Looking to get into real estate investing? It’s a lucrative activity, as long as you protect your properties.
Choosing quality property managers allows you to buy investment properties anywhere. You can manage them remotely, knowing that they’re under the care of a professional team.
Finding the right property managers is mostly a matter of checking employment history. Experience is key, although a combination of experience and education is becoming more standard in the industry.
Collecting rent from multiple properties is a great passive income strategy. Once you find a property manager, you can sit back and enjoy watching the money rolling in.
Here’s a quick summary of how to find the perfect property manager.
Check for the Right Experience and Certifications
The best property management companies hire people with the right combination of management skills and people savvy. To get a feel for a company’s vibe, read their website.
Long-term experience is always a plus, as are industry certifications. If you want to give a brand-new property management company a chance, that’s okay. Just do a detailed background check before making a final decision.
Get References and Online Feedback
The key to finding a good property manager is to ask for references. Property management is a people-oriented business, so you’ll want to check out online reviews. See what former and current customers have to say.
The best-rated property management companies tend to have great BBB reviews. Another good sign is that they’re popular, and work with a high volume of real estate in their area.
Be Sure They Know All Legal Requirements
You should do enough research to feel confident that your property manager can handle complex rental law. In the United States, landlord-tenant law is notoriously complicated, and if it’s not followed to the “T” it could land you in hot water.
At a minimum, your property manager should know tenants’ rights and the dos and don’ts that are mandatory in that area of the country.
Read the Fine Print and Contract Details
The best property management companies are always upfront with their rates and don’t charge hidden fees.
You’ll want to compare rates for services among the property management companies that you consider to be finalists in your search.
If you can, have the contract reviewed by your lawyer for issues that you might miss. This is especially important if you’re new to real estate investing or don’t have a lot of experience buying property in a certain area of the country.
Visit Properties They Currently Manage
The best property and building management companies will allow prospective clients to tour their properties.
To judge how they work, you’ll want to see their properties for yourself.
Look for red flags, like trash, broken windows, unmown lawns, and any other signs of wear and tear.
Finding a good property manager is easy when you do this process of elimination.
Hire Only the Best Property Managers
So now you’ve seen several tips for finding quality property managers. As a real estate investor, you’ll be able to rest assured that your investments are protected from mismanagement and being well taken care of.
We’ve been in business for over twenty years and take pride in our property management experience.
To schedule a walk-through of our properties, or ask questions about property management, contact us today.
