Once you invest in a real estate property, you'll quickly realize how important it is to work with a local property management company. Quality property managers can offer a ton of benefits to you and make your life as a real estate investor infinitely easier.
However, not all property management companies are created equal. It's important to do your due diligence when searching for a company to work with, so you can move forward knowing your rental property is in good hands. But how do you know which is the best property management company?
Keep reading for some tips to help you find the best property management companies in Clearwater, FL.
Do you have any friends or family in the Clearwater area that have invested in real estate?
It's a great idea to ask for recommendations from your peers or to simply listen to their experiences. They can give you a first-hand account of what it's like to work with specific companies in the area.
While it's not always best to base your decision solely on other's opinions, it can give you a nice jumping-off point in your search for the best property management company.
Look for Experience
Experience is essential in any field of work, but even more so in property management and investment services. This is because your property manager needs to have a deep understanding of the local market and real estate trends. With that knowledge, they will know the value of your rental property and be able to price it accordingly to get you the best ROI.
An experienced property manager has also had to deal with just about everything that could go wrong with a property or with tenants. This gives them the knowledge to be able to handle crisis situations much more efficiently than a brand new company with no experience.
Check Online Reviews
Did you know that 84 percent of people trust online reviews as much or more than personal recommendations?
Online reviews can give investors a better idea of what a company's strengths and weaknesses are. If a company has an average of one or two stars, it might be best to avoid that business.
When looking at a company's reviews, it's a good idea to jot down some of the negative stuff you read so you can talk to the company in person about those concerns. Sometimes, people leave bad reviews even when the company was not at fault. So if you feel good about a company and notice a couple of bad reviews, you should consult with them in person to see if it's a legitimate concern.
Set Up an Interview
Once you've narrowed down your search, it's time to meet with the property management company in person. After all, you are tasking them with caring for your investment property, so you need to make sure you're on the same page.
During the interview, make sure they go over their fee structure, the services they offer, and what sets them apart from other local companies. Also, be sure to voice any concerns or worries you may have so you can move forward feeling confident.
If you're unsure of what to ask during your meeting, check out this blog for some important questions to ask a property management company.
Go with Your Gut
After gathering all of the information you possibly can, it's time to make your decision.
In the end, as with most decisions in life, it's best to go with your gut. Oftentimes, you will know which company aligns with your values and needs when you meet them in person.
You will be working with this company for years to come, so it's important you feel good about the professional relationship and you know they can be counted on to do their best and take care of your properties.
Ready to Find the Best Property Management Companies in Clearwater?
With these tips, you'll be able to find the top property management companies in Clearwater, FL that'll make real estate investing and renting a complete breeze.
Here at Professional Real Estate Management and Investment Services Inc, we believe we check off all of those qualifications. With nearly 20 years of experience in the Clearwater area, we know the local real estate market more than anyone.
If you're interested in learning more about or property management or investment services, please contact us today and we'll be happy to answer any questions you may have.