My husband and I are thinking of purchasing one or more 4-family properties in another state. It’s too far away for us to manage, so we’d like to find a property manager or property management company. Does anyone know how to find such a company? I’ve looked on the web, but it seems like most of the companies that advertise only handle large apartment buildings. Any guidance or suggestions would be much appreciated. Ideally, we’d like to find a company that could manage just the one, and then take on management of additional properties we might purchase.
ask your realtor or whoever you have on the ground in that location.
check out the landlord forum; they are many old post with excellent discusison about how to evalaute prop. mgmt. Ususally the guys that do big stuff will do small apt buildings too.
Many companies out there will manage one property for a higher fee (about 10% of the gross income). Usually if you have multiple properties with them, it’s lower than 10%. There is a setup fee to advertise and rent your property. It will usually cost you the first month’s rent or a percentage of it. Keep looking, I’m sure you will find one that will help you.