Finding the right property management company can make the difference between great investment yields and a rental property that’s been running empty for months. Don’t know what to look for? Here are a few qualities your property manager should have:
Consider experience and qualifications
Does the company have the experience you want? How long have they worked in the property management industry? Long-standing experience speaks of long-standing competence. Check to make sure the qualifications are authentic, too. And if everything checks out? Then you’ve got every reason to say yes. You’ve got a much better chance of getting higher investment yields when you work with pros.
How they screen tenants
Awful tenants can make your life a living nightmare. If you don’t want to spend money just driving bad tenants away, make sure you hire a property management with a rigorous screening process. Ask about it. If you think they don’t have the insight or skills to tell the bad apples from the good ones, move on to the next one on your list.
Their emergency protocols
How do they deal with emergencies? Do they have a contingency plan in place? What’s the process? If they don’t have it, you might want to look around and see if you can find a property management team with a good emergency plan, especially if this is important to you.
Professional Fit
It’s important that you choose someone who’s a professional fit for you. No matter the professional expertise and qualifications, if it’s someone you can’t seem to get along with, you’ll have a tough time at it. Hire someone you know you can trust. Everyone knows people work better when they work with someone they can closely get along with in confidence.
These are just a few qualities your property management team should have. So consider your choices wisely before you settle!
