The right property management company is a powerful asset for a landlord. But where do you
begin to hire one? How do you find out what your options are? How do you find the best one for
your needs? Here are our tips for finding and hiring a stellar property management partner:
Discover Your Options
To make the right choice, you first need to know what your choices are. Spend some time
googling property managers in the area, look at their ratings and reviews to make sure they
have potential. Really read the reviews to understand the content and root of the review. A bad
review from a tenant, may be a positive review for an owner’s experience.
Another great way to start your list of prospects is to ask for referrals. Turn to friends and other
landlords you trust for their recommendations. Joining your local real estate association can
also be a good way to make connections with people who have already gone through the
process and ask their opinions.
Contact the companies you are considering and ask to set up a meeting so you can get more
information. Meeting one-on-one is a great forum to explain what you’re looking for and learn
more about the company and their views.
Also, don’t hesitate to ask them for references. You can call other landlords that work with the
company to make sure they follow through and do quality work. Ask what services the company
provides to the landlord and see if they have had any problems.
The more you know, the more likely it is that you’ll hire the best company.
The research keeps coming, but when you end up with your perfect property management
company, you’ll be grateful that you put in the time up-front.
Learn more about what their processes are. For example, vacancies can cause big headaches
for the property owner. Some property managers charge a fee for the total number of units while
others don’t charge if the unit is vacant. Also ask how they will advertise and rent out vacant
units before you finalize your property management agreement.
Another process you’ll want to have a firm grasp on is tenant screening and rent collection
methods. As a landlord, timely rent payments and quality tenants are key. Make sure you trust
the property management company to handle these steps for you.
Choosing the right property manager is important and the time and effort you put in now will pay
off in spades when you end up with a great management company.
If you’re looking for a property management partner, call Kunkel Wittenauer Group at
(618) 632-8200. We’d love to discuss your needs and answer any questions you may have!