I am looking for good property management companies in Detroit

Asked by Niyi, Outside U.S. Tue Aug 18, 2009

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6
Nao, , Detroit, MI
Sat Aug 29, 2009
I am an out of town investor. I know some nice property manager depending on where you own prperties.
Please give me an email. I can share info with you.

naoakiwi@gmail.com
1 vote
dan.mullins, Other Pro,
Sat Feb 13, 2016
Lionco Management & Leroy Williams = Con Artists

This group is unlicensed to do property management. They bill themselves as "investor friendly". Turnkey property management... What will really happen?

Leroy Williams will steal your money and do the worst work you could imagine. After dealing with this con man for 5 months and hearing every excuse I could imagine I drove from Phoenix to Detroit to check up on my project. What I found was shameful, work not done, work that was attempted needed to be demoed. Plumbing connections installed upside down, electrical fixtures switches and outlets installed but not even wired, in some cases the drywall was over the electrical box and the light was just screwed into the drywall. He attempted to install cabinets in the kitchen, all I can say is WOW... Possibly the worst vinyl siding installation EVER! The clowns he sends out to do the work camp out in your property, litter the place with empty brandy bottles and swisher wrappers and butts.

Let's just say EVERYTHING this guy touched was done wrong. I have pictures to back up my statements, names and email addressees of others he ripped off as well.His license has been revoked by the State of Michigan. You can look it up for yourself.

Do yourself a big favor... RUN for this guy! He prays on out of town investors. He will even say that this ad is written by someone that never worked with him... another one of his lies.

His own employee quit and contacted me with a list of others he ripped off as well because she was so ashamed that she was associated with this company.
0 votes
Yeah I agree. He fleeced me off a lot of money too. He should seriously be given to the cops. Kept asking for money and did nothing. A real cheater.
Flag Fri Jun 16, 2017
Dmgre, , Detroit, MI
Mon Sep 14, 2009
We have 71 homes in Detroit. I have the BEST property management ever. Call Gary 810 835 2685 or email gawcontracting@hotmail.com
0 votes
Tim Fuller, , Lincoln Park, MI
Wed Sep 9, 2009
We offer many services in the Detroit area with many happy customers and referrals. We provide the following services: home preservation, restoration, rehabilitation, maintenance, installation and inspection services, as well as other services not mentioned. Visit us at our website, http://www.etccontracting.com or see our contact information below:

Etc. Contracting
1504 John A. Papalas Drive
Lincoln Park, Michigan 48146
Office: 1-313-383-6834
Fax: 1-313-447-0962
Website: http://www.etccontracting.com

Thanks,

Tim Fuller
Etc. Contracting
Cell Phone: 313-461-5266
Email: tim.fuller@etccontracting.com
0 votes
Steven Ransom, , 48209
Sun Aug 30, 2009
Niyi,
In every area of the country there are professional managers who specialize in managing residential properties. Identify several management companies you might employ, you still need to do some research. Interview the management company as well as several of its customers.

Determine the following from the company:

1. What percent commission is charged for finding tenants? (Some may charge one-half of one month's rent or even more. Remember, though, that it's negotiable.)

2. What percent of the gross income is charged for management? (Percentages will range from 6 percent for multiunit properties to 10 percent for single-family homes.)

3. Does the management company charge an override on any repair or maintenance bills? (For example, some companies I've heard about will charge $10 on top of every labor or repair bill, and others will charge 10 percent of the amount of the bill.)

4. Does the property management company insist on listing the property for sale if you decide to sell during the management agreement? (You should not agree to this.)

5. Does the property management company provide monthly or quarterly income and expense statements, and are they computer-generated statements?

6. Would it agree to a 60-day cancellation clause for both parties? (I think this is fair and to be argued for.)

7. Would it provide you with the names of three current customers? (If it won't, move on to another company.) Once you receive the names of three current customers, ask the following questions:

a. Have you ever had a problem with the company and if so, what was it?
b. What is its success rate in filling vacancies? What is the longest period of vacancy your property has experienced?
c. What is the worst thing I'd find if I choose to have the company manage my properties?

Based on the information you receive from the company and its customers, you may (if you've decided on management) want to enter into a management contract with them.

Niyi, I'm new to property management. The "art" to properly managing properties, It includes the art of balancing ones time, whether it's time spent screening prospective tenants, taking care of maintenance problems, or rent collection; time spent making financial decisions, such as whether to buy or sell a certain property; or time spent on ones personal life.

Note: Keep in mind as you're reading; professional managers who specialize in managing residential properties. Usually licensed by their state's real estate board or commission, they charge a percentage of the gross income collected as their fee. This percentage ranges from 7 to 12 percent with 10 percent the most common.

Good Hunting! Niyi

Try this one!, it works for me.
0 votes
Hey Steven,

Great Information! I am trying to find the company you suggested and the link does not work are they still in business?

Thank you!

Paul
Flag Wed Sep 5, 2012
Norm Werner, Agent, Milford, MI
Sat Aug 22, 2009
Niyi there are lots of companies in the area that might offer ethe services that you are looking for. My company - Real Estate One - has partnered with a few and you can see them at http://www.realestateone.com/corporateservices_propertymanag…
The companies have different coverage areas and may offer differing levels of services, so there is still some investigation work for you to do. Good luck.
0 votes
Just be careful with Lionco Property Management Company in Dedroit, MI, they promises the best ... result loss, and damages ... I am an out of town investor, who got pictures, and inspection of another property manager and house was with door open, and the work wasnt done, and I payed for it to him .. what can I do in this situation, any advices?
Flag Sat Dec 13, 2014
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