Protecting your real estate investment hinges a lot on picking the right property management firm. But the glut in property management companies in the real estate market and the entry of new ones can prove problematic. How do you tell the difference between competing organizations when most of them provide similar services and make similar claims? Here are some pointers for determining the best fit for your needs.
1. Look for referrals from several sources.
Picking up second-hand information about property managers from http://www.impero-property.com can be your first step. You can learn some of your options by conversing with real estate agents or property owners in your local area.
Ask if you may have a list of property management firms they had experience with or are presently using. Pick up on the things they have been happy with and the problems they have had.
There can be biases in some referrals. This is the reason you are getting recommendations from several sources. Should you hear that a certain property manager or firm is good numerous times, then chances are it is really capable.
2. Use the Internet in searching for property managers.
Carry out your own research in the World Wide Web. You can input the dimensions and location of your property in some websites and they will generate a listing of property management firms near you.
Before setting up a face-to-face meeting with a property manager, check out also the company's reviews posted online. Have down pat the customer rating the company gets and if there are complaints filed against the firm. Know more about property management in http://www.ehow.com/about_4603681_property-management.html.
3. Inspect their ongoing projects.
Drop in the actual properties they administer. Check if the premises are spotless and well cared for.
Consult the tenants to gain firsthand information on how the property manager run the building. You want the property management Phoenix you will hire to make you happy so ask the tenants if they are happy with the management.
Also, ask the tenants if their complaints are promptly addressed. Inquire as to the amount of time it takes for a maintenance problem or repair to be done. Observe how clean and how quiet the building is. Question the tenant if he intend to sign a new lease with the property manager and his reasons for renewal or non-renewal. Knowing the answers can aid you in your decision whether to hire the same property manager or not.
Also ask for samples from the property management company of the kind of monthly report you would be getting. While you're at it, you may also want to take a look at the property manager/management company's license and certification. They should be able to show a valid real estate broker's license and a trade organization's certification.