There’s a lot of work that goes into managing a property. It’s a full-time job (and then some) performing tasks like finding tenants, resolving their problems promptly, and performing repairs. Investing in real estate is often considered a way to make somewhat passive income, so why would you want to work harder than at your old job? Find a reliable property management team to help reduce your workload while increasing your income. If you’re new to working with a property management company, our team at Reliable Properties has put together a guide with five tips for finding reliable management for your property.
1. Visit their properties
One of the best ways to learn about how a manager takes care of their properties is by paying them a visit. Look up some single-family homes or apartment complexes that a company manages and look at how well-kept they are. Suppose you see unkempt lawns with weeds or tall grass, exterior damage, or unmaintained apartment parking lots. In that case, they might not have a good reputation for maintaining the property, and yours could quickly fall into disrepair. In addition to taking a drive-by to look at their property, ask to take a walk-through. You should look at how the interior of the property is cared for as well as the exterior.
2. Interview managers
Hiring a property manager shouldn’t be taken lightly because you’re hiring an employee to run your business. Similar to how you would want to interview and vet someone before you hire them to work the cash register at your shop, you should do the same for a property manager. Schedule interviews and speak to several people or companies before you hire them to manage your house, condo, or whatever property you have.
3. Ask for referrals
It’s always a good idea to network with others who have investment properties. You can get great ideas for services to maintain your property, good ways to find new tenants, and learn about reliable property management companies. Speak with others you know who have investment properties managed by a third party, and you can get some great advice about things you do and don’t want from a manager, as well as learn about some places to start your search.
4. Read online reviews
Both tenants and property owners