This review is as an owner, not a tenant. I do not...

This review is as an owner, not a tenant. I do not have any experience as a tenant with Lorac, so look to other reviews for information about tenant experiences.

My experience with Lorac Realty & Property Management has been a positive one. Carol and her staff have been very prompt and courteous with their replies whenever I had questions or needed something handled. They have notified me promptly whenever there was an issue with my home that required my involvement. Otherwise, they handle everything about managing my property, which has been a big relief for me as an owner living outside the local area. I haven't received any complaints or had any drama with my tenant to date, so things can't get much better there.

However, if I could take a 1/2 star off, I would. Though that would be more to do with pricing rather than service. I (and I suspect many others) would much rather see one monthly cost for maintaining a tenant that covers everything, even if it was 1-2% of rent higher, than a monthly fee, plus various administrative fees that are charged whenever something out of the ordinary comes up. It is much easier to budget this way. Their base monthly rate is comparable to other companies in the area, but if there are any issues with your property (tenant or otherwise) that will require more of their time than basic processing of monthly rents and the paperwork involved with those processes, be prepared to pay a fee for it. This could be angry tenants, repairs, evictions, late rent, you name it. I could envision a time where a major issue arises with the house or tenant that costs me a lot of money on its own, only to be hit with an administrative fee on top of it for Lorac's involvement, regardless of whether they were significantly involved or not. Fortunately, this hasn't been the case for me, but I am not looking forward to the day if/when this occurs. I am not sure if this pricing model is the standard for the industry, but I have seen at least two companies have an all inclusive model, so I suspect it varies from company to company.

All that being said, I kept this review as 5 stars because one's perception of cost is directly related to how much you value the product or service. I don't live in the area anymore and I don't have time to take care of the property as a landlord, so I will gladly pay for someone else to do it. Other PM companies in the area were extremely discourteous when I attempted to contact them for quotes. One even flat out cut me off with a,"We're too busy to add more homes" statement and hanging up on me! Lorac is responsive, were upfront with all of their pricing and policies and did not pressure me into signing a contract with them. These were things I valued above all else, so I will gladly continue to use them and rate them highly.