If you own rental units or rental property, hiring a property management company is vital to ensure good tenant relations. According to statistics, there are around 296,256 property management businesses in the U.S. in 2023.
Before you hire management for rental properties, there are some important things to know.
Read on for a list of what to look for when you hire a property manager or management company.
Will They Market Your Property?
A quality property management company won't just manage the property you own. They'll also help you market vacant properties to find new tenants.
Look for management for rental properties that specialize in your local market. These companies can assist with marketing and advertising so you can focus on other things. Good marketing also helps to guarantee that your property gets rented out as quickly as possible.
Management for Rental Properties: Availability
If you leave your homes or rental units in the hands of a property manager, you want peace of mind knowing they're readily available. Choose a company that offers 24-hour assistance in case something goes wrong.
It's also crucial to choose a property management company that uses an in-house property maintenance team. Companies with an online portal provide you with instant access to key information at a glance. Open and available communication between yourself and your property manager is key to ensuring a good experience for you and your tenants.
Ask About Maintenance
Another vital part of being a great landlord is providing reliable property maintenance to your tenants. Look for management for rental properties that include standard maintenance in the contract.
These companies usually have a network of trusted professionals who can handle most maintenance issues for you. Good maintenance also results in long-term tenants, less turnover, and higher rents for you.
Choose a property manager that handles the maintenance whenever issues arise. This will give you and your tenants confidence that the property is in the right hands.
Experience
Always take the experience of different property management companies into consideration. Those with a good track record provide the best value and the best level of efficiency.
Take some time to look at reviews online or talk to other landlords in your area. They can provide you with references or recommendations so you select the best option.
An experienced company has probably seen it all. This means they're equipped to handle just about any scenario that comes their way. Managers with a reputation for reliability and fast response times are something to look out for when you shop around.
Only Hire the Best
Remember these factors when you're looking for management for rental properties to ensure you get the best possible option. From quality maintenance and 24/7 access to marketing, an excellent property manager will offer all of it.
If you need help with your rental units or rental homes, contact the team at Avalon Realty and Oaktree Management today!
Bonnie is the visionary that has driven the company and culture of Avalon since 1993. Her passion is improving procedures and practices; incorporating technology and value added services for both our clients and tenants.