Property Management Companies

This is your chance to learn from the best, network with the best, and become one of the best in the game. No fluff. Just deals, strategies, and lessons from the front lines of today's market. Pinpoint the best real estate market for your specific goals with expert recommendations and real-time data on appreciation, affordability, rent-to-price ratio, and more. Get unlimited access to tools and resources that make it easier to find, analyze, and manage deals with confidence! Search nationwide listings with built-in cash flow analysis. Scale your portfolio with off-market deals. Is it a good deal? Run your numbers like a pro with this simple yet powerful calculator. Understand how much rental income you can expect based on recent reports and data for your specific property. Manage tenants, tasks, and your entire portfolio with one simple tool. Find reliable property management partnerships that last. Avoid mistakes and make informed decisions with Pro. Promote your business on BiggerPockets and make quality connections with the right investors. Scale your investment framework with this valuable guide to compounding real estate success. Outsmart the short-term rental competition Cash in on the exploding STR market with this must-have guide from expert Avery Carl. Get off the sidelines and take action in real estate investing with BiggerPockets Pro . Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success. I'm an out-of-state investor closing on a duplex soon and looking for recommendations for reputable property management companies in the area. Any insights would be greatly appreciated. Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible. Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company. To avoid going through the same poor experience, keep reading. Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source. 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 – so, they often select the first PMC they call or that calls them back! 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! A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print? 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 How many investment properties do you have? None 1-2 3-5 6-9 10+

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