Did you know that the U.S. housing market is worth $33.6 trillion? If you’re considering investing in real estate, the time is right!
But if you own a rental property, you don’t want to be bogged down. Between fixing toilets, collecting payments, and much more, it can be overwhelming.
That’s where property managers come into play. Then you can focus on watching the money come in passively.
While it might seem tough to choose the right property management company, it doesn’t have to be. Read this guide on how to choose a property management service today!
How Long They’ve Been Managing Rental Properties
You can visit this link to find local property managers. First, you’ll want to be reading online reviews.
After you read the reviews, ask them how much property maintenance experience they have. You’ll want a company that’s been around a while; it means they’re more likely to stick around.
Find a company with decades of experience in accounting, legal, maintenance issues, emergency response, and more.
Ask About Availability
Find out the availability of the management team. Ask them how many properties they have right now and how many workers.
Check contact methods to ensure they work for you. Whether that’s through a portal, by phone, or email. They should use a property management software to get into direct contact with them.
Find Out the Services They Provide
See what specific services they offer. Next, discover what kinds of properties they normally work with. Discuss with them the type of property you have.
Ask how they collect rent and fees for you and the residents. See if they use a full-service property management tool to handle payments. Ask how they handle credit card payments and if they accept them.
Their Renting Process
You’ll want a property management company that can rent your properties fast to trustworthy residents. See what their current vacancy rates for their properties are.
Next, ask about property showings. Some might offer self-guided or virtual tours.
Ask about the resident screening process. Find out what they’re checking for.
Determine how they’ll market vacant units to potential residents. How will they keep good residents in their properties?
Emergency and Regular Maintenance
Find out their rental property maintenance schedule. Ask how they handle emergency maintenance issues.
Check their process of submitting and tracking work orders. Lastly, see if they use vendors to complete their maintenance work and how they choose them.
Tips on How to Choose a Property Management Service
After exploring this guide on how to choose a property management service, you should have a better idea of what to expect. Take your time researching and asking these key questions. It’s a good idea to interview multiple companies to narrow them down.
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