Are you looking for a property manager?
Good property managers are hard to find. You want someone who will take care of your investment as if it were their own, reducing the stress associated with owning property while ensuring you get the highest return. With so many options out there, where do you start? Here’s how to narrow down your search and find the right one for you! One good way to find a good property manager is by asking for recommendations from people you know. Personal referrals are always the best because these managers have been ‘vetted’ already and their good work will speak for itself. If you don’t have friends or family who can offer any suggestions, then the next step is to look online and search for property management companies close to your investment property.
Here are a few things to look for when searching for potential property managers:
- What is their experience? Ideally, you want a property manager that has had years of experience and is old enough to have life experience in dealing with people.
- How much do they charge and how does this compare to other options out there? Some property management companies have a lot of additional costs that will lower your return.
- Are there any Google reviews of them online – both from investors and tenants? See what people are saying, having a few negative reviews is fine – however, if there are too many then it’s a sign to move on.
- Can I communicate with them easily via phone/email/or in person? If not, then look elsewhere! Be wary of someone that is constantly calling you, this company will likely have targets and goals to bring in new business – these are not the signs of a good property manager!
- Do they have good systems in place? There is so much work in managing a rental property, that to do an effective job, a property manager needs to have procedures for tasks and utilise technology to make it easier.
- How good are they at screening tenants? Finding good tenants is so important, you want someone to look after your place and pay rent on time.
While this might seem like quite a lot, remember that a good property manager will reduce the stress of owning an investment property.