Property Manager recommendations to rent/manage a SFH

gpower25 said:
Thanks everyone. Great suggestions. I contacted a few PMs and they usually charge 7.5%-8% of rent and take 1/2 month's rent for finding a tenant.

I guess I will have to find a responsible handyman who can handle problems that the home insurance will not cover. It may be tricky while I am traveling though. Need some friend/family to handle it while I am away..

Rental posting - do you guys post on Zillow/Trulia or is there a way to post to MLS? I understand that picking the right tenants is the key..

My first time around many years ago when I was new, I posted on Zillow and craigslist.  Zillow has a partnership with postlets I think which help you automatically post to all the other real estate sites like trulia etc.  All of these are the free options

I would still recommend posting to MLS directly.  My second time around, I paid a realtor a small amount to help post it directly to MLS.  That fee also included taking photos of the property, screening applicants, getting the documents ready and e-signed with both parties, doing some showings of the property, and working out the rental price etc...That to me was worth the fee.

USCTRojan is well known here so you can look him up for MAX discounts. Or just go the free route. 
 
I actually thought about this thread and had myself a good laugh thinking about how other people have a preconceived notion that it's so easy to just pick up a phone and things are magically dealt with in a few minutes and with minimal effort. I work for a large property mgm't / community mgm't company. I almost always work "after hours", which presents its own unique set of challenges when it comes to maintenance and landscaping / irrigation issues. Let me tell you it's not always a piece of cake. You don't get to decide when problems arise. They don't always happen 9-5, M-F, on non-holidays.

I just had a situation arise Sunday night with a major water issue at a home in a community we manage. At first, it was thought to be a broken sprinkler. It was pitch black so nobody could really see anything to get a good look at it. The irrigation tech who works at the company we contract with -- he didn't want to get out of bed too quickly. It took him 4 hours to drive up from San Clemente to O.C. to check it out. Except that wasn't the problem. Believe me, he was NOT happy when he realized his trip was for nothing. He said the water coming from inside the house. We couldn't access the house, though. Meanwhile, dealing with a lot of irate phone calls from the neighbors because their sidewalks and lawns are flooded while gallons of water are being wasted during this drought as it gushes out of this home's lot. Our assistant was crying at her desk because one neighbor was being a really verbally abusive jerk to her. I had to let her catch a break while I called the Water District to come shut the water off. It took all night just to get to that point. Repairing the problem hasn't even started yet. Imagine if this isn't your main focus in life.... it's just your side job. LOL!!!  :D It still makes me chuckle. Good luck with that.  ;D ;D
 
What does a PM actually do besides getting tenant and calling handyman for you?  Can I do this and have people give me a flat $100 a month?

TI PM management.. who's in???
 
jmoney74 said:
What does a PM actually do besides getting tenant and calling handyman for you?  Can I do this and have people give me a flat $100 a month?

TI PM management.. who's in???

I'm down for TI management!  8)

I'll be responsible for making the calls to handyman and service requests for home warranty for 25% cut

We got SoCal to take care of those major water issues and irate phone calls with her experience

USCTrojan to list and post to MLS

Anyone else want to join?
 
SoclosetoIrvine said:
jmoney74 said:
What does a PM actually do besides getting tenant and calling handyman for you?  Can I do this and have people give me a flat $100 a month?

TI PM management.. who's in???

I'm down for TI management!  8)

I'll be responsible for making the calls to handyman and service requests for home warranty for 25% cut

We got SoCal to take care of those major water issues and irate phone calls with her experience

USCTrojan to list and post to MLS

Anyone else want to join?

I'm down.
 
SoCal said:
I actually thought about this thread and had myself a good laugh thinking about how other people have a preconceived notion that it's so easy to just pick up a phone and things are magically dealt with in a few minutes and with minimal effort. I work for a large property mgm't / community mgm't company. I almost always work "after hours", which presents its own unique set of challenges when it comes to maintenance and landscaping / irrigation issues. Let me tell you it's not always a piece of cake. You don't get to decide when problems arise. They don't always happen 9-5, M-F, on non-holidays.

I just had a situation arise Sunday night with a major water issue at a home in a community we manage. At first, it was thought to be a broken sprinkler. It was pitch black so nobody could really see anything to get a good look at it. The irrigation tech who works at the company we contract with -- he didn't want to get out of bed too quickly. It took him 4 hours to drive up from San Clemente to O.C. to check it out. Except that wasn't the problem. Believe me, he was NOT happy when he realized his trip was for nothing. He said the water coming from inside the house. We couldn't access the house, though. Meanwhile, dealing with a lot of irate phone calls from the neighbors because their sidewalks and lawns are flooded while gallons of water are being wasted during this drought as it gushes out of this home's lot. Our assistant was crying at her desk because one neighbor was being a really verbally abusive jerk to her. I had to let her catch a break while I called the Water District to come shut the water off. It took all night just to get to that point. Repairing the problem hasn't even started yet. Imagine if this isn't your main focus in life.... it's just your side job. LOL!!!  :D It still makes me chuckle. Good luck with that.  ;D ;D

I'm curious why the Water District needed to come out to shut off the water?  Couldn't someone have just shut off the main water valve?  How often does such an issue happen?  99.9% of the time the PM pretty much just collects the check and calls a handyman out.
 
