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Another bad property manager?

June 30, 2013

Driving by one of my rentals last week and caught a For Lease sign in the front window of a beat down property. The place looked terrible with the yard really over grown. The phone number led to an answering machine for some Real Estate sounding company. This sounds like a property managerment company and a really bad one at that.

I hope that they already have it leased and are just waiting for the move-in date, but either way the yard should never look like this. My biggest issue with property managers is the compensation model just does not lend itself to them getting your property leased out efficiently. They get their upfront fee for leaseing it out eventually. They will lose the 8-10% or whatever per month mgmt fee if it takes them several months. But really this is not enormous money and once they get it leased out, then they start that fee again.

Their urgency at answering the phone, showing the property, and general personal touch is just not there. I left a message inquiring about the property but never heard back from them. The outside of the home was rough and I assume the inside might be more of the same. To be honest though, I am almost glad these kind of places are out there – It really differentiates my place.

bad PM

From → Landlord

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