Ready to hand the reins of your rental property over to someone else? It's a little terrifying. After all, you've made a big investment in a rental property and you expect to get a good return. Hiring the right property manager is essential for this to happen.
Additionally, if your property is located far away, you'll be trusting your property manager to be your eyes and ears as you might not visit in person very often.
So, without further ado, let's find out how to choose a property management company you can trust.
1. Establish Selection Criteria
First, determine what is important to you. Do you prefer hiring a single person or a company? Will your property manager handle all aspects of the property management or just leasing? Do you want someone who will be available after hours?
After you have a list of priorities, it's time to start researching property management companies.
2. Use Word-of-Mouth and Online Resources
Start by asking around. If you know any other landlords, find out who they use for their property management needs and if they are happy with the company.
The Internet is also an incredible resource. At the very least, you can make a list of all the options in your area. From there, explore websites and peruse customer reviews to get a feel for if the company understands how to manage properties well and does a good job.
3. Interview Your Candidates with Our Pre-Made Questionnaire Form
Once you have a list of possibles, it's time to go meet them. Prepare for your interview with this handy questionnaire. This will help you organize your thoughts as well as get answers to pertinent questions — even if you don't know to ask them.
Be sure to schedule your interview with the agent who will potentially be in charge of your property. You want to get to know the person with whom you'll be doing business. Are they personable and good with people? Do they seem to be up on all the newest technology to streamline their job? Are they detail-oriented and, most importantly, are they experienced?
4. Check to See If You're Getting the Service You Were Promised
Once you hire your manager, don't just set it and forget it. Follow the process closely for at least three months to ensure you are getting the service you expect.
After the "test" period and as you develop a deeper relationship with your property management company, you can relax a little and let them handle things on their own.
5. Research Pays Off!
If you want to hire a decent property manager, you're going to have to put in a bit of effort. Ensure that a potential candidate is licensed and has proper insurance.
Picking one randomly from the Internet can mean you end up with a property manager who trades cost for service-level and this is not ideal.
Hire the Best Property Manager for Your Investment
Looking for an outstanding property manager? Here at Next Brick, we are poised to help you manage your properties the low-stress way. Contact us today to learn more!