When you are looking for a property manager, there are a few key features to look for that will ensure you are getting the best possible service. A good property manager will be able to provide you with a wide range of services as well as be able to offer you a variety of options when it comes to how your property is managed.
Here are four of the most important features to look for:
Experience and Expertise
Look for a property manager who has experience managing the type of property you own. They should also have a good understanding of the local market and be up-to-date on fair housing laws.
It’s best to look for a property manager with a professional designation, such as a Certified Property Manager (CPM) from the Institute of Real Estate Management.
They should be able to provide you with the following:
- Current and accurate financial reports
- Budget planning and analysis
- Marketing your property
- Screening and approving tenants
- Enforcing the lease agreement
- Coordinating repairs and maintenance
- Dealing with problems with tenants
Good Communication Skills
Your property manager should be able to communicate effectively with you, your tenants, and other professionals (such as contractors). They should be responsive to your questions and concerns, and keep you informed about what is happening with your property.
Dealing with someone who is managing your property that isn’t transparent or doesn’t communicate well can create a lot of stress. Make sure you find a property manager that you feel comfortable communicating with on a regular basis.
Organized and Efficient
A good property manager is organized and efficient. They should have systems in place to handle maintenance requests, rent collection, and other aspects of property management. They should also be able to provide you with timely reports so that you can see how your property is performing.
If a property manager seems disorganized or inefficient, it will reflect in the way they manage your property.
Honest and Ethical
It is important to choose a property manager who is honest and ethical. They should have your best interests at heart, and be transparent about their fees and commissions. You should feel confident that they are looking out for your best interests and not just their own.
A good property manager will be a valuable partner in helping you to achieve your goals for your investment property. They should be someone you can trust to provide you with the information you need to make informed decisions about your property.
Hire the Right Property Manager for You
When you are looking for a property manager, keep these features in mind. A good property manager will have the experience and expertise to manage your property effectively, be a good communicator, be well-organized and efficient, and be honest and ethical.
Take the time to interview several property managers before making your decision. Ask for references and check them out. Make sure you are comfortable with the property manager you choose before signing a contract.