What is everyone’s opinions/recommendations on the best property management firms available for MHPs?
My priorities are these:
Screen, screen, screen. Interview them. The first thing I’d ask is - do have any experience managing MHPs, or at least managing MHs?
We went through the process of securing a new PM in 2021 and found that not all PMs work (well) in the MHP space.
In looking at your list, I’d ask:
no. 1) how their tenant communications occur (written via mail, texts, phone calls, property visits etc).
no. 3) Have this written into your contract agreement with the PM. Our PM was pretty strict with filing NTQs, and we added an extra layer in the contract that WE would be notified of any tenants who fell behind by 10 days.
Not on your list - ask about when you will be paid. We once had a PM try to pay us >30 days past the day rent was collected. At that time, we were green and didn’t know any better. This is NOT industry standard. Our new PM was paying us out 20 days after rent was due, which was more reasonable. Be sure you have this in writing, PLUS the process for how you are paid (check mailed to you = more delays. Versus direct deposit - just watch, some use a 3rd party for DD who either charge fees or make you wait 3+ days).
Thank you, Dave. That is great advice. Some of those points you made wouldn’t have even crossed my mind.
I know M Shapiro is a good one, and I briefly spoke with Blank Family Communities. Are there any other ones I should talk to? I am in Maine, by the way.