How To Find A Great Property Management Company

Finding a great property management company is key to the success of your rental property investment. A property management company can take care of everything from finding and screening tenants to handling repairs and maintenance. But with so many property management companies out there, how do you choose the right one for your needs? Here are ten important questions to ask when looking for a great property management company:

What services do you offer?

Before you hire a property management company, it's important to know what services they offer. Some companies offer full-service management, which includes everything from finding and screening tenants to handling repairs and maintenance. Others may only offer partial services, such as finding tenants or handling maintenance requests.

What experience do you have managing properties?

Experience is key when it comes to property management. You want to work with a company that has a proven track record of success. Ask how long the company has been in business and how many properties they currently manage. You may also want to ask for references from other landlords who have worked with the company.

How do you handle tenant screening and selection?

Tenant selection is critical to the success of your rental property. A good property management company will have a thorough screening process in place to ensure that only qualified tenants are selected. Ask about the company's tenant screening process and how they handle tenant selection.

What is your fee structure?

Property management fees can vary widely from company to company. Some companies charge a flat fee, while others charge a percentage of the monthly rent. Make sure you understand the company's fee structure and what is included in their fees.

How do you handle repairs and maintenance?

Repairs and maintenance are inevitable when it comes to rental properties. Ask how the property management company handles repairs and maintenance requests, and how quickly they respond to tenant requests. You may also want to ask about their policies for preventative maintenance.

How do you handle late rent payments?

Late rent payments can be a major headache for landlords. Ask how the property management company handles late rent payments and what their policies are for dealing with delinquent tenants.

How do you communicate with landlords?

Communication is key when it comes to property management. You want to work with a company that communicates regularly and keeps you updated on the status of your property. Ask how often the company communicates with landlords and what methods they use.

Can you provide references from other landlords you have worked with?

References are a great way to get a sense of a property management company's reputation. Ask the company to provide references from other landlords they have worked with, and follow up with those references to get their feedback on the company's performance.

How do you handle evictions?

While it's never pleasant, evictions can be necessary. Ask the property management company about their experience with evictions and what their process is for handling them.

What is your approach to tenant relations?

Tenant relations are an important part of successful property management. You want to work with a company that has a tenant-focused approach and works to build positive relationships with your tenants. Ask the company about their approach to tenant relations and how they work to reduce turnover and vacancy rates.

Keep in mind that this is by no means an exhaustive list of questions, and, in fact, these may lead to other questions if you feel the need to get more details. But by asking these ten questions, you can find a great property management company that will take care of your rental property investment and help you achieve your goals. Don't be afraid to ask questions and do your research to find the right company for your needs.