Investing in real estate is one of the best ways to secure your financial stability for the future. You can make huge profits from your property just from long-term appreciation alone.
However, investing in real estate is a lot more than just purchasing a property and letting it accumulate more value. You also need to keep the property in good shape and find quality tenants to rent to.
These tasks can quickly pile up and become a full-time job for an unsuspecting investor. That's why you need to work with the best property management company that can care for your property and handle all of the day-to-day tasks.
But how do you find a real estate manager that can meet all of your needs and keep your property in tip-top shape? Keep reading to find out how to find a management company that's perfect for you.
Take a Look at Online Reviews
When you look for a property management company, your search will more than likely start online. There will be several management companies in your area to choose from, and it might be overwhelming to figure out where to start.
To get a better idea of the companies, check out their reviews on Google, Yelp, and Facebook. Some reviews can be really helpful in letting you know the strengths and weaknesses of a company. Then, when you meet with a property manager, you can talk to them about the reviews you read and hear their side of it to get a full picture.
Explore Their Website
After checking out reviews, visit their website and take the time to explore a bit. Look at their service pages, and see if they have a property management blog. Blogs can be a great indicator of the quality of a business and they can also give you great information about the company.
Also, take a look at the "About Us" page and read up on the staff of the company. You can get a great feel for the company culture and approach to management just by poking around their website.
Understand the Services They Offer
When you're looking for a property management company, you'll want to make sure they offer all of the services you need. Here are some common services to look for in a real estate management company:
- Create lease agreements
- Marketing properties
- Screen tenants
- Fill vacancies
- Home inspections
- Collect security deposit and monthly rent payments
- Handle maintenance requests
- Handle disputes
- Enforce the lease agreement
You should also consider what services the company does, and which ones they outsource. For example, some property managers outsource accounting, which means a longer turnaround time for you to receive your monthly proceeds.
Ask Plenty of Questions
When you meet with a property manager, ask any and all questions you may have. This is your chance to get a full understanding of what they can offer you and how your business relationship will look moving forward.
Here are some important questions to ask a real estate management company before you start working with them:
- What certifications/licenses does your business hold?
- How many years of experience do you have?
- What is your fee structure?
- What services do you provide?
- What types of properties do you manage?
- How do you ensure vacancies are filled promptly?
- How do you market properties?
This is also a great opportunity to clear the air of any concerns you may have regarding their company. If you read anything negative online, bring it up with them in person and hear what they have to say.
Go with Your Gut
Whenever you have a big decision to make, sometimes it's best to simply listen to your gut instinct. How did you feel when you met company X vs. company Y? Did you have a good conversation with a property manager that made you feel comfortable and confident in their abilities?
Your gut can tell you a lot of things that information online can never tell you. So when it comes down to picking the best property management company, go with your gut instinct and stick to it.
Always Work with the Best Property Management Company
Finding the best property management company to work with can be time-consuming and tiresome, but once you find the perfect fit, it'll all be worth it.
Here at Professional Real Estate Management, we know what it takes to provide the best real estate services to our clients. We always go above and beyond and you'll always feel confident that your investment property is well cared for. Contact us today to learn more about our property management services.