Tips on Finding a Property Management Company
It is very challenging as well demanding to manage a rental property. It requires both time and attention, something that might not be possible in case you have other busy schedules somewhere else. It is therefore important for you to find a property management company to handle this task on your behave. The following are some of the factors that you should consider when finding the best manager for your property.
The initial that you should consider while finding the best property manager is find someone who owns such facilities himself. This is essential since you are sure that they understand this kind of business operations as they are also landlords somewhere else in their properties. You can as well hire a manager who may not necessarily own a property but is well acquainted about the operations of this kind of business.
The second thing that you should consider in finding the best property manager is finding out how many properties they are managing at that specific time. You should find out whether the manager has other properties at the moment that they are managing. It is important to contact referrals on the other properties that the manager is in charge and find out if they are well maintained. You can contact the property manager to run your facility if you find out from a referral that their services are good.
The third factor that you should consider is the property management fee. The management fee charged is dependent on the amount of task the manager is to do in your facility. You should keep in mind that the standard charge for the property managers is usually 8-10 % of the rent paid monthly. However, it is always important to ensure that you pay your property managers well so that they are motivated to deliver quality output.
Another consideration when finding the manager for your property is their accessibility. It is essential that you hire a manager who you can access at any time when you want him. You should ensure that there is efficient communication means between you and the manager at any time of the day. There should also be proper communication with the manager you are about to hire on days where they are not around.
The last critical aspect you should consider when finding the best property manager is their ability to screen tenant as they apply for a house. In order to find out about the credit histories and backgrounds of your tenants, your manager should do a property screening of all the tenants.