What is your typical process for working with a new customer?
1. Set up a meeting at the property, or call, to review the property condition and review our services.
2. Review the market lease rates (if vacant).
3. Review and sign a property management agreement.
4. Receive owner handbook.
5. Complete start-up tasks.
What education and/or training do you have that relates to your work?
Peter received his Bachelor of Science degree in Electrical Engineering from Geneva College in 2007 and worked as a control system engineer for six years. Peter left engineering behind in 2013 to found RL Property Management Group. Peter’s leadership as CEO has taken RL Property Management from 0 to over 300 units under management in two years. There, a team of nine full-time employees processes a rent roll of over 3MM/yr for 90 clients. He also obtained his real estate broker’s license in 2015, and recently took an adjunct instructor role at Hondros, a local real estate college. Peter regularly attends national property management conferences to learn from and network with management company owners across the US.
nt in the State of Ohio.
Do you have a standard pricing system for your service? If so, please share the details here.
Our standard pricing is $99/mo per unit, with no charge for leasing/tenant placement. We offer discounts for multi-family properties over 8 units.
How did you get started doing this type of work?
When I first started investing in real estate in Columbus, back in 2008 while still working as engineers, my business partner and I looked for a property management company to handle our rentals. However, we could not find a property manager we liked and so decided to manage them ourselves. Being engineers we developed some systems and processes to do this, and over time we heard from other investors that they either did not like their current property management company or could not find one they liked. This sounded like an opportunity and so we became licensed, quit our jobs in 2013 and started RLPMG. The company has grown steadily ever since.
What types of customers have you worked with?
We work with three primary types of customers:
1) Seasoned local investors who own one or more rental properties, who are looking to expand their holdings and/or step back from the day-to-day management to focus on their career or retirement.
2) Homeowners who are moving away and are unable (or have no desire) to sell their home, and would like to rent it out for an extended period of time (2+ years).
3) New investors just starting out, who either live out of state or have no desire to deal with tenants and other headaches.
Describe a recent project you are fond of. How long did it take?
Recently we started experimenting with full-time AirBNB units (short-term rentals), including one located in Olde Towne East which has enjoyed good occupancy levels. This is not something we are currently offering to customers, but we have enjoyed the challenge and may offer this in the future once we feel that our company has a good system in place for effectively managing them.
What advice would you give a customer looking to hire a provider in your area of work?
1) Check for hidden fees.
2) Ask how their employees are compensated and if they are doing sales activity also.
3) Try to determine if they have experience with your property type.
What questions should customers think through before talking to professionals about their project?
1) What are your goals for the property?
2) Do you have funds for capital reserves (things like HVAC or roof repairs)
3) How much involvement/communication do you expect from the manager?