How To Pick The Right Property Management For Your Needs
You are planning on bringing a property manager onto your team, congratulations! Working with the right property management team comes with a host of benefits ranging from:
- Keeping your property rented with qualified tenants who will care for your property
- Having someone handle the day to day operations when needed
- And keeping your financial records ready and readable whenever you need them.
But, like any business, there are good and bad choices-and the worse your choice the more you damage your investment. We can help. Use our tips below to identify and choose the right property management company the first time and keep your property profitable for years to come!
Tip 1: Find A Team With Experience
When talking with property management companies be sure to ask about their customers, testimonials they have, and how they handle challenges. Remember anyone can claim they offer quality service, its a whole other thing to actually have experience doing it. By questioning your company on how they handle situations you learn what to expect when problems arise for your property.
Also, an experience property management company will be able to talk easily and in-depth about all types of issues and highlight resolutions and successes they’ve created.
Tip 2: Look For Industry Credentials
Property management professionals should have affiliations and accreddition with multiple industry groups that regulate real estate operations. The best property management companies will showcase their credentials because they understand that it demonstrates their credibility and experience in the field. Here is a list of the minimum number of groups the company you are considering should have.
- Better Business Bureau
- National Association of Realtors
- National Association of Residential Property Managers
Tip 3: Ask Specific Questions About The Market
When hiring a property manager don’t look for just a handyman. No. You want to look for a firm whose experience will make them a trusted advisor who you can work with to grow your property’s profitability. The best managers will have experience with the region and know the ups, downs, and possible problems of the rental market in Virginia. You want to engage with a manager whose advice and insight can both boost and protect your profits for years to come.
That is why you need to come prepared with a list of questions specific to your needs, location, and unit when interviewing candidates. When reviewing answers look for the company that takes time to address your issues and not stuff you into a one-size-fits-all approach.
Tip 4: Focus On Quality, Not Price
You want to lower your costs as much as possible. That makes sense. However you need to hire the right help right out the gate. Teaming up with the wrong property manager costs more than the most expensive option on the market. Cutthroat pricing leads to stripped down deliverables.
You don’t want your property cared for and looked after by the cheapest possible option. Skip the headaches, bad tenants, and property management problems by picking a property management company on the quality of their service and how it relates to your needs-not price.
Outstanding work ethic and an exceptional attention to detail.
Bryant C., Satisfied Client
Keyrenter in Hampton Roads is by far the best property management service. Management is prompt, professional and genuinely caring. There has never been an issue and management stays on top of things! I recommend Keyrenter HR for any renting needs you may have!
Candice T., Satisfied Client
The easiest and most smooth process. I still can’t believe how smooth things went but Rodney has taken care of everything for us during the whole process from beginning to end. As a property manager should. He found the right tenants to move in and we haven’t had any problems. I would easily recommend Keyrenters to anybody.
Galen B., Satisfied Client
Rodney Fentress is awesome. Great owner/landlord. We love our home, it's a really nice house. Had a maintenance problem that was handled promptly. We recommend this company.
Tahesha C., Satisfied Tenant
PROVEN AND TRUSTED