Many real estate investors need a day-to-day operations manager to ensure their property is held to the highest standards possible. The problem is, many investors don’t know where to start finding a property manager that fits their needs. How do you pick the right management services?
How do you find a property manager?
Finding a good property management company can be daunting, but there are some tips for finding the right management that we can share with you. Here is a basic checklist that will help you in your search for a property manager.Finding a good property manager can be daunting, but we have some tips for finding a property manager in the following blog post! Click To Tweet
- Referrals Are Essential
- How Do They Manage Their Advertising?
- Check Their Qualifications
- Lay Out Your Expectations
- Look At Their Tenant Contract
1) Referrals Are Essential
The first thing to do when starting to look for management services is to ask for referrals. The company that sold you your investment property should have some wonderful referrals if they don’t do it themselves. Bran Real Estate Services offers our property management services, so when our clients are looking for management we offer our services.
2) How Do They Manage Their Advertising?
Once you have a few referrals, you should look at how the company handles advertising for vacant properties. If they advertise well, that can be a good sign that they care about whether your property has tenants. Ask questions like where they advertise, what does their website looks like and does their current target audience matches the tenants you would rent to.
3) Check Their Qualifications
The next step is to check their qualifications. What is their background in property management? How long have they been doing this, and how did they get into this business? These questions are important for property owners to know so they will allow you to better judge if they are a good fit for your property.
4) Lay Out Your Expectations
Once you have picked your management company, it is essential to lay out your expectations for their services. Explain to them how involved you would like to be in the management process, and what you expect to be their responsibilities. Doing this will allow both you and your management team to start on the correct foot.
5) Look At Their Tenant Contract
Finally, look at the contract they give to a new tenant. You will want to know whether or not they ask for a security deposit, how they collect rent, and other normal procedures that come with managing a rental property. That way, you know what to expect with this property management company.
Pick the Right Property Manager
Hiring a property manager can be daunting, but it is doable. We advise you to follow these five tips when looking for the management team that works best for you.
Contact us for more information on finding the right property manager for you!