Can I Hire a Professional Property Manager for My Rental Portfolio?
Yes, you can absolutely hire a professional property management company to manage the properties in your financed portfolio. In fact, third-party property management is common among borrowers with larger portfolios or properties spread across multiple markets. We simply require that the property manager meet certain experience standards before approval.
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No application fees, no tax returns required. Most loans close in 2-4 weeks with competitive rates based on your portfolio.
Manager Approved
Third-party property management is fully allowed and common for larger portfolios.
2+ Years Experience
Property managers need a minimum 2-year track record in residential rental management.
Scale Required
Manager should currently handle at least as many units as your financed portfolio.
Switch Anytime
You can change managers or switch to self-management at any point after closing.
Professional management is evaluated as part of the loan process to ensure portfolio quality
What Are the Property Manager Approval Requirements?
Our underwriting team evaluates the property manager as part of the loan process. The key qualifications we look for include:
- Minimum 2 years of property management experience -- the manager should have a documented track record in residential rental management
- Portfolio scale experience -- the manager should currently manage at least as many units as the portfolio being financed
- Background and reference check -- we review the management company's reputation, licensing, and operational history
- Reporting capability -- the manager must be able to provide monthly income and expense reporting for the servicing requirements of the loan
There are exceptions considered on a case-by-case basis. If a property manager has strong credentials but falls slightly short in one area, we can discuss it during the underwriting process. The goal is ensuring the portfolio will be competently managed and the properties well-maintained throughout the loan term.
Can I Switch Property Managers After Closing?
Yes, but you should notify the loan servicer and provide credentials for the new management company. Since the property manager is responsible for maintaining the collateral, we need to verify that any replacement meets the same standards. Self-management is also an option if you prefer to take over direct oversight at any point.
Property Manager Approval Requirements
- Minimum 2 years of documented residential property management experience
- Currently manages at least as many units as your financed portfolio
- Background and reference check passes lender review
- Capable of providing monthly income and expense reporting to servicer
Have a Property Manager Lined Up?
Include your management company details in your application and we will verify their credentials as part of the underwriting process.
Learn more about how our blanket and multifamily loan programs accommodate both self-managed and professionally managed portfolios.