If you are a property owner with rental properties, you may be considering your options when it comes to hiring property management services. Not every property needs a property manager, but hiring the right property management service can significantly increase the efficiency of your enterprise. There are a few things you should take into consideration before hiring, such as:
- How much experience does the property management service have? If you are new to owning rental properties, you probably don’t know a whole lot about managing them. Hiring an experienced property management service can alleviate much of the struggle. Property management services should know a lot about real estate marketing and keep your units rented at all times. They should also have a talented and efficient repair crew to maintain the property.
- Management Skills. Property management services must have the ability to multi-task, as they are required to manage tenants, complaints, vacancies and maintenance issues of each individual property, as well as interview and screen tenants. Not all property management services are created equal, and you will want to do your research before hiring.
- The property management services you are considering should have a well-defined fee structure. Compare the services you are considering side by side with regard to the services they provide and the fees they charge. The cheapest company isn’t necessarily the best option for your situation. Management fees, vacancy fees, set-up fees and leasing fees are all different ways the property management service makes money, and you want to be sure you understand how each company operates.
- Do an online search or speak to other landlords about who they recommend when it comes to property management services.
If you are in need of property management services, please give us a call at Property Valet today!