Your investment property is an asset that requires proactive and professional management to protect it properly. You wouldn’t let your neighbor’s friend manage the stock portfolio (unless, of course, she actually knows what they are doing). Likewise, when choosing a rental manager for this important responsibility in life. Make sure you go with someone who has experience managing properties like yours as well as being responsive/transparent. So their clients feel confident about hiring them again. Where do you find the managers of investment properties who will protect your investment like it were their own?
The following five key ways can help you determine if an property management Hillcrest is right for you:
1. Find a company with specialized experience
2. Verify the licenses and certifications of the professionals
A reputable team has members who are licensed by state law – this means that each one must meet certain strict requirements when it comes time for renewal–from education level all way down to personal experience-just because you’ve been doing something successfully now doesn’t mean others will too!
3. Review customer reviews and references
4. Study the property management agreement
Typically, the property management agreement includes:
- We resolve tenant concerns, handle requests, maintain the home, fill vacancies, collect rent, handle move-outs and evictions, and handle all day-to-day operational duties. The agreement should clearly outline all fees, as well as the process for approving any additional expenses, to prevent any surprises in the future. Make sure the contract specifies how repairs will be handled and expensed, including a set expense limit that you feel comfortable with.
- The agreement may outline your responsibilities as well as the manager’s. If there are tasks you don’t wish to perform, be sure to discuss them with your property manager.
- Contract duration and termination clauses: Each agreement should have a specific start and end date. One-year contracts are common. In addition to covering contract terms, termination fees and timelines are also important to include in the contract.
5. Make sure they have the right insurance
Your property manager will have the appropriate insurance for you and your home. Your agreement may mandate that they are required to carry certain amounts of coverage. So make sure not only do I have enough but also what types?
The expert team does everything in its power to ensure our clients’ homes get top-notch management by people who care deeply about them. We want nothing else than peace of mind from knowing everyone is taken care of during difficult times!