as breaching and could result in him having to pay the fees.

@Surendra Shetty Do you currently have a PM?

The biggest pro is the fact that it's your lease agreement and you control it.  Some investors like to get their own leases because of unique terms and circumstances.  They're willing to have their own attorney write them.

The biggest con is PM's want tenants on their lease agreement, so they can control the process.  You might have difficulties finding a PM willing to accept managing with your lease.

@Dorothy Pang Plane tickets are cheap.  Evictions and damages are not.

Morale of the story: spend the few hundred dollars to go see Indy in person.  Spend a few days out there and talk to multiple of these TK providers!  You're willing to spend thousands, what's a few hundred more for due diligence and quality assurance.

@Aleksandr Pisarevich What type of properties are they: SFR or multifamily? Also, how many? With enough units you could benefit from discounts.

I'll send you a direct message with more considerations when searching for a PM.  Obviously it's crucial you align with a great PM that fits your needs.

@Matthew Fitzgerald Also, I'll be out in LA area the first two weeks of October for our Burbz tour. Let me know if you're available and/or interested in meeting up. I'll be attending some REIA's while out there.

@Matthew Fitzgerald  Any other special requirements besides Section 8?

Also, I'll send you a direct message with more information for Cincinnati.

@Kiersten Vogt Congrats on wanting to start!  As an investor, it comes down to value for me personally.  If I have a tough tenant or area, then it's worth more money to hire out.  If it's an easy property to fill then I'm less inclined to spend more in management fees.  You may want to consider adjusting your rates depending on the difficulty.

Every state is going to have different requirements.  As a realtor in Arizona, be extra careful/mindful how you handle your accounts.  A lot of brokers get in trouble for commingling or taking temporary funds out, even if they reimburse.

@Lisa Pecora Sorry to hear!  What is the problem currently?

If you need a new PM, please feel free to contact me and we can help align you with a great PM.

@Julia Vang Hart Make you to get several bid proposals and consider elements such as: inspections, how late fees are split, vendor mark-ups, and lease renewals.

If you need help, please let me know.

@William Huston 5 properties in 5 states, kudos!  Obviously out of state properties make it harder to self-manage.  Emphasis on hard, not impossible!  What's most important is your tenant placement as well as the quality of tenants.  If you have a good tenants that don't need babysitting, self-managing is easy.  If you need to bang on the doors every month to collect rent, then hire a PM.

Tenant placement is key!  Get that scope covered and you're golden.  You can even do all your own marketing, due diligence and lease coordination, you would just need somebody to host an open house to meet the tenants and then do their walk-thru inspections.  I would love to help you out on this task of finding an agent/manager for the tenant placement scope.