., the result is that we aren’t challenged when we need to take ownership if the borrower can’t perform.    

under performing rent? 

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!

One that is pretty dang reliable for performance.

According to their SEC filing of the $300 million in loan they made, $299,300,000 was NON PERFORMING.  

I think what you describe is pretty much standard performance for rental properties if your not paying cash and I am just assuming your putting max debt on them to try to get your return numbers into your criteria..

I assume in the winter months they would perform well, but in the spring/summer/fall (non ski months) how do they perform? 

He had performed virtually no underwriting.  

How is my property performing compared to the local market? 

I found similar patterns between all 5 companies: namely, they had taken on too many units, were over-charging me for things I didn't need, and weren't handling issues correctly (they would send out vendors who didn't know what they were doing, mis-diagnose issues etc.)No disrespect to the PMs on this chain or BP in general, but any third-party manager won't perform exactly the way you would like them to simply because of the constraints they are faced with as far as having so many units and owners to keep tabs on.