Property management for out of state assets
Building a portfolio composed of class A&B medical office buildings. Most, if not all, of the leases are triple net, so we really only need the basics of PM covered (rent collection, maintenance calls, etc.).
Company is based in the SE, but we are acquiring properties all over the nation-wide. Trying to figure out a solution to property management for the buildings, and these are the options we have come up with so far;
1. Manage these in-house amongst the existing team using cloud-based software such as Appfolio or Yardi
2. Hire a dedicated "property manager" to our team that would be tasked solely with answering calls, tenant relations, accounting and rent collection etc.
3. Partner with a single large property manager with nation-wide reach and have them as our go-to
4. Find different property managers for each geography the properties are located in
If you were in this situation how would you go about it? Apologies if this is vague, just looking for insights from anyone who may have some experience in the realm. Thank you!
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