Making the decision to work with a property manager or management company is not one to take lightly. After all, having investment property is a big undertaking in itself, you defiantly need a reliable property manager to entrust it to. Hiring the right property manager will defiantly make the rental process much easier for you in the long run.
Here are few tips when looking for one to hire.
Do your research.
Find out how many other properties they manage and how many are vacant.
- How do they advertise property that is available for rent?
- Are there any negative reviews about them?
- Check with the Better Business Bureau and Real Estate Commission as well.
Ask for referrals.
Real estate agents are a great resource when looking to hire a property manager.
Ask around to other property owners, who do you know that also has rental property? Who do they use? Check with the Better Business Bureau and Real Estate Commission for this as well.
Meet with them in person before hiring them.
Often your first impressions are the best way to decide. Meet with him/her to get a sense of their professionalism, knowledge etc. Get clarification on how they can be reached, text, phone call, email etc. There is nothing more frustrating than hiring someone to manage something and they are difficult to reach when needed.
Look over the contract with a critical eye.
If something seems off or unfair, ask for clarification. Do not sign anything until you are certain that this property manager best suits your needs. Also make sure the costs are in line with your expectations and other companies.