Managing a rental property may seem easy, but the truth is that it comes with a lot of responsibilities. That is why many property owners look for companies to manage their rentals. As in all businesses there are many options. Knowing what to look for when you start your research is very important. Here I share three essential things that a property management company should have.
First, there must be 24/7 customer service. Items and things do not break or stop working only during office hours, they happen when you least expect it. Therefore, there must be staff to attend to emergencies at all times.
Second, they must be experts in property maintenance. Ask about their procedures. Some companies have their own team of contractors and others seek outside estimates. It is necessary to be clear about this so that you know what to expect during emergency situations.
Third, study their reputation and experience in the market. If possible, talk to someone who used their services and look at the reviews online. Keep in mind that usually people who post reviews online fall into one of two extremes, either they were very satisfied with the service, or they were very disappointed with the service. You cannot base your decision solely on online reviews.
Finally, you will need to use your judgment and put everything in perspective to determine if it suits the needs of your business. For a rental business to be successful, it must have staff that provide good customer service, good maintenance, and has experience in the market. Research these factors before making a decision to choose the best option.
Raidily Lopez
Real Estate Investor
