Calgary Property Management - who is suck and who is not?

C

CalvinTruong

0
Registered
Hi there, I have been searched through this forum and saw many posts on the property managers that one should stay away from but didn't see much recommendations for the good ones. There must be few decent property managers in Calgary. I understand that sometime you don't want to share them as they take on additional properties their services may not be the same in the future. But that is also unfair to them either.

I have a single family home in Arbour Lake within five minutes walk to the Crowfoot LRT station. Location is decent and home is recently renovated. I am curious to know who is the good property management and who is not for single family.
 
Matt Crowley

Matt Crowley

0
REIN Member
Do not hire a PM company for SFH! They basically charge an ongoing leasing commission and do no work on a monthly basis. You will lose $300 per month and be totally puzzled as to what they are dong for the money. The reality is there just isn't enough money there for them to provide any service at all (I've looked at this extensively).

What works better in my opinion:
- find someone who is handy to work as a house supervisor - they are the first point of contact for (rare) tenant concerns and do a drive by every month
- they can look at a problem and take pictures and send them to you
- you then evaluate best ways to manage that issue and hire subs
- supervisor meets subs on site
- you do all the books (basically nothing to do every month with QuickBooks / write monthly PM report)

The PM you hire will do less work than the supervisor role outlined above. This is a great gig for a smaller handyman company that does maintenance work as they get a stream of ongoing income and all the handyman work from the property.

You will get basically zero service from the PM you hire and will charge out their handyman at $50 / hour + materials and markup.
 
H

Havan8655

Focused Investor
Registered
Matt Crowley said:
Do not hire a PM company for SFH! They basically charge an ongoing leasing commission and do no work on a monthly basis. You will lose $300 per month and be totally puzzled as to what they are dong for the money. The reality is there just isn't enough money there for them to provide any service at all (I've looked at this extensively).

What works better in my opinion:
- find someone who is handy to work as a house supervisor - they are the first point of contact for (rare) tenant concerns and do a drive by every month
- they can look at a problem and take pictures and send them to you
- you then evaluate best ways to manage that issue and hire subs
- supervisor meets subs on site
- you do all the books (basically nothing to do every month with QuickBooks / write monthly PM report)

The PM you hire will do less work than the supervisor role outlined above. This is a great gig for a smaller handyman company that does maintenance work as they get a stream of ongoing income and all the handyman work from the property.

You will get basically zero service from the PM you hire and will charge out their handyman at $50 / hour + materials and markup.
Click to expand...
But hard to find such a handy man house supervisor though!
 
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