Finding the right property management company can be a challenge. There are so many factors to take into account for your search! Here are just a few important things to look for when choosing the company that is right for you and your tenants.
According to Realtor Magazine, a company’s reputation is the first thing you should examine when starting your search. It’s no wonder why; a property management company’s reputation can make or break owner and tenant relationships. Knowing the experiences other property owners and tenants have had with a company can be critical to future encounters.
Start by collecting referrals, reading reviews, and talking to people you know about who they’re familiar with and what their takeaway was from those occurrences. You want to build a relationship with a company you can trust, and that starts by getting to know all sides of the company!
Another important building block when looking for a property management company comes in their relationship with tenants. Some important questions to ask include:
- Do they have a tenant vetting policy to protect your investment?
- Do they have a set move-in/move-out procedure to protect good tenants?
- Are they accessible for your tenants when there is an issue, or will you have a bigger problem later down the line?
- Are they fair in their pricing practices?
- Is the rental contract fair and clear for tenants?
Having all the details addressed ahead of time can help to alleviate your concerns before they ever have a chance to arise. Transparency is key in any relationship, and that goes double for business partnerships!
Management Plan and Style
Knowing how a property management company handles business is very important to the future of your investment. Take a deep dive into the management services they provide. Things like how they handle marketing for vacancies, what maintenance contacts they have and how often they schedule routine services as a preventative for bigger maintenance concerns all affect your bottom line. Do they communicate regularly with tenants, or do they prefer a more hands’ off approach? How do they prioritize every property they manage? These are questions you want to ask to find the right fit for you.
At DJW Property Management, we take pride in every property in our care. When you choose us as your property management company, we work hard to give you the best professional service possible, building a relationship with you and maximizing your investment. For any questions and inquiries, contact us today!