Choosing a Property Management Company
There are many people who have properties that they want to rent in order to earn some extra cash. However, they do not want to have the burden of being a landlord and dealing with their tenants. The owners of the property might also want to live in a different area than their property is located. This will make it impossible for the owner to act as the landlord. In these cases, it is necessary for the property owner to hire someone to take care of the property and make sure the tenants have everything they need. It is common for people to hire property management companies in these situations. Here is how you can go about locating an outstanding company in the property management field.
1. How long has the company been around?
You should only entrust the management of your property to a company that has been doing it for a very long time. This is just good common sense. You should verify the level of experience of every property management company that you are thinking about hiring. In many cases, this info will be clearly stated on the company’s website. However, the company will tell you what you need to know if you decide to call them. Basically, you should ask when the company was founded and how many properties they have managed during that time. This will give you a good idea regarding the company’s ability to competently take care of your property in your absence. Ideally, you should only hire a company with at least four years of Phoenix property management experience.
2. Have the company’s previous clients and tenants been satisfied with the job that they have done?
You should also try to find out if the people who have dealt with the property management company before have been happy. Try to find some people who have hired the company to manage their property. Did everything go smoothly? Was their tenant satisfied with the way the company managed the property while they were living there? Use the info they give you to make your decision.
3. What type of rates do they charge for their services?
You will obviously need to investigate how much you will need to pay to hire the property management companies that you look at. Compare their prices so you can find the lowest one.