SoCal said:
I actually thought about this thread and had myself a good laugh thinking about how other people have a preconceived notion that it's so easy to just pick up a phone and things are magically dealt with in a few minutes and with minimal effort. I work for a large property mgm't / community mgm't company. I almost always work "after hours", which presents its own unique set of challenges when it comes to maintenance and landscaping / irrigation issues. Let me tell you it's not always a piece of cake. You don't get to decide when problems arise. They don't always happen 9-5, M-F, on non-holidays.

I just had a situation arise Sunday night with a major water issue at a home in a community we manage. At first, it was thought to be a broken sprinkler. It was pitch black so nobody could really see anything to get a good look at it. The irrigation tech who works at the company we contract with -- he didn't want to get out of bed too quickly. It took him 4 hours to drive up from San Clemente to O.C. to check it out. Except that wasn't the problem. Believe me, he was NOT happy when he realized his trip was for nothing. He said the water coming from inside the house. We couldn't access the house, though. Meanwhile, dealing with a lot of irate phone calls from the neighbors because their sidewalks and lawns are flooded while gallons of water are being wasted during this drought as it gushes out of this home's lot. Our assistant was crying at her desk because one neighbor was being a really verbally abusive jerk to her. I had to let her catch a break while I called the Water District to come shut the water off. It took all night just to get to that point. Repairing the problem hasn't even started yet. Imagine if this isn't your main focus in life.... it's just your side job. LOL!!!  :D It still makes me chuckle. Good luck with that.  ;D ;D

We were talking about managing a single property, not a community. I know a few people that do this on the side.
 
woodburyowner said:
I'm curious why the Water District needed to come out to shut off the water?  Couldn't someone have just shut off the main water valve?  How often does such an issue happen?  99.9% of the time the PM pretty much just collects the check and calls a handyman out.

Who else would shut off the water on a Sunday night without notice? Some situations require immediate attention. The homeowner was not at home and could not shut it off. I do not physically go out there because I am required to stay at my post at the office -- I don't do any of the hands-on stuff. Our maintenance crews work regular business hours. The landscaping tech only handles the irrigation system installed by their company -- they won't touch anything else. I had 3 emergency contacts for the resident. None of them could help. The neighbors were hostile. The water district is the right place to call in this situation. The water district does not want to see hundreds or thousands of gallons of water being wasted. That's why they will dispatch someone 24/7.

Anyone who is thinking of managing their own properties could be in the same situation and needs to know this. You must be prepared to drop everything in order to focus on urgent situations as they arise.
 
jmoney74 said:
SoCal said:

We were talking about managing a single property, not a community. I know a few people that do this on the side.

... and the point is...??

This was a problem on the property, making it a property management issue.
 
irvinehomeowner said:
And charge 8-10% more to offset the PM fee.

You can always use the fact that you have a PM as a value-add.

No tenant will pay you extra rent because you have a PM. Renters focus in on keeping their rent amount as low as possible and definitely not over the market rental rate. 
 
USCTrojanCPA said:
irvinehomeowner said:
And charge 8-10% more to offset the PM fee.

You can always use the fact that you have a PM as a value-add.

No tenant will pay you extra rent because you have a PM. Renters focus in on keeping their rent amount as low as possible and definitely not over the market rental rate.

Agree with you on all aspects here. Renters only care about getting the best for as low as possible. You can throw in a full service maid and they would not care to pay for the higher rental comps. This is speaking on a general renters pool. There a few exception like renting a pent house that pay 20 K a month or more and those are not your regular renter, rather, those are high rollers are few in a millions.
 
USCTrojanCPA said:
irvinehomeowner said:
And charge 8-10% more to offset the PM fee.

You can always use the fact that you have a PM as a value-add.

No tenant will pay you extra rent because you have a PM. Renters focus in on keeping their rent amount as low as possible and definitely not over the market rental rate. 

I wouldn't mind paying a bit extra for a managed rental. That's actually one of the things I look for when renting. I like having a middleman bc not all landlords are created equal. Also in Irvine, there are a lot of non US based landlords.  It's a pain trying to get a hold of them when an issue arises.
 
bones said:
USCTrojanCPA said:
irvinehomeowner said:
And charge 8-10% more to offset the PM fee.

You can always use the fact that you have a PM as a value-add.

No tenant will pay you extra rent because you have a PM. Renters focus in on keeping their rent amount as low as possible and definitely not over the market rental rate. 

I wouldn't mind paying a bit extra for a managed rental. That's actually one of the things I look for when renting. I like having a middleman bc not all landlords are created equal. Also in Irvine, there are a lot of non US based landlords.  It's a pain trying to get a hold of them when an issue arises.

You are definitely an exception, I've never have been asked by tenants or having tenants tell me to ask if the property was managed by a PM or by the landlord.  Tenants just want to have someone to contact if something breaks and know that it will be taken care of in a reasonable amount of time.
 
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