A nationwide survey of nearly 3000 reviews of property management companies showed that property managers receive 30% lower ratings compared to all other industries. Why is there such a significant drop in scores for property managers?
The overwhelming majority of online reviews for property management companies are written by tenants. Very often the reviews are focused on lost security deposits and other financial responsibilities a tenant has to the property.
Remember, a property manager has two different types of customers, tenants and homeowners. We try our best to take care of our tenants (and our 4-stars shows we are succeeding!) and we also have a fiduciary responsibility to our homeowners. It is our job to protect a homeowners investment. We must maintain the home with care, and also make smart financial decisions so that the property continues to be a good investment for the homeowner.
Tenants will write negative reviews because they did not get the full security deposit back and applicants will post a one- star rating because their applications were denied. If we always did what the tenants wanted we would have higher scores, but it would not be a responsible way to manage a property and it would come at the expense of the homeowner.