What to Look for in the Best Property Management Services?

When it comes to investment properties, having a trustworthy property management service is essential to maximizing your profits and minimizing headaches. When you hire the best property management company, you’ll have peace of mind knowing all of your properties are being protected; we’ve compiled a list of top features to look for when choosing the right firm.

  1. Courteous and dependable customer service: A great number of property management companies will promise you the world, but what they fail to deliver is excellent, timely customer service when you need it most. From the moment you sign the dotted line until you decide to end your relationship, ensure that your property management company is always available when called upon.
  2. Recognized in the community: Some property management services donate to homeless shelters and contribute to the communities. Therefore, they are well known.
  3. Experience with multi-family properties: Multi-family properties pose unique challenges, so you’ll want a company that is experienced in dealing with duplexes, triplexes, and apartment buildings. These properties have different challenges than single-family homes, so make sure your company is up to the task before you sign.
  4. State-of-the-art software: Technology has transformed the real estate industry in innumerable ways. Having an effective property management software system can help maximize profits while ensuring your team is always on top of the latest trends. Make sure your management company invests in 21st-century technology to make your life easier.
  5. Understanding of rental market competition: If you’re new to the industry or looking for a new property management company, the chances are that you don’t know much about the local rental market, which includes factors such as crime rates, proximity to schools, and housing inventory. A good property management company should be able to provide data-driven analysis about your particular neighborhood so that they know which properties to target and how much to charge for rent.
  6. Experienced leasing agents: When you hire the best property management services, they should have the resources to hire and train leasing agents who are knowledgeable and personable, and honest. Leasing is a vital part of the job because it’s the first impression tenants have of your company; make sure yours stands apart from others in a positive way.
  7. Certified property managers: Make sure that all members of your property management company are certified by the Institute of Real Estate Management so that you know they have a firm understanding of all aspects of the industry. Certification is a mark of excellence and ensures that your properties will be in good hands from the moment you sign on the dotted line to when it’s time for renewal.
  8. Efficient record keeping: Good record keeping of your properties is important for a number of reasons, including tax filings and insurance documentation. A great property management company should be able to provide you with detailed reports of all income, expenses, maintenance requests, and more whenever you request them – not just at renewal time.
  9. Disaster preparedness: Disasters are an unfortunate but unavoidable part of life, so it’s never a bad idea to have a property management company prepared for the unexpected. Make sure your team has a plan in place to deal with natural disasters or other catastrophes so that you can feel secure knowing they’ve got your best interests at heart.