Author Topic: Renters Warehouse?  (Read 2434 times)

zsmith

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Renters Warehouse?
« on: January 17, 2016, 02:10:16 PM »
My husband and I are looking to rent out our one-bedroom condo sometime in the next year, and will need to have a property manager. Anybody have experience with Renters Warehouse? Is it a good deal or are there more cost-effective solutions.

A few more details:

Condo is underwater so selling isn't an option right now. We also have a six month old so staying here much longer is going to be a tight situation.
We are moving out of state so self-management will be difficult.

CashFlowDiaries

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Re: Renters Warehouse?
« Reply #1 on: January 21, 2016, 04:07:29 PM »
Ive only ever dealt with local property managers.  They are a national provider and I have never heard or met anyone actually using them.  I would try and get first hand referrals from people who have actually used them and I would contact 2 or 3 local PMs in the area and interview them.

zsmith

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Re: Renters Warehouse?
« Reply #2 on: January 22, 2016, 11:38:19 PM »
Thanks! I'll see if I can find some local referrals.

Laura

zoltani

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Re: Renters Warehouse?
« Reply #3 on: January 27, 2016, 01:54:47 PM »
IDk why but something about their commercials I hear on the radio sound scammy, but it is probably fine. Looking at their pricing structure for my local area they charge $99/month for 1 unit. If your place will rent for more than $1000 then this may be a deal because I get charged 10% a month. If the rent is only $700 then you would be over paying IMO.




SomethingFishy

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Re: Renters Warehouse?
« Reply #4 on: January 27, 2016, 07:00:33 PM »
We dealt with them as tenants and had an awful experience. The rental agent was late to every appointment I scheduled with him. He gave me factually incorrect information about the property, that led me to make a sub-optimal decision. When we escalated, even his management agreed he hadn't done his job well.

Without getting into too many details, there were additional issues with an un-enforceable agreement. Management was nice but couldn't resolve the issue and we wound up with the choice of walking away from several thousand dollars or spending about that much to take everyone to court. I wouldn't rent from or with them again, nor would I recommend them to others. 

NoNonsenseLandlord

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Re: Renters Warehouse?
« Reply #5 on: January 30, 2016, 06:17:36 AM »
They are just a bunch of independent realtors.  It depends on who you get.

I had them help me fill a 4-plex.  They brought in 2 tenants.  One got laid off ~9 months after he started, they were great tenants, but ended the lease early.  the other set was a bunch of college potheads.  They got evicted after ~4 months.

The replacement tenant did not last either.

If you know what you are doing, it works.  if not, learn.  Use them for grunt work, not expertise.  Contact me on my blog if you need help.
« Last Edit: January 31, 2016, 08:21:45 PM by NoNonsenseLandlord »

zsmith

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Re: Renters Warehouse?
« Reply #6 on: February 19, 2016, 09:40:36 PM »
Thanks for all the insights! We'll definitely be in touch for more help, as we move forward.