Things to Look For When Picking a Property Management Company
Whether you are new to the investment property scene and looking to establish a relationship with a reputable property management company or you are fresh from a bad experience with one and searching for something better, it is very important that you take some time to do your research. A good property management company is trustworthy, organized and experienced in working with both property owners and tenants.
Here are some of the things you should look for when picking a property management company:
In many ways, entering into an agreement with a property management company to handle your investment property is like going into business as partners. Both parties should have the same basic goals and focused on the same results. You’ll want to find a company that communicates clearly and as often as you deem necessary. If they are difficult to reach or you feel that they are not forthcoming with details regarding contracts and agreements, they may not be a good fit for you.
Check Out Their Current Listings
You can learn quite a bit about a property management company by taking a look at the properties they currently manage. Take some time to visit their website and see how properties are being represented. What can you learn from the photographs of other rental properties on their site? Do they look clean and well cared for? How are they advertising these properties? Is the information clear and easy to understand?
Ask for Referrals
As you begin to narrow down your list of potential property managers, be sure to ask around for referrals and for references. Find out what others in the industry are suggesting. Talk to other property owners and local real estate agents and ask who they have had success with.
How Will Maintenance and Repairs Be Handled
One of the benefits of hiring a company to manage your property for you is that they can handle maintenance and repairs as needed. It’s important that you understand exactly how those repairs will be taken care of. Does the company have their own maintenance crew? What types of repairs are they equipped to handle? Which contractors do they work with? You can actually learn a lot about a company by asking these types of questions.
In addition to the points above, you may want to ask some of the following questions as you interview property management companies:
· Will I receive monthly or quarterly statements that list income and expenses?
· How does the company handle evictions?
· What type of advertising do they use to keep properties consistently occupied?
· How will you receive your rent each month?
If you are looking to make the most of your investment property, trust the experts at Real Property Management Evolve Tucson Tucson. Put our years of knowledge and expertise to work for you.