You own rental property – what an exciting investment! Now you have decided to hire a property manager to help protect your investment and ensure it brings you the greatest possible returns. Rental properties are worth hundreds of thousands of dollars, so deciding to look into property managers is a wise choice. It is also wise to do some serious comparisons with many property managers in the area. What should you look for in a property manager? Knowing the right questions and what to look for will help you avoid making costly mistakes when choosing a property management company.
Experience and Qualifications
Make sure the potential company you are looking at has experience. Don’t shy away from asking boldly how long a company has been in business and what their qualifications are, you should also ask about the support they have and their alliances with other professions within the community. There are a lot of people out there that want to capitalize on people who don’t do their research. Avoid companies that overextend what they can do by focusing on many different things. You want a management company that places managing your property as its most important job, not something they do until the next home sells.
Hire a property manager that has a current and valid real estate sales license. Property management in Cape Cod, which includes renting and leasing activities and rent collecting, is considered a real estate activity. It is important to know and understand the laws and required licensing to manage your property professionally. This avoids costly fees and penalties that can easily be avoided by choosing a management company that knows, understands, and complies with local laws. This being said, a property management company whose primary business is not property management will not be focused on renting your property or running its day-to-day operations, be careful to ask the tough questions and get the right fit. Watch out for a real estate salesperson that claims to be able to do property management. Get this management agreement in writing.
Responsiveness and Communication
We all want to be heard. When we have a question or concern, we want to talk to someone quickly and have issues resolved professionally. It is difficult to conduct business efficiently if your phone call or email is never answered or returned quickly.
Wouldn’t it be nice to be able to access information about your property with an online owner portal? Real Property Management Associates has an online owner portal that allows for more transparent business interaction. You have the peace of mind of being able to know at any time what is happening with your property.
Reliable Maintenance
Proper maintenance for your investment property is important to ensure that you have shorter vacancies and more long-term tenants. It is never convenient to have plumbing problems. No one likes the air conditioner to stop working on a warm summer afternoon. When problems like this happen, tenants are happier when maintenance is fast and reliable.
Owning rental properties is an exciting and profitable investment. Finding the right property management representative is an important member to your team to guarantee your success.
Preserve the Asset, Minimized the Costs, and Maximize your Return.
Call Real Property Management Associates at 508-534-8044.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
My husband and I are looking to find a property manager to help us maintain and take care of a home we want to rent out in another state. We want to make sure that the manager we choose is able to handle any emergencies and will keep us informed. As you mentioned, we will be sure to find someone that will respond quickly to phone calls and emails. Thanks for sharing!
I never realized how important it is to choose a property manager that can provide proper maintenance for your property to ensure your investment is protected. My brother just bought a rental property. Hopefully, he can use this info to find an expert that can make sure it is always full of tenants.
Thanks for explaining how it’s important to check the experience of potential companies and to ask them questions about their qualifications and other things that could ensure they’re the best choice. When looking for a property manager, you’d probably want to create a list of questions you have that you can ask all of them in order to compare their answers. When creating the list, you’d probably want to think about things related to your property and services in order to make sure they can provide you with the management you need.
I like how you pointed out that proper maintenance is a huge consideration to take when finding a property manager. I’d definitely want someone who is dedicated to keeping my property in good shape working for me. What do you suggest as the best way to go about finding someone that fits this criteria?
I like that you mentioned to find a property manager who will be able to communicate with you and resolve issues as quickly as possible. Efficient communication is key to working together. I am thinking about hiring a property manager to help me handle some of my buildings. I will definitely look for these qualities, thanks!
Thank you for all this great information about finding the best property management company! I really like your point that we all want to be heard and get a response as fast as possible, especially when it’s a property investment. My husband and I want to buy an investment home and know that we won’t be able to manage it ourselves. This article has been very informative and we’ll keep it in mind.
There are a few rental properties near my house, and we were curious about how someone would choose a company to help them run it. One thing that really stood out to me is that you say to make sure that the company is quick to respond, especially with tenants. It would be nice to know that you are going to have your problems solved quickly.
I appreciate that you pointed out how tenants are happier when their maintenance requests are fulfilled quickly. I’d imagine that property owners are always looking for ways to make more money. Maybe if they had a property manager who did maintenance quickly, the tenants would be happier and renew their leases, giving the owner more money.
I like how you say that you would want to find a property manager that will supply regular maintenance. It would be good to hire someone who knows how to provide this well. My brother is looking for a property manager, so he’ll have to find someone who provides reliable maintenance.
Communication is one of the biggest things you can look for when choosing a property manager. After all, you need them to communicate with you whenever there is a problem that needs to be addressed. However, you also have to remember that this good communication needs to go both ways as you have to listen to them when they are updating you.
Thanks for sharing! I like how you mentioned about checking experience and recommendations while choosing a property manager. My wife and I are going to move to another state, so we need some professional help in order to manage our property while we are absent. I’ll definitely consider these recommendations organizing our move.
It really helped when you mentioned how you should take the time to look for a property manager that has all the proper and current licenses for the job. I can see that doing this can help you get the best quality care for your property and rest assured your tenants will be taken care of. A friend of mine was talking about how he needed to consult with a property manager, so I’ll share your page with him for help.