How to Select a Residential Property Manager

When you start researching residential property management companies, you will find that all of them promise to do a great job and keep all clients happy. Of course, you know this is not true because all businesses cannot be perfect. You want the property manager that you choose to be excellent and provide all of the services that you need. There are a few key points you want to explore to ensure that you choose a great manager.

Look Locally

You need a property manager who is in close proximity to the properties you need them to manage. When they are close, they will be able to quickly respond to tenant concerns and maintain your property. Your manager should also know the area well because this is critical when it is time to rent your property. When she knows the area, she can attract more qualified buyers by not only selling them on your property, but on the neighborhood as a whole. She will know about the things that renters in the area look for and will be able to properly highlight them.

Check for Proper Licensure

Each state has different licensing and documentation requirements for property managers. Take a little time to learn about these and then make sure that the manager that you choose satisfies all of these criteria. You should ask directly to see the documentation that proves that the manager has the appropriate licensing. All legitimate property managers will have no problem providing you with this information.

Ask About Past Experience

A property manager’s past experience tells you if they are able to adequately handle your rental properties. Make sure to make note of what you require and ask about their experience in these areas. For example, if you need the property manager to write the lease, ask if they have lease writing experience and ask to see copies of other leases they have written.

Get a Plan in Writing

You need to know that both you and your property manager are on the same page. Have them develop a plan for managing your properties and put this in writing. Once the plan satisfies your needs and wants, you should both sign it together. This ensures that the manager will take care of everything you require and since you are both signing it, you can be sure that they are clear on all of it.

Once you narrow down your list to a few residential property managers, you want to take the time to look closer. Ask for references and make sure you call them to verify the claims the manager makes. You should also do a little research to see what past and current clients are saying.

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