What Makes a Great Property Manager?
If you’re a real estate investor who has made the decision to hire a property manager, you’ll likely have quite a few options to choose from. Getting stuck with the wrong property manager can cause some serious headaches later down the road. It can also cost you money. Want to know the secrets of what to look for in a property manager? Keep reading!
Finding a property manager that has been around for many years and has established a positive reputation is ideal. However, not all experience is helpful. For example, if you’re looking for a manager for your single-family investment property, a property manager that primarily works with commercial real estate probably won’t be the best fit. Since every type of property comes with unique challenges, you want to work with a property manager that has the experience that matches the situation.
Hyperlocal Market Expertise
No matter how long a property manager may have been in business or how great the technology they use is, there isn’t a substitute for a true understanding of the local market. You want someone who knows the area and knows the people! A property manager that has been working in the same area for a long period of time will be able to put the market’s current behavior in context. They’ll also have valuable connections that may help you keep your property in great shape and your tenants happy.
While you may not want to physically be involved with the day-to-day operations of all your tenants, using a property manager shouldn’t mean you are any less informed on what’s going on with your property. Getting a property manager that communicates with you is crucial. While some of the minor details don’t necessarily need to be communicated, you don’t want to feel out of the loop with your property.
Usually, when you’re interviewing property managers, their ability to communicate well (or lack thereof) should become obvious. You should also see how responsive they are to your calls or emails. If it’s taking them multiple days to get back to you with a simple request, you can’t expect them to promptly communicate with you or your tenants—and their ability to communicate with tenants will also impact tenant satisfaction and retention.
Get Best in Class Property Management Services from Proper Management
If you can find all of these characteristics in a property manager, your investment will definitely be set up for success! ProperManagement takes pride in offering the best-in-class professional property management services throughout California. We are in continuous communication with the property owners. We’re dependable and approachable. If rent isn’t collected by the 15th of the month, management is free for the month!
Best of all, we’ve been dedicated to serving for over 25 years! So whether you need help managing your first investment property or you’re a seasoned investing pro, we make your life a lot easier and a lot less stressful. If you know what to look for in a property manager and are ready to hire, contact us today!
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