As you grow your business and become the landlord of multiple properties, you may feel it’s time to start seriously looking into a property management company that can help you maintain and find tenants for your properties. When you work with competent professionals who have experience maintaining various types of properties, you’ll find that your workload is lessened and your profits maximized. However, if you end up with a dud or someone who lacks experience, it can cause far more headaches than it’s worth.
Find the Right One for You
This is why you should do proper research and follow a few choice steps to ensure you’re working with a property management company that will do right by you. We have a few general tips for you:
- Ask people you trust for referrals. Always a good bet!
- Consider local companies familiar with your area.
- Do your due diligence and read up on the company’s reputation.
- Conduct interviews to see who you click with and get professional vibes from.
Stick with these tips and you’ll be well on your way to finding a qualified manager you can trust. Referrals are likely your top source for reputable management companies, especially if the people you ask are also landlords with experience working with multiple properties. You should keep their recommendations at the forefront of your mind, but don’t be afraid to ask additional questions. You may want to consider what types of properties they own and whether you have comparable properties.
Your next step is to cross-check your referrals with local companies who work with buildings in the area. These companies will know your local market best and likely have contacts already when it comes to knowing the best way to fill your properties with reliable tenants. They’ll know how to market, who to market to, and how to ensure your units stay filled if at all possible. Property management professionals will also know your local competition and account for them so you see the benefits.
Do the Research
Before signing with a company and trusting them with your property management, you’ll want to do some additional research on your own. You can often rely on personal referrals, but even so, it’s a good idea to do some extra work on your own to check online reviews or professional site details to get a more well-rounded picture of who you’ll be working with. Speak directly with the people who will be managing your property along with their superiors so you can get a personal feel for their personality, work style, and more. They should be friendly and professional, as well as give you the sense that you’ll be in good hands.
When you do find property managers you can trust, you can support them with a tenant screening service that will help match your units with the best possible tenants. We recommend our RentalConnect program as an added tool for selection the right tenants for your property. RentalConnect offers property owners and landlords a great alternative to the expense of full tenant screening. This service requires no on-site visit, sign-up, or membership fees, making it extra convenient, especially for those with less experience in property management. The $34.95 service fee is paid by the applicant. Available 24/7, RentalConnect is fast, easy, secure, and delivers reports needed to make an informed decision, including a credit report, a national criminal search, and a national eviction search.