As a landlord, you may have come to the conclusion that you’d rather stick to your investing and let someone else handle the day-to-day job of managing your rentals. It’s understandable -- being a landlord is hard work. So, why not leave it to the professionals?
Hiring a property manager is a relieving step in the right direction. But, you can’t just hire anyone, can you? Not at all. You need to make sure you are hiring one that is going to treat your property as their own, maintaining your investment as well as meeting the needs of tenants.
For these reasons – and more – it is crucial that you learn how to screen a property manager before signing any documents.
What You Want
Before you can make sure that you are choosing the right property manager, you need to determine what it is that you want. In other words, what do you hope a property manager will be able to do for you?
Property managers help find tenants for rental properties and handle maintenance issues as they arise, true? Yes, but that’s not all a property manager can do. Property managers will maintain your property well, offering preventative care throughout each season while also keeping your vacancy rates low.
You want to know that you can rely on your property manager to handle issues as they arise while keeping your investment healthy and occupied.
Let’s be honest, the above wants are great, but they just scrub the surface. There is a generic way of handling business and then there is a stellar way of handling business – and the latter goes above and beyond. When it comes to finding a property manager suitable for your needs, you will want those stellar qualities.
If so, then the property manager you seek will have the following qualities:
- Diligent screening of all potential tenants. Your property manager will understand that finding ideal tenants is important and will, therefore, have a system in place to rule out those who don’t qualify and confirm those that do.
- A+ marketing skills. Your property manager can get your property in front of the right people each and every time.
- Open communication and open access to the database. Your investments are important to you and you want to be able to check up on them at any given time. Your property manager will have a high-quality portal system that allows you to access your properties and records regularly. And, your property manager will provide you will status updates regularly.
The property manager that you hire should be well-respected within the community and come with a good reputation. You want your property to be a good home for some great tenants – and you want a property manager that supports that.
Your future property manager will always be looking forward – always seeking ways to better your property and refusing to settle.
When it comes to property management in our office here at ALH|Podland, we prefer to allow our clients to focus on their investments. So, go on – enlarge your portfolio and increase your ROI. Your property manager will take care of the rest.
Marina Shlomov, a managing partner at ALH|Podland Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out atwww.alhpodland.com. You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube, Bigger Pockets and REI CLub and LinkedIn.