Signs of a Good Property Management Company
For property owners who are looking to earn money off of a residential or commercial building, it’s important to find a property management company that is qualified to find the right tenants and also manage repairs. This can save a significant amount of time and avoid complications during the process. When looking for a good property management company, there are a few factors to identify to ensure that your home or building is managed well throughout the year.
A Website That is High in Search Results
As a property owner, it’s important to hire a property management company that has a website that comes up high in the search results on the Internet. If the company that you use is easy to search, it’ll provide your property with more exposure with finding the right renters when leases end. The property management website design should also be updated and easy to navigate to ensure that potential renters can easily find your listing.
Experience with Your Niche Property
You’ll want to find a company that has experience with the type of property that you’re looking to rent out to ensure that they’re qualified to manage repairs and maintain the grounds. If you’re wanting to rent out an apartment complex, avoid using a company that only has experience managing single family homes.
Strong Communication Skills
It’s important to remember that the property management company that you hire is working for you and should be able to communicate effectively when it comes to managing your property. Look for a company that is capable of communicating over the phone and via email without taking too long to get back to you. They should be easy to get ahold of when you have a question or if a problem arises with your property for a high level of reliability that you can trust.
Offers a Variety of Services
The best property management companies are those that offer a range of services to their clients to ensure that you don’t have to do all of the work yourself after hiring them. They should be able to manage rent that is paid by the tenants, change air filters, and make repairs. They should also offer it all at a fair cost to ensure that you continue to make a profit from renting out the space. Most companies charge between seven and 10 percent for their services. The company should even be able to manage the services with ease without having delays or complications, which can put you at risk of losing your tenants.
The company that you hire should be willing to provide you with reports before the sixth day of each month, in addition to the rent that is paid to you. When you interview the property manager, check to see if they can provide samples of the output reports that you’ll be provided with. If they don’t have any software to provide this, then it may affect your profits and cause them to suffer.
Fast Response Time
The best property management companies have a fast response time with repairs or maintenance that is needed on a property. Once tenants report issues, the company should respond within 24 hours and perform the work in two to three business days to ensure that your tenants are satisfied.