If you are a real estate investor or own rental properties, you may find yourself bogged down by the day-to-day responsibilities of being a landlord. Property managers are a great resource to handle these details while you focus on the bigger vision of your business and investments. However, finding the right property manager for your property may be tricky. If you are a landlord, here are a few things to consider when looking for a property manager.
Establish what you are looking for
To find the right property manager for you, you need to know what you are after. Here are some things property management services can cover:
Lease preparation and enforcement
Tenant screening and relations
To make the best decision for your properties, you will want to be sure you’ve done your due diligence and interviewed competitive candidates. During the interviews, ask the following questions:
What does the scope of your management include?
What is the total fee(s)?
Are there any additional services that require an extra fee?
What is your availability for tenants?
What will our communication look like?
Portfolio of properties
Does the property manager you are considering handle the type of property you own? Do they have experience with single-family homes, townhomes, and/or condos? The scope of a property management company’s experience is important. A well-seasoned manager knows how to handle the variety of issues that inevitably arise with rentals. You want to be sure your property manager knows how to work with your rental situation effectively.
While every company in every industry is bound to have at least one bad review, warranted or not, be sure you are going with a manager with an overall positive reputation. Look to see how the company is rated and if they’ve rectified issues with clients. Ask around in your area for referrals and recommendations to ensure you are going with a tried and true manager. This person or company will be responsible for your business. Your confidence in them is essential.
Local vs. big property managers
As the landlord, you have to decide whether you will go with a local management company or one with a more extensive presence, potentially across the state or country. Here are a few pros and cons for each:
Several employees to handle your property
Less incentive to go the extra mile
Know the area and the people
Typically more responsive to each client
Fewer people to rely on
Potentially slower service
VHS Property Management can help
If you are looking for a team that knows how to efficiently and professionally manage your properties, VHS Property Management can help. We provide full-service management of the highest standard and treat each client’s property as if it were our own. Our team comprises Virginia locals who know the ins and outs of rental management to provide top-notch customer service. Contact us today and provide you with information surrounding our full-service management.
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