Top 5 Factors to Consider When Choosing Property Management Services
You saved up for years and years, and now you finally have the keys to your investment property. That’s no simple feat!
And for this reason, choosing property management services is a big deal. You want your investment properly cared for, so you need to find a company that will take the job seriously.
Keep reading for five tips when it comes to selecting the best property management service.
1. Services Offered
While you may only have one service in mind that you currently need, it’s always possible that you’ll desire another related service in the future. And you don’t want to have to worry about finding a new property management service when you could choose one from the beginning that has it all!
Find out which services each company offers, from tenant screening and marketing properties to collecting rent and maintaining properties. Oftentimes, their available services will be listed on their website. But if you’re unable to find a complete list, contact the property management service to find out.
This is one of the most important aspects to consider when sifting through property manager options.
The majority of states require some type of licensing to be a property management service. Most companies will display this information on their website, but if you’re not sure whether you’re looking at a licensed property management service or not, it’s always best to ask.
3. Company Reviews
These days it’s easy to find reviews about companies online, and they’re a useful resource in discovering the pros and cons of each of your options.
Read through reviews from past clients that are posted, or even ask the company for references so you can get a better idea of what working with them would be like.
Just remember, when reading online reviews, look for the overall tone and don’t get bogged down by one or two specific reviews.
4. Property Management Experience
If the property management service doesn’t have much experience, it’s much more likely that negative situations may arise or you may be unhappy with their service.
Find out how long the company has been in business, what they specialize in, and whether they’ve worked with many other properties like your own. You want someone who has lots of experience under their belt so you don’t risk losing money.
5. Pricing and Fees
It’s common to choose a service based on pricing alone, but just because a service offers the lowest pricing doesn’t mean they’re a good choice.
When it comes to pricing and fees, the more research you do, the better. Check out different websites to start comparing property management fees, requesting a quote from each one if their prices aren’t listed. Then you can compare each of these prices, taking into consideration what comes with each fee (such as services that are offered).
Choose a company that has reasonable pricing, but that will also give you the best service possible.
Choosing Property Management Services Doesn’t Have to Be Complicated
There are lots of options out there for choosing property management services, but they won’t all offer you the same experience. By doing your research and comparing each company, you’ll find the one that’s just right for you.
Check out the rest of our site for more helpful property information, or even start your journey to finding the perfect real estate agent.