Longtime lurker, first time poster.
I have a passive headache, Sounds like an oxy-moron... right?
Either you accept the headaches for more $$$, or you outsource the headaches and have a coke and a smile.
I have out of state rentals set up with a property manager. He is great to fill units, collect money and handle maintenance emergencies. He understand the courts and how to get eviction's filed promptly. He has a many contractors of every discipline at his disposal.
He advises me on what neighborhoods to avoid, and even throws me off market deals (when one of his other clients is divesting).
Where he lacks is turnover, trend analysis and periodic maintenance of major components.
On turnovers, he focuses on cosmetic issues to get tenants back in ASAP rather than mechanical or other major components that should be given attention while the unit is empty. It sometimes seems like I am getting soaked on these cosmetic issues. For example, getting charged dump run fees even when we leave trash on, every 2 week lawn maintenance while empty, extensive paint jobs (and doesn't leave a gallon for touch up), high cleaning fees (even when we paint the whole house and change the carpets in all rooms), petty itemized things like installing a doorknob or air vent.
On trend analysis he calls out a plumber to unclog a line at the same unit, instead of looking into why he needs the sewer line snaked monthly.
With periodic, there is zero emphasis on annual HVAC checks and other maintenance items that any owner would consider part of management duties.
I have brought this up with him, asked weather he treats his properties the same, and was told "I take care of the issue when it crosses my desk."
He essentially operates a "run-till-fault" maintenance philosophy, even on his own units (or at least he says) that is very reactive.
I am afraid to look at monthly statements, because I am unsure how to bring things up to not sound accusatory. I get anxiety that I am getting ripped off (especially with turnovers).
He is great himself, but his office workers that I must interface with always have an excuse.
I can perform self audits, and have been successful finding honest mistakes, but unsure how I should proceed with my situation. There is something unnerving about auditing your own statements.
So fellow BPers, I ask the following questions:
Is this management property company worth the headache? He is great at the revenue collection and empire building, arguably the most important aspect of why I am doing this.
Should I expect a property management to focus on the overall condition of my units, or just the livable condition?
Outside of his operation, I always find it unnerving to audit your own statements.
How do I deal with the roadrage like anger that comes over me when I don't agree with a charge? I get really wound up over an extra $200 bill.
If nothing else I appreciate the ability to Vent.
I wont get into specifics about what market I am in or amount of units I operate in a public discussion. I assume I have worded this in a way that makes those pieces of information irrelevant.
Thanks for your time and stay safe.
