Do you own real estate that you rent to tenants, but are finding it difficult to manage the properties these days? If so, you'll need to find a property manager to take over the day-to-day operation of the property. Be sure to look for the following qualities before you hire any property management.
Network Of Professional Contacts
It's important to know how to deal with maintenance when you own rental property. You'll either end up doing a lot of the repairs on your own, or end up hiring professionals to do the work for you. If you are the DIY type and like to do the work yourself, you may not have a list of professionals on your speed dial to call to handle the repairs.
A good property manager is going to have a network of professional contacts to use whenever they need help. This ranges from a good electrician who makes electrical repairs at the property to a lawn service that will perform a weekly cut for a fair price. Always ask about the property manager's contacts to ensure that they know who to contact for professional assistance.
Experience With Knowing What Things Cost
A property manager is going to be managing your property and spending your money. You'll want to have someone working for you that knows what things will cost so that they are not paying too much for professional services. This can only be done by having years of experience with managing properties and hiring professionals.
Knowing how much things cost will also extend to the pricing of your rental units. You'll want to get as much money as possible from your property, but not scare away new tenants or stop existing tenants from signing a lease extension. A property manager will help with figuring out how much to increase the price of rent each year to maximize profits and stay competitive.
Easy To Communicate With
Much of the day-to-day operation of your rental property will be taken off your plate, so it can be easy to forget about your property since you are so removed from it. However, you want a property manager that is easy to contact to get updates from about your rental unit. You'll be able to discover how easy they are to communicate with during your initial conversations. Are they easy to reach by phone, or do they exclusively operate by email? Their communication preferences should work for you for things to go smoothly.
