Before you decide which one is best, it is important to understand what a property manager is and does. Property managers can be an individual or a firm that takes over daily rental operations for a fee. Thus, these professionals take over when the owner cannot attend to landlord responsibilities or simply does not want to. Some of these responsibilities include:
Targeted Marketing
Applicant Screening
Legal Leasing Documents
Property Inspections
Rent Collection
Basic Accounting and Reports
Maintenance Coordination
Tenant Communications
Fair Housing and Legal Compliance
Finding the best property manager can take your investment to the next level. However, rental management is a complex undertaking involving legal matters, handling tenant communications, and taking steps to protect the property itself. So, with rentals continuing to be a booming industry, property management firms are popping up everywhere. That said, not all rental managers are created equal. To find the best fit, check out these tips to find the best property manager below.
Do Your Research
Stick with Local Expertise
Prioritize Organization and Technology
Interview Multiple Candidates
Test Candidates with Very Specific Questions
Get Referrals from Other Investors
Review Local Ads
Look for a Proven Track Record
Only Entertain Licensed Property Managers
Personal Impressions Matter
