Expertise.com

Best Property Management Companies in Troy

2024

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  • Licensing
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Property Management Companies FAQs 〉

Providers

Last updated:

Website
15501 Metro Parkway, Clinton Township, MI 48036
  • Maintenance
  • Marketing
  • Collection
  • Leasing
  • Accounting Services
  • Tenant Screening
  • Property Inspection

Why choose this provider?

Great Lakes Property Management Co. has offices in Troy and Clinton Township. It has been managing residential, commercial, and office properties in the Tri-County Area market for 15 years. The company aims to provide its clients with quality tenant placement, eviction protection, and satisfactory service. Its property maintenance service extends to owner-requested demolitions and renovations, as well as major damage remediation in case of fire and other emergencies. Both owners and tenants can opt for 100% paperless transactions through the company's online portals.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.8 / 5 (16)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
––

Website
111 Cass Avenue, Mount Clemens, MI 48043
  • Marketing

Why choose this provider?

Key 3 Property Management Group is a full-service property management firm near Troy. The company markets vacancies on Craigslist and The Multiple Listing Service. Its managers work with brokers, associate agents, and leasing specialists to help in finding qualified tenants. The firm has a team of local handymen and a network of contractors that help address repair and maintenance concerns. Key 3 Property Management Group also handles basic management tasks such as rent collection, financial reporting, and property inspection.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.7

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
12345 Twelve Mile Road, Warren, MI 48093
  • Tenant Screening

Why choose this provider?

Located in Warren, Champion Property Management serves clients looking for property managers in Troy. The company strives to provide excellent property management services to owners and investors in the Tri-County area. To help ensure a hassle-free rental relationship between owners and tenants, the company prioritizes high-quality tenant placement from the very start. Champion Property Management is owned by James T. McKee, Jr., a Certified Residential Specialist with over 25 years of residential property management experience.

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
38770 Garfield, Suite 120, Clinton Township, MI 48038
  • Maintenance
  • Collection
  • Accounting Services
  • Property Inspection

Why choose this provider?

Property Management Experts provides professional property management services for landlords in Macomb County and nearby areas, including Troy. The firm provides a full range of services, from vacancy marketing, property showing, and tenant screening to move-in and move-out inspections and lease renewal. Sheryl Young, broker and realtor of Property Management Experts, has been managing properties for two decades. She has completed courses on fair housing and has attended landlord forums as a speaker and as a guest.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8

Frequently Asked Questions

  • What is property management?

    Property management is the business of controlling and overseeing real estate, including residential and commercial rental properties. These professionals handle general maintenance and day-to-day operations on behalf of the property owner. They’re responsible for marketing properties, finding and screening tenants, collecting rent, and preparing units between leases. They may also handle repairs, evictions, and any problems that arise.

  • What does a property manager do?

    Professional property managers perform critical tasks throughout the leasing life cycle, from preparing a rental property, through tenant move-ins and move-outs. They can also provide referrals for legal advice, home repairs, and services that aren’t covered by the management agreement. Here are some of their key responsibilities:

    • Marketing and listing vacant units
    • Processing applications and screening tenants
    • Conducting quarterly and annual inspections
    • Orchestrating move-in procedures
    • Coordinating maintenance and repairs
    • Collecting rent and applying penalties
    • Conducting move-out inspections and returning deposits
    • Handling evictions and posting quit notices
    • Complying with fair housing regulations
    • Compiling monthly expense reports
    • Preparing annual tax documents

  • How much do property management companies charge?

    Property management fees can vary substantially depending on the size of the property, number of units, and scope of service. Property owners can expect to pay one month of rent to fill vacant properties and 10% of the gross cash flow to manage the property. Investors should also account for monthly maintenance, contributions to a reserve repair fund, and early termination fees if they decide to cancel the property management contract. Evictions and other non-routine services typically cost extra.

  • How do I manage a rental property from out of state?

    Managing a property isn’t easy, and the job is even more difficult for out-of-state landlords. Thorough tenant screenings are the best way to prevent many common problems. Landlords should also maintain strong relationships with neighbors who can alert them if anything goes wrong. Investors who prefer a more hands-on approach should consider hiring a property manager to represent their interests.

  • Does a property manager need a real estate license?

    Yes, in most states, property managers must have a real estate license to advertise rentals, show properties, sign lease agreements, collect rent, and perform other fiduciary activities. A community association manager license or similar certification may also be required for professionals who want to work for an HOA or apartment complex, although this credential is optional in most states.

  • How do I find a good property management company?

    Property managers differ significantly in their approach and level of expertise. It’s important for owners to screen potential candidates to ensure that they're choosing the most qualified professional. Here are a few questions to ask during the interview:

    • How many units do you manage?
    • How big is your staff?
    • Do you have a maintenance crew?
    • How long does it take to fill vacant units?
    • What happens if my tenant doesn’t pay on time?
    • Have you ever filed an eviction?
    • What type of communication can clients expect from you?

  • Do property management companies find tenants for rental properties?

    Yes, finding tenants and filling vacancies are key responsibilities for property managers. These professionals are responsible for advertising the property, and they handle all inquiries, applications, and showings. To find the most qualified tenants, managers perform background and credit checks, verify references, and confirm the applicant’s employment information, which can prevent problems and extra costs down the road.

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