All Forum Posts by: L. Matthew Perry

Good Day All,

I have a question relating to havingProperty management and/or maintenance in house vs using a 3rd party manager.

Some Background:

I have about 135 units in my portfolio - ranging from SFH - Apartment buildings mainly in Rochester, with 10 in Buffalo. Currently, I have a property management company that covers both cities. As you can imagine, as my portfolio has grown so have my maintenance costs and property management fees. This year, I will spend approximately $90k in property management/Leasing fees and another $275K in maintenance (this is material and labor combined). I am in out of town investor.

I think it is time to move operations in house and hire people as there is some opportunity to save money (I think). So I wanted to get some advice on if my logic is sound and if so, how do I go about getting started. Here are some specific questions:

- Outside of the obvious cost savings, are there other considerations to bringing operations in house or or not to evaluate?

- What's the best way to identify people with the right skills to hire? Do you know of anyone is looking for a job in this space in Rochester?

- There are a number of added expenses with NY State when you start hiring full time employees. Anyone has experience in how much those costs might be?

- Suggestions on safeguards I should put in place since I am an out of town investor. Note, I do go to Rochester/Buffalo for at least a week a month

Thanks in advance for your thoughts.

Cheers!

@Alex Scott @Kyle A. - Thanks Gents!  I agree with you Kyle.  I think having a recommendations thread would be great.  If either of you know good all around handy men that can do turnovers, please let me know.

Good Day All,

I have a question relating to bring Property management and/or maintenance in house vs using a 3rd party manager.

Some Background:

I have about 135 units in my portfolio - ranging from SFH - Apartment buildings mainly in Rochester, with 10 in Buffalo. Currently, I have a property management company that covers both cities. As you can imagine, as my portfolio has grown so have my maintenance costs and property management fees. This year, I will spend approximately $90k in property management/Leasing fees and another $275K in maintenance (this is material and labor combined). I am in out of town investor.

I think it is time to move operations in house  and hire people as there is some opportunity to save money (I think).  So I wanted to get some advice on if my logic is sound and if so, how do I go about getting started.  Here are some specific questions:

- Outside of the obvious cost savings, are there other considerations to bringing operations in house or or not to evaluate?

- What's the best way to identify people with the right skills to hire?  Do you know of anyone is looking for a job in this space in Rochester?

- There are a number of added expenses with NY State when you start hiring full time employees. Anyone has experience in how much those costs might be?

- Suggestions on safeguards I should put in place since I am an out of town investor.  Note, I do go to Rochester/Buffalo for at least a week a month

Thanks in advance for your thoughts.

Cheers!

- 

Good Day All,

Does anyone have a suggestion on a good Evictions Lawyer in Buffalo?

Good Day Community,

I am looking for an good & reasonable electrician in Buffalo for a couple jobs National Grid is requiring me to do.  Any suggestions?

Good Day All,

Any thoughts on a reliable maintenance person or company in Buffalo?  I am struggling to find dependable and professional maintenance resources in Buffalo.  Hoping some of you have recommendations.