Factors to Consider When Finding Best Property Management Company
The process of managing a rental property is not an a walk in the park. You might not be able properly manage your property because of the busy schedule that you always have somewhere else. It is therefore important to find a reliable property management company that you can trust for this task. The following are some of the factors that you should consider when finding the best manager for your property.
The first that you should do when finding the best manager for your property is finding someone who is a landlord for such properties. Finding a property manager who doubles to be a landlord is essential as you are assured that they have an understanding of this kind of operations. In case you come a across a manager who is experienced and skilled in the management of rental properties, you can give them a chance to take care of these assets.
The second aspect that you should consider the number of other properties that they are managing at the specific time. You should find out whether the manager has other properties at the moment that they are managing. Determining the level of services and maintenance of other properties under the care of this manager will help you in making your decision. If you find them to be still in good condition, then it means that you can entrust your property to this manager too.
The third important thing that you ought to consider when finding the best property manager is the management fee. Different property managers will ask for different fees depending on the amount of work that they are supposed to do. However, you should be aware that the standard rate is often 8-10% of the total rent collected from the property. However, it is always important to ensure that you pay your property managers well so that they are motivated to deliver quality output.
The accessibility of the property manager is another factor that you should consider when finding the best person for the job. Hiring a manager who is easily accessible is a plus for you as you can reach anytime need rises. 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 ability of a property manager to screen tenants before access into settling in your property is also very important. 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.