|Joined: 04 Mar 2016|
|Property Management Company is the living asset of our non-living assets and is very much beneficial for managing and handling our rental properties but before hiring a property management company do you know what to look for in a property management company? Here is a list of things that you must know about your property management company whom you are going to hire for your rental property.
1. Property Management company’s fees
Quality doesn’t come in low prices so don’t go for a company who costs cheap price neither go for a company who charge higher cost without any reason. Compare all the companies’ charges according to the services they offer and choose according to that.
2. Setting and Collecting Rent
Property management companies have an excellent idea of setting up rent value as they know the market demands and your property value. Better to know about their rent setting and collection process how they will collect rent from the tenant and handover to you the rent amount.
3. Property Maintenance and Repairs
What procedure they use to maintain your property? Do they have their own maintenance crew or they hire contractors for this. If there is any repair issues how they tackle with it, do they allow tenants to hire their own handyman? These are very important for the maintenance and repair issues of your property before hiring them must ask all these question whom you are selecting for your property or better to ask for a sample how they actually work.
4. Property Inspection
Inspection of your property is very important and you must ask the company about their inspection procedure whether they do inspections or not and if yes then how often they inspect your property. Make sure they inspect the interior as well as the exterior part of the property and get a idea from them whether they only inspect the property at the time of vacancies or during the tenants are living there. Will they inspect tenants also that whether they are following the rules and regulations as per the lease agreement or not all you have to ask them before hiring them and better to ask them to show you a sample of their inspection work if possible.
5. Background, Qualification, Portfolio
Since when the company is working and with the same name or not as many companies changes their names to avoid bad past so you must avoid those companies. You must know whether the company’s staffs are well qualified and proficient to manage your property or not. How many types of properties do they manage? Do they manage it locally, regionally or nationally?
6. Size, Staff and Customer service
You must ask them that who will be act as your property manager and if he is unavailable then who will work on behalf of him. The company must have sufficient staff to work efficiently and effectively. You must confirm whether they are available 24x7 for customers or closed on weekends. How quickly they respond to owner’s or tenant’s calls.
So now whenever you need to hire Property Management Company especially for the new owners you must follow these steps before hiring a property management company. Property management Baltimore is the best company for you if your property is in Maryland or Anywhere in USA.