Suitable property Management

Hi Nikky!

I recommend using Property Manager Finder. It helps you find reliable property management partnerships and gives you everything you need to make confident hiring decisions:

• Expert Matching: Match with professionals who meet your criteria
• Extra Assurance: Licenses, experience, ratings, reviews, and more that can be cross-checked with BiggerPockets members
• Bonus Content: Receive an essential interactive workbook: “How to Interview Property Management Companies

@Nikky Jarvis you can find some posts about Mynd here via search. 

They had some problems in the past, but many of their offices seemed to have improved.

Still, recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.

Check out NARPM.com, BP’s Property Manager Finder, etc.

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😊

@Nikky Jarvis

When picking a property management firm, think about things like their name, how long they've been around, what they do, and how they screen tenants. Look at how they talk, their openness, costs, and deals. Know their local market smarts, licenses, and certifications. Check Mynd's name and what other owners say. See if they are quick to respond and good at talking. Look at their experience with homes like yours—be it single homes, multi-units, or commercial properties. Ask about tenant checks, how they keep in touch, and how open they are about costs. Get clear on their fees, deal terms, and local know-how.
Make sure the company is licensed and certified in Texas and take references from other property owners. By doing so, you can make an informed decision in choosing a property management company.

Good luck!

Thank you so much for this information. Very helpful!

Quote from @Wale Lawal:

@Nikky Jarvis

When picking a property management firm, think about things like their name, how long they've been around, what they do, and how they screen tenants. Look at how they talk, their openness, costs, and deals. Know their local market smarts, licenses, and certifications. Check Mynd's name and what other owners say. See if they are quick to respond and good at talking. Look at their experience with homes like yours—be it single homes, multi-units, or commercial properties. Ask about tenant checks, how they keep in touch, and how open they are about costs. Get clear on their fees, deal terms, and local know-how.
Make sure the company is licensed and certified in Texas and take references from other property owners. By doing so, you can make an informed decision in choosing a property management company.

Good luck!

 Thank you for your response - good information.

Quote from @Noah Bacon:

Hi Nikky!

I recommend using Property Manager Finder. It helps you find reliable property management partnerships and gives you everything you need to make confident hiring decisions:

• Expert Matching: Match with professionals who meet your criteria
• Extra Assurance: Licenses, experience, ratings, reviews, and more that can be cross-checked with BiggerPockets members
• Bonus Content: Receive an essential interactive workbook: “How to Interview Property Management Companies

 Thank you so much for your response.. I'm now exploring all the suggested options!

Quote from @Michael Smythe:

@Nikky Jarvis you can find some posts about Mynd here via search. 

They had some problems in the past, but many of their offices seemed to have improved.

Still, recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.

Check out NARPM.com, BP’s Property Manager Finder, etc.

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😊

Quote from @Michael Smythe:

@Nikky Jarvis you can find some posts about Mynd here via search. 

They had some problems in the past, but many of their offices seemed to have improved.

Still, recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.

Check out NARPM.com, BP’s Property Manager Finder, etc.

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😊

@Nikky Jarvis There's a lot of solid advice from @Michael Smythe!

Only thing to add - there seems to be two main types of PMCs - one that looks to the owner drive the decisions and keep things organized, the other is a professional that puts the owner and property into an effective system. 

If you want the former, go with the Mynds of the world. 

If you want the latter, check out NARPM and find a solid local company. 

All the best!

Quote from @Nikky Jarvis:

Quote from @Wale Lawal:

@Nikky Jarvis

When picking a property management firm, think about things like their name, how long they've been around, what they do, and how they screen tenants. Look at how they talk, their openness, costs, and deals. Know their local market smarts, licenses, and certifications. Check Mynd's name and what other owners say. See if they are quick to respond and good at talking. Look at their experience with homes like yours—be it single homes, multi-units, or commercial properties. Ask about tenant checks, how they keep in touch, and how open they are about costs. Get clear on their fees, deal terms, and local know-how.
Make sure the company is licensed and certified in Texas and take references from other property owners. By doing so, you can make an informed decision in choosing a property management company.

Good luck!

 Thank you for your response - good information.

 My pleasure!

Keep learning and growing...