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Can someone recommend a specific property management company in Hamilton?

danielsparre

danielsparre

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May 8, 2012
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Just purchased a 6 unit building in Hamilton and I'm wondering if someone can recommend a specific property management company... Have spoken to a few and fee's range from 5% - 8% of the monthly income. Why are some companies more expensive and is it worth the extra money to pay for a certain company?
 
Great, I have spoken with 2 of those guys already. Will call the other today. Thank you again for the information Mark!!!
 
Congrats on your new building.



I would suggest that worrying about 5 vs 8 % fees is not relevant in Hamilton. If you can find someone that will keep your building full of paying tenants then it's worth a lot. You can't get this for 5 % on a small building.



You really get what you pay for and in your shoes I would plan on your cost being +10 %. (+ 8 percent, + GST, plus locator fee for new tenants is going to be at least 10% over the course of a year. ) And plan on changing most of the tenants in the first 2 years which is 6 locator fees !



But when you find a PM that you like, wow, enjoy it ! They earn every cent they make and I can't believe they make anything in the first year.



I had poor success with someone in Hamilton (not on your list of 3) and have recently moved to Cornerstone. I am very happy with their start.



good luck



Dave
 
Thank you for the information. Wondering if any of you have heard of a company called S.Suite Management and if you have information about them. The lady I have spoken with was very helpful and has suggested that I look into the Downtown development grant program. I did so and it turns out I do qualify for renovation grants in my area of approx. $10,000 /unit. I thought that was very valuable information for her to bring to my attention. Especially since I have not even signed anything with her company and do not have them currently managing my property.
 
Cornerstone is my PM in Hamilton. Jeff has invested significantly in infrastructure and staff to meet the growing demand for his business. I have no significant knowledge of the others, but can recommend Jeff/Cornerstone based on personal experience.
 
I've used Jeff @ Cornerstone for renovation projects with success.

I haven't used him for PM but can say he is very professional and meets his commitments.



All the best

Thomas
 
Hey Daniel,



Tell your brother I sold my house :)



Make sure to go the Fire Department of Inspection on King William near Hughson. Ask for Peter DeBoer, he's a Fire Inspector and ask him a ton of questions about fire code for a six plex. You'll get a ton of free consulting and its not that far from your property.



Cheers,

E
 
Hi Daniels



I am doing a research on rental property management businesses and i came across your post.

Would you mind filling out this quick survey of 8 questions please? Please see the link

below:



https://www.surveymonkey.com/s/DN96Q7B



Cheers



Guy
 
Not posting three times.

Customer service.

Timely response.

Detailed product and operating environment knowledge.

Knowing how to answer a phone and being polite when a tenant tells you there toilet is clogged is great, but not sufficient.
 
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