4 Tips for Choosing a Property Management Company

Whether you own additional rental homes, apartment buildings, or other commercial properties, you may need assistance managing them. That’s where a property management company comes in. A property management company can handle such tasks as communicating with tenants, preparing for new tenants to move in, ensuring properties are regularly maintained, and more.

That said, not all property management companies are created equal. You need to carefully evaluate your options to ensure you’ve chosen property managers you can trust to deliver reliable service.

The following tips will help. If you’re planning to hire a property management company in the future, keep them in mind.

Check the Basics

Before researching a property management company’s reputation, familiarize yourself with the requirements property management companies in your state must meet to be considered legitimate operations. For example, in California, property managers must be officially licensed. If a company or its employees don’t have the licenses required in your state, you can immediately reject them as an option.

Ask for Testimonials (but Also Look for Reviews Elsewhere)

Property management companies often include sections in their websites featuring testimonials from happy clients. If a company you’re thinking about hiring doesn’t have such a section on their website, ask a higher-up at the business if they’d be willing to provide such testimonials.

A property manager who genuinely serves their clients well will be eager to demonstrate this by complying with your request. Be suspicious of any property manager who’s reluctant to share what current or former clients have to say about working with them.

However, it’s worth noting that a property manager who’s been in business for a few years may have been able to convince some clients to provide glowing reviews, even if in general their clients actually tend to be disappointed in their services. Naturally, a property management company will only provide or showcase reviews that depict them in a good light, hiding any negative commentary whenever possible.

That’s why you should also look for reviews of property management companies on their Google Business pages, social media pages, and similar platforms. Business owners typically don’t have the option of controlling who does and doesn’t get to leave reviews on these pages. Thus, if a property manager is falsely representing their business by only showing positive testimonials and not mentioning the substantial negative feedback they’ve received from past clients, you can avoid being tricked into hiring a company that isn’t deserving of your business.

Check Awards

This is an easy way to determine which options should stand out the most when putting together your list of property managers you may consider hiring. If a company has earned local or industry-specific awards, that’s a good sign they should be near the top of your list.

Consider Specific Needs

Not all property managers deliver impressive service. However, even property management companies that serve some of their clients well nevertheless might not adequately address your specific needs.

Many property management companies specifically manage certain types of properties. For instance, if you’re looking for someone to manage several large apartment complexes you own, you probably shouldn’t hire someone who almost exclusively manages small rental homes. Regardless of their reputation, they simply might not possess the skills and experience necessary to handle this job.

When interviewing property managers to determine who you’re going to hire, ask them to cite examples of current or previous clients whose needs are most similar to your own. You must confirm they’re qualified for the job based on their past work.

Most importantly, don’t rush into this decision. Take your time to follow these steps and conduct additional research before hiring a property manager. Doing so will significantly boost your odds of hiring the right team.

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