Property managers are professionals who oversee the leasing, maintenance, and financial management of rental properties. They’re hired to help relieve landlords of these tasks, allowing them to focus on other aspects of their business or personal life. Thus, property managers are beneficial for those with a lot of properties or anyone who wants to ensure that their tenants get the best service possible. Unfortunately, finding the right property manager isn’t always easy.
With a few key tips, though, you can significantly increase your chances of selecting the best property manager for your needs.
When it comes to jobs where experience gets the job done, property management is one of them. It takes years to accumulate the knowledge and expertise necessary to be a successful property manager, so it’s important to prioritize experience when selecting your candidate.
Imagine what could go wrong if you hire an inexperienced property manager; from tenant disputes to legal issues and more, it’s simply not worth the risk.
To check for experience:
- Ask for references and contact them
- Check to see how long they have been in the business
- Ask if they’ve ever managed a property similar to yours (in regards to size, location, etc).
- Ask legal questions specific to your state. For example, if you’re considering an associate from an Austin property management company, pose scenarios based on something like Austin tenant rights
Look into Their Reputation
A property manager’s reputation is a direct reflection of their service. For example, if they’ve been in the business for years but still haven’t earned any awards or recognition, then it’s probably best to look elsewhere. Similarly, if they’ve got a history of complaints from previous landlords or tenants, it’s best to stay away.
To check for reputation:
- Check online reviews on sites like Yelp and Google
- Ask around in the real estate community (real estate agents, other property managers, etc)
- Ask to see their portfolio of past properties they have managed, and contact the landlords/tenants for feedback
Consider Their Professionalism
Professionals are expected to act in a certain manner, and property managers are no different. You want a property manager who can interact with tenants and landlords in a professional and respectful way.
This includes responding promptly to tenant inquiries, resolving disputes quickly and fairly, negotiating with vendors for the best deals, keeping accurate records, and much more.
To check for professionalism:
- Ask them relevant hypothetical questions during the interview process
- If you’re working with a property management company, how do they train their employees?
- Request to speak to some of their current tenants or landlords for feedback about their professionalism
- Ask for proof that all laws and regulations are being followed
Choosing the right property manager is an important decision. By following these tips, you can make sure that you’re selecting a professional who will effectively manage your rental properties and keep everyone involved happy.