Working with a professional property manager can play a pivotal role in ensuring the smooth operation of your rental property. However, one of the most important factors is that not all property management companies will be the same.
Some property management companies offer low upfront prices and money-back guarantees, while others aim to provide best-in-class service. There is a wide array of property management companies to choose from, so how do you find a good property management company?
Determine What Kind of Property Management you Need
When considering which property management company to hire, it is essential to pinpoint what you want to get out of working with one. Do you want a property management company to control your property fully? Are you looking for a property manager with an extensive network of licensed and insured contractors to ensure your property is maintained and protected? Are you seeking a property manager to guide you through investment and pricing decisions? The specifics of your property management needs will influence which company is best suited for you.
Although different companies may offer similar property management services, each company has its own distinct set of values and a unique mission that influences the work they do. Some property managers may emphasize providing the fastest tenant placement rate. In contrast, others, like The Listing Real Estate Management, offer experience, dedication, and attention to detail while treating each property as if it were our own.
Research the Property Managers: Is the Company Experienced?
Before hiring a property management company, it’s vital to ensure you are working with experienced professionals. We highly recommend hiring a company with a proven track record of success managing multiple properties for extended periods.
One way to research how experienced a company is is to look them up online. When you search for the company, what do you find? Important insights to look for are reviews, blog posts, awards and recognitions, and website transparency.
A property manager who has a detailed website, a plethora of client reviews, and distributes information through blog posts and social media shows that the company is dedicated and well-versed in Tampa property management.
Does the Company Seem Trustworthy and Transparent?
Working with a property manager will yield positive results if the company is trustworthy and transparent. When your investment property is in the hands of a property manager, you want to ensure that you can trust them to make decisions for you and your property.
One significant sign of a lack of transparency is if the company provides little to no detail about the services or pricing they provide. If you run into a company that is not open and honest about the business they do, steer clear. Since you’re paying for property management services, you deserve to know exactly what you’re paying for.
Another way to determine whether the property management company is trustworthy is to see what people say about it. Seek out online reviews and client testimonials to read about client’s experiences with the company. Remember that not every person will be satisfied; take all feedback with a grain of salt and use context clues to determine whether you believe each argument is valid.
What Property Management Services Do They Offer?
The services offered by each property management company will vary. If you’re looking for a full-service property management company, there are five essential services you should look for:
- Marketing and Leasing
- Tenant Screening
- Rent Collection
- Maintenance and Repairs
- Rent Collection
These five property management services are vital in optimizing rental property income and financial returns.
Marketing is an essential aspect of property management. Listing your property on rental websites like Zillow, Trulia, and Realtor.com, as well as various social media platforms, gives your property maximum exposure to potential renters. Examine each property listing on your potential property manager’s website; are there detailed and accurate property descriptions, professional photos, and videos?
Speak Directly With the Property Management Company
Another tell-all is how the property manager speaks to you. Make it a point to meet potential property managers or schedule a phone call before committing to the company.
How the property manager treats you initially will reflect how they treat you as a client. An experienced property manager should go out of their way to provide exceptional hospitality. It is essential to seek a property manager who offers services through a personal, proactive, and dynamic approach.
When you speak to the property management company, note how they answer your questions. An experienced property manager will directly answer your question and clear any confusion, not add more confusion. A property manager who avoids answering your questions and beats around the bush may lack transparency and may not be the right property manager for you.
Does the Company Offer a Free Rental Analysis?
A highly beneficial tool that some property management companies provide is a free rental analysis. A free rental price analysis allows a rental property owner to obtain a free rent estimate from a potential property management company.
The rent estimate provided by the property manager can reveal whether or not the company is reliable. This is also an excellent way to connect with the company before signing up for property management services.
Finding a Good Property Management Company
Finding a good property management company may seem like a tedious process. However, the right property management company will often stand out amongst others. Just by doing a quick Google search, the company’s reliability will become evident.
We highly recommend choosing a full-service property management company with 5-star reviews and a straightforward approach to how they operate.
At The Listing Real Estate Management, we’re on a journey with our rental property owners. From the beginning, we’ve always believed that it’s not about how many rentals we manage, recognition, accolades, or why we’re “The Best,” but about YOU and your success.
If you’re a Tampa rental property owner looking to hire an experienced and efficient property manager, contact us today at The Listing Real Estate Management, your boutique property managers. At our core, we are a guide in your story, always here as a resource to you and your investment property.
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