Obviously you want a qualified property manager who is well organized, reliable, and an expert with experience in their field. The following are a few things that you must consider while searching for a property manager to get the best fit:
Just like any other job, you should ask for referrals. You can talk to other real estate agents and landlords in your area to get some good references. But always remember, references can be biased. So you must have ability to judge the potential of the candidate.
You can also perform an online search for property management companies. Plus, there are many sites that ask you to fill in the detail of your property locations and generate a long list of reputable property management companies in your area. Instead of starting interviews, you should check their credibility on Yelp and their rating with the Better Business Bureau.
Evaluate the Current Work
First, check current rental ads posted by the property manager. Do the ads look professional and attractive to you? Do they advertise in different places or are limited to free sources only?
After this, go to the actual properties he or she is managing. Check whether the properties are well cared for, or look messy. You can get some information by talking to the tenants about how well he manages and responds to complaints. You must also ask the property management company for a sample of the monthly report.
Call Several Candidates
Interview as many people as you can before you choose your property manager. This will ensure you find a reliable and comfortable person to work with. When your interview multiple candidates, you will be able to separate the good from the bad. During the interview, observe whether the candidate is receptive to your questions. Plus, you must ask questions about their education and experience, fee charges and their knowledge about landlord tenant laws.
Many states require that property managers hold a real estate broker’s license or a property management license to perform duties such as rent payment collection, lease negotiation, etc. You should also know if he or she has been certified with a trade organization such as the Institute of Real Estate Management, National Apartment Association, National Association of Residential Property Managers or the Community Associations Institute.
Apart from license, these organizations also offer certification and training programs. After evaluating their credentials, you should trust your instincts.
Examine the Management Agreement
You need to read the agreement thoroughly to ensure it clearly defines the responsibilities of the property manager. Discuss it during the interview and pay attention to each section and the services offered, any extra fees charged, compliance with housing laws and any reason for cancellation.
In today’s era, when everything can be managed online, property management is not an exception. Many property management tools such as SimplifyEm help professionals manage their responsibilities online efficiently. You can receive rent from tenant, transfer to the landlord and generate various reports online.
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