Every landlord wants to find the best property management company for their rental properties. However, finding a good one can be difficult with so many companies available on the market. There are many things you need to consider before making your decision - such as cost, reputation, and location of the property management company.
In this blog post, we will discuss five questions that you should ask any potential property management company before hiring them to manage your rental property.
1. What Is Your Pricing?
One of the first things you're going to want to know is what the potential property management company will charge. Do they offer transparency with their rates, or do they hide their prices? Are there any hidden fees, or is the quoted price the set price you'll pay? Naturally, you want to make sure that the company you choose is within your budget and honest about their fees.
2. Are There Any Guarantees With The Services Provided?
You'll also want to know the type of guarantees offered by the property management company you choose. For example, how quickly can they lease your home? Are you protected against evictions or damage to your home? What if you're unsatisfied with the results? These are essential questions to understand the answers to because you don't want to pay thousands of dollars and then find out that there's no recourse if something goes wrong.
3. Do You Have References?
When looking for a property management company, it's essential to know their reputation in the industry. Do they have references of happy customers they already work with? Make sure to talk with previous customers to understand what others think of their services. You can also do this by checking out their reviews online through Google or Facebook.
4. Are You A Local Company?
You'll want to know if your property management is local and near your property or if they are thousands of miles away. Locals will always be a better option because they know the area, understand what residents are looking for, and know who to call if there is some type of issue with the home. Distant property management companies may not be able to provide the quality of service and dedication required for your property.
5. How Do You Market Your Properties?
Your property management company should be able to demonstrate or show you how they market their portfolio of properties for you to get the best renters possible. For example, do they use online housing websites, or do they rely on social media? Understanding their strategy and how quickly they fill their properties with tenants will help you decide if they're an ideal company for you to work with.
Find The Right Property Management Company Today
If you need help managing a property in Westchester County, Orange County, or Dutchess County in New York and Bergen, Passaic, and Hudson Counties in New Jersey, PMI Hudson is here. We work with many different properties, from residential to commercial buildings, so don't hesitate to reach out if there is something specific you are looking for.
To get started, connect with one of our experts. Let's get your property rented today!