Property Management Guide

Guide to Choosing the Right Property Management


Whether your real estate investment pays off will depend a lot on your chosen property management firm. But the glut in property management companies in the real estate market and the entry of new ones can prove problematic. How do you tell the difference between competing organizations when most of them provide similar services and make similar claims? Read on for some advice on how to find the right fit for your property.


1. Look for referrals from several sources.


Word of mouth can be your initial clue in looking for a property manager. You can learn some of your options by conversing with real estate agents or property owners in your local area.


Ask for a list of the Arizona property management firms they have used in the past or are presently using. Take note of the things they are satisfied with and the things they are unhappy about.


Know that a referral can be partisan. This is the reason it is sensible to get recommendations from a number of sources. A property manager or firm should be exceptional if you hear it does a commendable job multiple times.


2. Conduct an Internet search for property managers.


Carry out your own research in the World Wide Web. You can input the dimensions and location of your property in some websites and they will generate a listing of property management firms near you.


Before setting up a face-to-face meeting with a property manager, check out also the company's reviews posted online. Have down pat the customer rating the company gets and if there are complaints filed against the firm.


3. Look over their current work.


Visit the actual realties they oversee. Are the premises clean and properly maintained?

You can get firsthand information by interviewing the tenants the property manager is in charge of. You want the property management you will hire to make you happy so ask the tenants if they are happy with the management. Watch to understand more about property management.


You may want to know if tenant's complaints are promptly addressed. Ascertain how long it takes for a maintenance problem to be fixed or a repair to be completed. Observe how clean and how quiet the building is. Question the tenant if he intend to sign a new lease with the property manager and his reasons for renewal or non-renewal. Knowing the answers can aid you in your decision whether to hire the same property manager or not.


You should also ask to see samples of the kind of monthly report you would be receiving from the property management company. Include the property manager/management company's license and certification among the things you may want to check. Check if their brokerage license is active and if they have been certified by a trade organization. Please check out if you have questions.