With the number of foreclosed houses available at very attractive prices, many people have seen this as an opportunity to add rental property to their investment portfolio. Rental demand has also increased, as the people who lost their homes are now potential tenants. If this is your initial move into investment property, how do you find a good property management company in Clackamas?
If you are now moving into investment property, you will need property management. It is a demanding job, and for your assets to be cared for properly so they may provide a reasonable return, you do not want to leave them in the hands of anyone but the best. The best property management company in Clackamas already has a reputation within the industry. When you purchase the homes that will go into your portfolio, ask the honest opinion of the real estate brokerage you bought the property through. They know what is happening in the local market better than most.
As an investor in income property, you will be looking for the following:
Local expertise:
You absolutely must have a property management company that is deeply involved with the local market. The company you want will know what the local rents are for properties comparable to yours, and they will have a well-defined plan for marketing your properties.
Strength in marketing:
Now that you have rental property, you will realize the sole source of income is from the rent. If the unit is empty, the cash flow is seriously disrupted. To maintain occupancy to the maximum, you need a property management company in Clackamas that has a powerful and proven marketing plan.
Fair cost:
Do not be overly tempted to turn your valuable property over to a manager that promises low costs. There is no way to cut corners and at the same time do a good job. A manager that charges little will have to make up for it by having as many clients as possible, and the quality of service will suffer, Without a property manager who takes genuine care for the property, you may find that you have longer vacancies, poorer tenants, and higher maintenance costs.
Keen awareness of costs:
Regular property inspection means lower maintenance costs. When a small problem becomes a big problem, it becomes more costly to repair. Stay with a property management company in Clackamas that understands the lower the maintenance costs the higher the income.
Transparency:
You will want access to reports on all aspects of your investment. You will want financial statements and operating reports as well as copies of leases and maintenance schedules. Without information on a timely basis, you may be denied opportunities.
The best property management company in Clackamas WA is Oregon’s finest – Real Property Management. Call today at 503-850-4508, and work with the pros.
