Last year, we purchased a condo in a new build with the intention of renting it out. As it approaches completion, we started looking into property management companies. Turns out the developer we purchased from - Platinum Properties - is doing a pooled property management approach for their investors. We are in discussions with them about being part of their 'Equity Builder' program. Since we've already 'purchased' the property and secured our own financing, we would not be doing any financing through Platinum.
I saw some posts from 7-10 years ago expressing negative views about Platinum, citing significant losses and poor management practices. Does anyone have any more recent experience with them? Does the pooled property management approach make sense? Our other options are 1) finding a property manager ourselves (which definitely costs more) or 2) managing the property ourselves (which is more problemic due to COVID and the location of the property).
Any feedback - especially about Platinum specifically - would be most appreciated. Thanks!
I saw some posts from 7-10 years ago expressing negative views about Platinum, citing significant losses and poor management practices. Does anyone have any more recent experience with them? Does the pooled property management approach make sense? Our other options are 1) finding a property manager ourselves (which definitely costs more) or 2) managing the property ourselves (which is more problemic due to COVID and the location of the property).
Any feedback - especially about Platinum specifically - would be most appreciated. Thanks!