Make sure the company you hire can meet the demands of property management 24/7.
Managing a rental property is a full-time job. Property owners who desire more free time may consider hiring a residential property management company to take some of the burdens of rental ownership off their shoulders.
Several companies offer property management services; however, not all are created equal. When you decide it is time to search for a residential property management company, here are a few things to look for.
Communication and Technology Tools
For starters, you will want to ensure the company you select makes communication with you a priority. This means that when you call them, even outside of business hours, they will have a well-trained professional eager to pick up the phone and help you by answering all your questions.
In today’s digital age, the top property management companies will also offer online tools and features that communicate and help you stay up to date on vacancies, evaluations, maintenance, and financial reports on all your properties.
Tenant Interactions
You will also need to verify that your property management company is prepared and willing to handle any interactions with tenants, from the signing of the lease to addressing maintenance requests to handling eviction proceedings.
They should also be able to provide a specific plan for securing tenant retention. If a vacancy occurs, your company needs to be active in searching to fill the vacancy by advertising the property on rental websites and classifieds, and they should swiftly follow up with inquiries from prospective tenants. Effective marketing of the property includes making sure the property is priced competitively in the market. They should also provide you with assistance in making the property rent-ready by making suggestions on how to increase its appeal to prospective tenants.
Financial Records
Keeping the financial records accurate for a rental property can be complex, and the idea of turning it over to another party might concern you. Be sure to find a property management company with the right tools (e.g., a centralized accounting system) to track all expenses and income. This system should be available to you at all times, so be certain the company you choose offers online services for ease of access.
Minimize Worry and Work
Deciding to use a property management company can remove the stress of owning a rental property. By finding a full-service company willing to go above and beyond to ensure your satisfaction and that of your tenants, you will find you have more freedom—both in body and in mind—rather than being burdened by constant worry and work.
To some property managers, it’s just property. To us, it’s your retirement, college tuition, rainy day fund, or that trip you’ve wanted to take since college. Whether you have a single rental home or multiple investment properties, trust the professionals at your local Real Property Management office to manage your real estate assets. Professional guidance and rigorous processes help you get the best rental rates and quality tenants who stay longer and take care of your property.
The cost of property management is worth the price—long vacancies, evictions, or non-compliance issues can cost you thousands. We help property owners get market-rate rent, avoid common mistakes, and place quality tenants faster. In addition, many local offices offer a variety of guarantees and programs that give you the reassurance you need and the cash flow you want.
Tens of thousands of rental homeowners and investors nationwide trust RPM professionals. The streamlined systems and processes we have developed over the last 30 years as well as our highly trained specialists are prepared to meet the demands of property management 24 hours a day. We know what works, what rents, and how to get the most from your property.
Interested in changing property managers? Or are you looking for a property management company for the first time? For additional questions regarding residential property management, or to inquire further about services, contact the experts at Real Property Management. www.realpropertymgt.com/
