If you have decided to make a switch from being a homeowner to being a landlord, your first step should involve hiring a professional property management firm, such as Lowe Guardians. Such a firm will serve as a middle man between your tenants and yourself, as well as alleviate much of the hassle and stress that come with property rentals. To ensure that you are getting the best services, you should take into consideration some factors when choosing a property management firm.
Quality customer service
When you contact a certain property management company, pay special attention to their customer service. Keep in mind that you will not be the only one dealing with the company on a regular basis, but also your tenants, as well. You will want to avoid a company that you will have problems communicating with. When checking out the quality of customer services, include their attitude, if it is friendly or not, and their promptness.
Longevity and history
Next up, check for how long a company has been in the property management business. This will tell you a lot about how competent and reliable they are. However, you should not base your decision solely on this factor. But, if a company has been in the business for at least a few years, it is a good indication that it is reliable and acknowledged for providing quality services.
The costs and fees
You are hiring a property management company to serve as an efficient liaison between your tenants and yourself. Therefore, you should look for something that will get you the best bang for your buck. The range of services property management companies provides usually include everything from specific services to all-in-one comprehensive packages. Of course, along with these come a plethora of fees, as well. Before you make your choice, don’t forget to discuss all the fees that a company charges. Keep in mind that all of them should be clearly outlined in the official owner/manager contract.
Look for references
If you are unsure about certain companies, it is always a good idea to talk with those who have already dealt with a particular company. With their references, you will get a much better feel of how your experience will be. Ask your friends, co-workers and family members whether they have any recommendations to offer. Also, when speaking with company representatives, don’t forget to ask them for a list of references to check out.
Conduct an interview
Once you have narrowed down your list of choices to 2 or 3 companies, take some time to conduct personal interviews. Inquire about the kinds of properties they have managed in the past and whether they have experience managing properties such as your own. Also, pay attention to the experience of the companies’ employees. The more experienced they are, the better their performance will be, it is as simple as that.
Finally, check if a company offers full maintenance services, as well as the services that involve taking care of tax information and accounting. Your best option would be to go with a company that includes all of these and the handling of various property insurance claims.
Finding a great property management company should not be a complex and daunting task. Just make sure to take your time and conduct a thorough search, and you will surely find a company that perfectly suits your needs.