My current property management company is taking me to the cleaners. I need some recommendations for companies in the Louisville, KY area.
I am an out of state owner with a some units managed by what was a reputable company. How can I verify the repairs and service calls that I am billed for, are legit? And how can you verify references are legit when interviewing new management companies?
Pop in for a visit. As an out-of-state investor it is the best way for you to protect your properties. But if you can’t or won’t drop in every 6-9 months to check on your investments. The best thing to do is build into the managment contract clauses that management company provide you with digital pictures before/after any repairs over a certain threshold and a the phone number for the contractor who performed the repairs. Before approving any major repairs I’d have a third party inspector check out the problem before approval.
To find Legit new companies, call other complexes in your investing area and find out who is managing the most properties.