Do you need some advice on choosing property management firms?
Property is a wise investment that can return serious amounts of cash. Unfortunately, managing properties can be difficult and time-consuming.
So, most people with a property portfolio look to hire property managers. They can then handle advertisements, rent collection, and upkeeps.
But not all property management companies are created equally. So, how can you separate the good from the bad?
Well, in this article, we’ll share four factors you should consider when hiring a property management firm. We’ll discuss what to look out for and which companies to avoid.
Read on for more information.
Ideally, you want to hire a firm with years of property management experience. This is because the longer they’ve been in business, the more successful they’ve been.
Property managers with years of experience often offer the best customer service and expertise. Plus, they’re likely to be able to land the most reliable tenants.
So, if you want a high return on investment, choose someone with many years of experience under their belt.
2. Customer Satisfaction
When hiring any business, it’s important to get an idea of their customer satisfaction. You can find this information by reading online customer reviews.
Great, how do you find them?
You can usually read customer reviews through Google. Most businesses have a Google My Business page, and customers can add reviews here. Alternatively, you could go onto a website like Yelp.
Businesses with many negative reviews should be avoided. These are likely to be unprofessional and cause you problems.
3. Customer Service
The property manager you hire must demonstrate great customer service qualities such as:
- Being friendly
- Easy to contact
- Able to offer advice
Not only will this benefit you but also the tenants. So, when screening potential companies, please take note of every interaction and rate them on the above factors.
We’re going to assume that you want a high return on investment. So, you need to look at costs carefully and understand what they’re offering.
Some property management firms advertise low prices, which makes them an attractive option. But, they may not be able to offer all the services you’re looking for, so be careful.
Compare prices of several companies and always get a breakdown of what is covered.
Finally, if you want some help identifying great property managers, then we recommend Reedy & Company. They have over 40 years experience, which makes this company one of the best around.
What to Look For When Choosing Property Management Firms
As you can see, there are several key factors to consider when choosing property management firms.
Make sure you read customer reviews and compare prices. But most importantly, choose someone with many years of experience. By doing this, your properties will be in safe hands.
Finally, check out the rest of our blog for some great real estate advice.