Success with Property Management companies - Posted by Tim

Posted by Dave on March 01, 2001 at 18:23:04:

Watch out for some management companys that have an exclusive listing agreement clause in their management agreement that requires you to pay them a commission on the sale of any property that sells when they are managing it or within six months thereafter.That includes a sale to a tenant!

Success with Property Management companies - Posted by Tim

Posted by Tim on March 01, 2001 at 12:05:07:

Has anyone in CT had any success with property management companies? I just spoke to a couple of companies and they said they weren’t interested unless there were at least 10+ units per property. At this point, the only properties I’m looking at are 3 and 4 family homes. They said they might be interested if I had 5+ of these homes but not 1 or 2. I guess I can understand that. Anybody have any thoughts on the subject?


You’re too small for the Big Boys - Posted by Frank Chin

Posted by Frank Chin on March 01, 2001 at 16:04:57:

I assume you talking about big property management companies.

There was an post in the Carleton Sheet forum where someone talked about how he managed all types of properties:

For small property owners:

1- Some local realtors do property management on the side. They look at it as an opportunity to get to know you and sell it at a later time. A friend of mind had a realtor doing it for free in Ocala FL. He lived in New York City at the time.

2- Some appraisers and home inspection people I run into also do this on the side.

3- Another way is to hire retired people locally to manage it. A retired person on the same block works best.

4- Give one of the tenants $100.00 (or whatever) off on the rent to be the property manager.

5- For SFH - explain to tenant that repairs is part of the deal.

Hope this helps. Good luck hunting.