When you call up property management companies, pay close attention to their customer service. Not only will you be dealing with the company on a regular basis, so too will your tenants. You don’t want to choose a management company that you don’t feel you can communicate with. When you consider customer service, include the promptness with which they reply to your inquiries as well as the friendliness of the employees.
In this age of independence and mindset that one can manage on his own, it is inevitable that a property owner would think he will do fine on his own. Sure, you got tenants who at first, pay on time until gradually they won’t, some will breach the contract and lease terms, then they cause problems with the neighbors and other tenants, then slowly you will notice you are losing money and when you decide to evict the tenant, next thing you know, you have a lawsuit at your doorstep.
Different management companies offer different levels of commitment to the property. Find out if the company will provide full maintenance as necessary, if they will take care of the accounting and tax information, how they handle insurance claims on the property, and other pertinent information. Getting a grasp on these important issues will be essential to choosing the company that best suits your needs. Finding a management company that suits your needs may seem like a daunting task, but it need not be. Simply ask the right questions and put in a little research; and you will be sure to find the company that is a perfect fit.
Remember that as the property owner and hirer of the rental Property Management Company you are the boss and you call the shots just as if they were your employee. If you lack confidence in your manager, even for one moment, it is probably time to start paying close attention to how your manager is treating your property. If repair bills are larger than normal, if information about tenants are being communicated to you on an untimely basis, or if no communication is occurring it is time to make a change. Do not hesitate to take charge and help prevent your return on investment from being hijacked.