When it comes to renting out your property, you’re going to want the best of the best, and this doesn’t just mean finding a good property manager — you’ll want to be sure you’ve hired the best property management company out there. There are currently an estimated 206, 328 property management companies in the United States, and here are a few tips and tricks to helping you find the best one for you.
Referrals Talk to as many real estate agents and other property owners in your area as you can. Asking around is the same thing as shopping around, and the often the best reviews are from the people who have experienced the service themselves. Ask what companies they use or have used in the past and if they’ve been satisfied with their property management services. Do keep in mind that referrals can be biased at times.
Search Online Because of biased opinions, always do an online search. Property management websites like AllPropertyManagement.com allow you to type in the size of your property and your location and it will generate a list of the best property management companies in your area. From 2009 to 2014, the American property management industry grew roughly 3.1% every year, thanks in part to these property management search sites.
Scope It Out Check out their current work by looking at some of the current rental ads. Are the ads professional-looking and compelling? If so, you may want to look further into what the company has to offer. Check to see how many places they advertise: Do they have ads in places that were only free or charge, or did they pay for a premium spot on a website?
Also be sure to physically stop by some of the properties managed by the company to see what kind of condition they are in. If the property management company only manages homes that need a fixer-upper, it may be time to look elsewhere.
Check Certifications Always be sure to check a company’s license and certification. With the housing market still in a slump, many fraudulent companies have sprung up. The property management industry generates an estimated $69 billion in revenue annually, but don’t give them a cent if they have no license and certification. Continue reading here.