Choosing a company to manage the largest asset you own - your home - shouldn't be taken lightly. All too often, our Company fields phone calls from disgruntled homeowners that are frustrated with their property manager.
The core cause of the frustration is often traced to a simple lack of experience on the part of the Property Manager. Below are a few points to consider when selecting your Property Manager:
1) Never hire a Realtor focused on sales. Sorry Realtors, but property management isn't a part-time job. A lot of Realtors feel obligated to lease their client's home when it won't sell. However, if the Realtor is really looking after the best interest of their client, they will refer the client to a reputable property management company. Realtors, in most cases, lack practical management experience and do not have the tools to properly screen applicants.
2) Request if who owns the PM company is the owner of rental property. The very best PM's, for me, own their very own rental qualities. There is little replace the practical understanding that possessing rental property provides. Getting a PM that is the owner of its very own qualities allows the PM to determine things out of your perspective - those of the dog owner - more clearly.
3) How many years experience is enough? Be cautious connected having a PM company whose Principal Broker doesn't have no less than 10 years of PM experience. Chances are, 10 years provides you with the primary Broker with plenty of encounters which supports you. Trust me, you won't want to undergo an undesirable understanding in regards to a PM that's studying the problem the first time.
4) Ask about the PM's staff In addition to the Principal Broker, the PM's staff should have solid experience managing and leasing properties. A simple question to ask is: "What's the combined, or average, experience of your entire staff?" Most well-run PM companies will have that information readily available.
5) Technology matters Progressive, experienced Property Management companies will always be searching for methods to do things more effectively and effectively. When the PM company you're thinking about still mails claims, collects paper programs and uses yard signs for the majority of its marketing, you'll most likely wish to continue your research.
Using antiquated methods for leasing and managing your property shows a true lack of sophistication and desire to do things better. PM companies that strive to remain relevant and viable for the long-term, will always seek out the best technology to handle your property.
The core cause of the frustration is often traced to a simple lack of experience on the part of the Property Manager. Below are a few points to consider when selecting your Property Manager:
1) Never hire a Realtor focused on sales. Sorry Realtors, but property management isn't a part-time job. A lot of Realtors feel obligated to lease their client's home when it won't sell. However, if the Realtor is really looking after the best interest of their client, they will refer the client to a reputable property management company. Realtors, in most cases, lack practical management experience and do not have the tools to properly screen applicants.
2) Request if who owns the PM company is the owner of rental property. The very best PM's, for me, own their very own rental qualities. There is little replace the practical understanding that possessing rental property provides. Getting a PM that is the owner of its very own qualities allows the PM to determine things out of your perspective - those of the dog owner - more clearly.
3) How many years experience is enough? Be cautious connected having a PM company whose Principal Broker doesn't have no less than 10 years of PM experience. Chances are, 10 years provides you with the primary Broker with plenty of encounters which supports you. Trust me, you won't want to undergo an undesirable understanding in regards to a PM that's studying the problem the first time.
4) Ask about the PM's staff In addition to the Principal Broker, the PM's staff should have solid experience managing and leasing properties. A simple question to ask is: "What's the combined, or average, experience of your entire staff?" Most well-run PM companies will have that information readily available.
5) Technology matters Progressive, experienced Property Management companies will always be searching for methods to do things more effectively and effectively. When the PM company you're thinking about still mails claims, collects paper programs and uses yard signs for the majority of its marketing, you'll most likely wish to continue your research.
Using antiquated methods for leasing and managing your property shows a true lack of sophistication and desire to do things better. PM companies that strive to remain relevant and viable for the long-term, will always seek out the best technology to handle your property.
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