Five things to consider when choosing a property management agency

Property managers are responsible for finding suitable tenants for your properties, handling complaints and maintenance requests, as well as move-outs and evictions. The difference between a good property manager and a bad one can be life-changing for a landlord, so making an informed decision is key. Here are five things you should consider when choosing a property management agency. 

Location

Local property management agencies will often have valuable knowledge about the area, like the correct rent rates and contacts with trusted local trades. Similarly, local agencies will generally have a better understanding of how to handle different property types in the area, as well as how to keep the tenants satisfied. Face-to-face contact is made much easier when your agency is within the same vicinity as your rental property.

Client reviews

Seeing how previous clients have responded to property management agencies is a great way of gauging your potential experience with them. While individual reviews are not particularly reliable, consistent positive or negative reviews are generally good indicators.

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Value for money

Not all property management agencies offer the same services, nor do they all expect the same fees. Identify what you want from your agency and know what you’re willing to spend. From there, you can find a balance to suit your budget.

Do your research & ask questions

Research the agency’s tenant-screening and rent-collection methods. These are important because bad tenants can lead to damaged property. Similarly, missed payments can mean money out of your pocket. Discover what variation there is within the different companies. How is one better or worse than the other? The best way to learn about a company often can be get in contact with them. Face-to-face contact is best if possible but this can also be done via email or phone. 

Communication

Property management agencies will be managing your properties on your behalf, so it is vital they are able to effectively communicate with you at all times. Compare communication with a few different companies to gauge which is better. 

With these five key considerations, choosing the correct property management agency should be a little easier. 

Toop&Toop