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Getting property manager options-thoughts?

February 17th, 2014 at 03:23 pm

Hi guys. IN an effort to be prepared and reduced risk. I have been looking into other property managers.. so if one does not work out at some point I have a back up. I can not run these homes, 3 units myself.. nor do I want too. I am also not satisfied w the 6 homes guy and wanted to see what else was out there.

Ok. .I have woman A on the 3 units. I like her a lot.. Strict no nonsense lady. People including tenants respect her. Very communicative so I am not worrying or asking questions. Sortof a 'get it done' type which I like. I give her guidelines and she gets things done within those. If there is an issue she communicates (tree fell on one of the 3 units, late rent etc). She is a realtor w an active real estate office and has been around for a long time. I trust her. Her personality is similar to mine. She has a brick and mortar office in town. She also, if my suggestions thoughts are wrong, is not afraid to point it out.

and I have man B on the 6 homes. B has 26 units of his own and also property manages full time. He is also head of membership of the local landlord association.

Problem is I do not trust person B and was thinking of finding options to him for now and 'just in case'. B has said things before that he has not done. When there are issues I am 'surprised' w the bad news or asked to 'help' and feel I have to take the ball (example the water issue at the one house). I am told things are handled and they are not. Tenants saying they are not getting called back. Several times when appointments were set w tenants and he did not show. Seems like life stops on the 'weekend'. Had a electric issues at the 2 flat and the tenant ccalled B first and then called Me because B 'does not respond'. I called B (got no response all night) and ended up sending someone over there to fix the issue. I feel the tenants do not respect him and I am not sure I do. I HAVE talked to B on this with really no results. I however have not been as strong w my words as I could be because I had no back up. I feel he may not have be up to it or too swamped. He appears 'swamped' all the time and overwhelmed. He has 'fixed' things 2-3 times that should have been replaced..costing me more $. Late fees being dropped etc etc.

Options so far

1. person A has the address list and is driving around (when the snow clears up) to see if she can take all or some of the homes. News this week.

2. Went to meet w this guy Saturday, ex marine, has 50 units and manages 50 more, office in town, investor and more of a 'get it done' attitude, I felt more of a fit with himn. He charges 1% more and some other costs but if things are 'handled' and I can trust him .. seems worth it.

Plan is to wait til Wed/Thursday and see if A has time for more units and write up what I really want.. so I am clear and then get some input, talk to these folks (new guy and A) and decide.

Maybe I talk to person B first .. probably.. but just feeling he is not up to it. If the tenants do not respect him.. they take advantage and in so doing take advantage of me

In general I feel the 6 homes are not run 'tightly' and some of the things that have occurred just make me not feel 'secure' that he is handling things and I am always feelgin I have to call him.

So.. news this week.

2 Responses to “Getting property manager options-thoughts?”

  1. Another Reader Says:

    It's tough to switch property management horses in mid-stream. There will be problems, and you should review your management agreement to see if there are any penalties for cancelling when the lease is not over. Some hiccups in rent collection and distribution are exactly what you don't need right now.

    Sadly, that property manager is not unusual. The ones that run a tight ship are few and far between. I would get references on all of the ones you are considering and call them. In addition, you will have to be careful how you drop this guy's services, as in his position with the local landlords' association he could damage your reputation.

  2. creditcardfree Says:

    If you can make the switch work, it does seem like a good idea. Being very firm with person B is a very good first step.

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