Mynd Property Management
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Author: Kaitlyn Short
Mynd Property Management is a rental management company based in Oakland, California. Mynd Property Management manages more than 7,000 rental homes in 25 markets, including in the Bay Area, Southern California, Sacramento, Washington, Arizona, Nevada, Florida, Colorado, Texas, Oregon, North Carolina, and Georgia, with more to come.
Invesco Real Estate was the lead investor in a $40 million financing round for Mynd Property Management. With that investment, Mynd is set to become the largest buyer of single-family rental homes in the United States.
The Good
- Pricing
- Rental Income Protection
- Available Markets
- Customer Satisfaction
- Referral Program
- Online Services
Pricing
Mynd Property Management offers three different plans, each of which includes all of the company’s services. No matter which plan a customer chooses, Mynd Property Management will help them find renters; provide a network of vendors for repair and maintenance purposes; and maintain information on the property’s service requests, lease applications, and rent collection. The only difference between the plans is the amount of pet damage protection, eviction protection, and rental income protection. The listed pricing for each package is the full price; there are no additional, hidden fees.
Rental Income Protection
The Peace of Mynd Plan includes $5,000 of rental income protection in case a tenant can’t pay or a property remains vacant. This rental income protection keeps a rental owner’s income steady, even when there are obstacles along the way.
Available Markets
Mynd Property Management manages more than 7,000 rental homes in 25 markets, including the Bay Area, Southern California, Sacramento, Washington, Arizona, Nevada, Florida, Colorado, Texas, Oregon, North Carolina, and Georgia.
Additionally, Mynd Property Management has plans to expand into Indianapolis, Memphis, Birmingham, Jacksonville, and even more cities.
Customer Satisfaction
According to the data provided by the Mynd Property Management website, the company’s customers, whether owners or residents, experience higher satisfaction than customers of other management companies.
Mynd Property Management boasts a higher-than-average resident quality score, with less than 2 percent rent delinquency. Additionally, Mynd leases properties faster than other companies on average, and the company responds to owners within four business hours, and residents within eight business hours.
Referral Program
Mynd Property Management customers can refer others to the company to receive a referral bonus. After the referred person signs a management agreement, the referrer will receive $300 in their property’s operating account.
Those interested should note that the terms of this offer may change based on the state, and it is not available at all in Oregon and Washington.
Online Services
The Mynd Property Management website hosts several free, helpful tools. One is the rental return calculator, which helps rental owners figure out how much income they can generate with a rental property.
The website also lists properties available for rental owners to invest in, as well as rental properties available to rent.
The Bad
- Limited Availability
Limited Availability
While Mynd Property Management is available in 25 markets across the United States, with more to come, it still isn’t available in many areas. For example, the company doesn’t offer its services in any Utah markets.
The Bottom Line
Mynd Property Management helps rental owners find tenants, maintain their properties, and manage their finances. The company is poised to become the largest buyer of single-family rental homes in the United States; it currently manages more than 7,000 properties in 25 rental markets across the country.
A major advantage to using Mynd Property Management is that its plans aren’t complicated; each one includes all of the services the company provides. Pricing varies by location, but there are no hidden fees — the listed price is what customers will pay. The only difference between the plans is that the cheapest offers only pet damage protection; the mid-tier plan offers pet damage protection and eviction protection; and the most expensive plan offers pet damage protection, eviction protection, and rental income protection. The $5,000 of rental income protection keeps a rental owner’s income steady in case they can’t collect rent, for whatever reason.
Mynd Property Management customers, whether owners or tenants, are more satisfied on average than those of other management companies. Mynd Property Management responds quickly to owner and resident communications. Furthermore, rental owners will be happy to note that the company has a rent delinquency rate of less than 2 percent, and it leases properties faster than other companies on average.
Depending on their state, customers who refer others to Mynd Property Management may even be eligible to receive up to $300.
Additionally, visitors to the Mynd Property Management website can access a variety of free tools, including listings of rental properties available to rent or buy, and a rental return calculator that can help owners figure out their income potential.
While Mynd Property Management is available in many markets, with plans to expand into more, there are also many places where the company’s services aren’t available. Those who are interested in Mynd Property Management should ensure that it’s available in their area.
For those who live within the areas Mynd Property Management serves, the company is an option worth considering.
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nick levis
1 year ago
