How To Pick The Right Property Management For Your Needs
You are planning on bringing a property manager onto your team, congratulations! Working with the right property management team comes with a host of benefits ranging from:
- Keeping your property rented with qualified tenants who will care for your property
- Having someone handle the day to day operations when needed
- And keeping your financial records ready and readable whenever you need them.
But, like any business, there are good and bad choices-and the worse your choice the more you damage your investment. We can help. Use our tips below to identify and choose the right property management company the first time and keep your property profitable for years to come!
Tip 1: Find A Team With Experience
When talking with property management companies be sure to ask about their customers, testimonials they have, and how they handle challenges. Remember anyone can claim they offer quality service, its a whole other thing to actually have experience doing it. By questioning your company on how they handle situations you learn what to expect when problems arise for your property.
Also, an experience property management company will be able to talk easily and in-depth about all types of issues and highlight resolutions and successes they’ve created.
Tip 2: Look For Industry Credentials
Property management professionals should have affiliations and accreddition with multiple industry groups that regulate real estate operations. The best property management companies will showcase their credentials because they understand that it demonstrates their credibility and experience in the field. Here is a list of the minimum number of groups the company you are considering should have.
- Better Business Bureau
- National Association of Realtors
- National Association of Residential Property Managers
Tip 3: Ask Specific Questions About The Market
When hiring a property manager don’t look for just a handyman. No. You want to look for a firm whose experience will make them a trusted advisor who you can work with to grow your property’s profitability. The best managers will have experience with the region and know the ups, downs, and possible problems of the rental market in Virginia. You want to engage with a manager whose advice and insight can both boost and protect your profits for years to come.
That is why you need to come prepared with a list of questions specific to your needs, location, and unit when interviewing candidates. When reviewing answers look for the company that takes time to address your issues and not stuff you into a one-size-fits-all approach.
Tip 4: Focus On Quality, Not Price
You want to lower your costs as much as possible. That makes sense. However you need to hire the right help right out the gate. Teaming up with the wrong property manager costs more than the most expensive option on the market. Cutthroat pricing leads to stripped down deliverables.
You don’t want your property cared for and looked after by the cheapest possible option. Skip the headaches, bad tenants, and property management problems by picking a property management company on the quality of their service and how it relates to your needs-not price.
Calvin and Ashley are great! They are the reason we can invest in the area from out of state. They have a great network of individuals to address everything we need. They are quick to respond to our every question and concern. Far superior to our other property managers in two other states, so much that we are liquidating those houses to buy more in Richmond for them to manage. Peace of mind is priceless and that is what we have with Keyrenter Property Management Richmond!
Katrina M., Satisfied Client
From Day One, through move in, Calvin and Ashley have been attentive, super responsive and overall pleasant to deal with through this entire process. My husband and I are renting a beautiful property from them, and we couldn't be more pleased. I would definitely recommend them and they'll be our first call if we decide to rent again!
Tamika T., Satisfied Tenant
My wife and I are new clients of Keyrenter Richmond as of May 2018. The experience has been so far beyond what we expected. We had previously dealt with another company for our rental house and had a totally bad experience. Calvin and Ashley took us on and worked hard to provide a quality client and take care of all our concerns. Nothing was left to chance. They are always easy to contact and return emails and calls promptly. If you have property in the Richmond area you would do well to consider Keyrenter Richmond as your agent.
Barry L., Satisfied Client
The service you get with Ashley and Calvin is truly over the top. I was very nervous having someone manage my property. I relocated to a different country, which makes it very difficult to manage a property from a far, and Ashley and Calvin have really made it the easiest thing ever. I wish I found them years ago.
Erin S., Satisfied Client
PROVEN AND TRUSTED