6 Tips in Choosing a Property Management Firm

Posted: December 5, 2011 in Real Estate Tips
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Are you looking to rent out your property in the market? Here are a few tips to help you find the best property manager for the job. Try to find someone who acts on your best interest without robbing you off the bank.

Watch the cost.

There are plenty of companies who will charge you for a week’s rent on top of their five to ten percent service charge whenever a tenant decides to move in. If you have a six month lease period for new tenants, then you could end up paying two weeks worth of rent to your agent annually. It is crucial that you analyze the offers that you get from property managers before even hiring them.

Check for professionalism.

How does the staff treat you when you enter the office? Are they putting on a good impression? Is the staff courteous and friendly? Are they well informed about the different property management procedures? There are some property managers who display little know-how and the lack of procedures when you set foot on their office.

Check for market knowledge.

Make sure you hire a property manager who is familiar and knowledgeable about your city or town. You may want to get someone who already established a good relationship with a pool of tenants. If they are aware what the tenant wants, they will most likely match your home with the right individual who will reduce the potential for complications and issues in the future.

Ask your agent for an appraisal.

A rental property appraisal is a free service that most real estate agents can provide you. Agents can look at your property and appraise it before you put it up in the rental market. A good property manager should be able to provide with a written quote, a summary of all fees and charges and the required documents for you to secure.

Find an agent who is readily available.

Another important aspect that you should consider in hiring a property manager is to find someone who will likely stick around. Customer support is the key in ensuring long term business relationships. It is pretty hard to keep respect and trust upstanding if you always end up dealing with an office apprentice for months down the track.

Meet and greet your property manager.

Make sure you meet your property management agent in person before even signing a contract. Read and understand all legal implications of the deal, including costs and the expectations placed on you.

Investment properties are supposed to earn you money, and not cost you overtime. Find the right property management company that will spare you from all the money and headaches. Try to give each offer respect and due care and then decide which property manager works best for you.

 

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Comments
  1. homeowner24 says:

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  2. This is insightful post about property management tips. Looking awesome on web. I can say this post will definitely beneficial. Your tips are valuable.
    Thanks for sharing

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