What to Look for in a Property Manager
Thursday, April 5, 2018
If you are a landlord and are thinking about branching out, you may have considered hiring a professional property manager. A property manager can connect you with people all across your area, help you out with things around your property for rent, and many other tasks.
Of course, you want to make sure you're finding the right people for the job. This is completely normal and it is crucial for you to ask your potential property manager some questions. Let's take a look at a few potential questions you could ask before settling on one property manager.
How Busy Are You?
One of the most important questions to ask a potential property manager is how much work they've already been taking on. If they have a full workload and then some, there's a good chance they might find themselves extremely distracted by other things. If they're too busy, you might want to consider going with someone else. You need to have somebody who can focus heavily on your property for rent. Hiring a person to take over rental management is a big commitment, and you want to make sure that you won't get stuck doing the work you're paying someone else to do.
Where Are You Located?
If you do not live near your property for rent, it's important for you to find a property manager who does. The rule of thumb is if you live over 50 miles from your units and have more than one property for rent, you should consider hiring a property manager who is local to your properties. The property manager will be in the area at all times and will be able to do the things that you are not able to take care of. This is especially great in case of any emergencies.
How Have You Helped Past Clients?
Find out what skills and abilities the property manager has before taking them on. Talk to them about previous clients and see what work they were able to do successfully. Have them give you some examples and show you some of their work. You want to make sure you're getting the best person for the job, so it's important to ask these experience-related questions.
Hiring a property manager can help you save a lot of time as a landlord. However, it's important to make sure you're getting the best person for the job. Considering that in 2016, the average price of a new home in the United States was over $372,000, it's important to protect your bigger assets. Make sure you ask the questions listed above before taking on a property manager to find out if they're the right person for you.
If you have any questions about property management services please give us a call at 407-261-5610