Looking For Property Manager In Housting

2 months ago

Kitchener ON, Canada BiggerPockets Inc. Full time
Looking For Property Manager In Housting (Katy & Humble Specifically)

I'm expanding our portfolio and looking for a property manager that services the Houston area (Katy and Humble areas specifically). Thanks

Even if someone give you a referral, don’t make the mistake of assuming that PMC will meet your expectations, just because they met the expectations of the referral source.

We also can’t believe how many owners hire the first PMC they speak with

Then they complain their expectations aren’t being met

In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

It's often a case of not doing enough research, as they don't know what they don't know

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – and they often select the first PMC they call

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.

EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do

This also leads owners to ASSUME simpler is better when it comes to management contracts.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord. Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “ How to Screen a PMC Better than a Tenant ”:

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises

P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above

#J-18808-Ljbffr

  • Manager/Property Manager

    2 months ago

    Kitchener, ON, Canada BiggerPockets Inc. Full time

    Looking For Property Manager In Housting (Katy & Humble Specifically) I'm expanding our portfolio and looking for a property manager that services the Houston area (Katy and Humble areas specifically). Thanks! Even if someone give you a referral, don’t make the mistake of assuming that PMC will meet your expectations, just because they met the...

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