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5 Tips For Hiring a Property Management Company

Rental investments can feel daunting to many property management landlords. But, is an investment model that has stood the test of time. Despite the slump in 2008, the American real estate market has picked up momentum, and so, it’s back to attractive returns for landlords, and property owners. So among the different modes of real estate investment, Rental property has been at the center of attention for property enthusiasts. Rave Property Management understands that through careful Rental Market Analysis and professional management practices, people have been able to gain the maximum out of their property.

We know this because we deliver the Rave Factor. (Learn more here about the Rave Factor).

An essential aspect of purchasing a rental property is its management. Being a landlord isn’t everyone’s cup of tea. It requires you to take control of the property in a different dynamic, and respond to tenancy needs. But, it’s not just the tenants you have to service; you have to take care of a plethora of things like filing taxes, maintaining occupancy, handling maintenance, running inspections, and much more. This is where a property management company comes to the rescue. We help a landlord figure it out and move things along. We deliver results and peace of mind.

But hiring a Property management company is not that straight-forward. Here are five tips to consider before hiring a firm for your rental property.

Tip #1: Experience

The first thing you need to look for in a management company is the experience. There are professionals out there who specialize in the type of property you own. It would be great if someone with knowledge of managing a property like yours is interested in maintaining things for you. If you are new to the property investment business, having an experienced company behind your back will help you increase your profits.

We at Rave Property Management check the experience box as our company boasts 25 years of experience in the residential, commercial, industrial, and warehouse property management sector. Our expertise in this industry makes us the pioneers in the Austin Property Management market and it’s surrounding areas.

Tip #2: Referrals

It’s always good to ask for references. You can ask your friends and family in the real estate investing business to recommend some useful property management companies they know. The referral system allows you to trust or even ask for a particular manager from their staff to help you out with the property. It’s like a foot in the door.

Continuously over delivering and challenging the “status quo” has had our customers raving about the amazing experiences they’ve had with us. Our continuous engagement and experience have enabled us to create a company based on loyalty and commitment. Our Rave review of testimonials speaks for itself.

Tip #3: Tech-Friendly

Technology has changed the way real estate works. While you interview potential property management companies, make sure they are tech savvy. The right use of technology can help you get the best rent for your property. Also, most companies offer a rental market analysis that helps you look into investing in other properties to expand your portfolio for the seasoned investor.

Our software uses a state of the art property management platform, AppFolio Property Manager. The software enables us to market properties and fill vacancies sooner, price the rentals right, screen the best tenants, collect and disburse funds, create easy to read reports, communicate with owners and tenants, handle property issues faster, and much more. This tech-friendly practice has enabled us to step ahead of our competition and help landlords optimize their property management needs.

Tip #4: Services Offered

The services provided by each company are different. It is either dependent upon the money you are willing to pay or the experience the company has under its belt. Before hiring a property management company, make sure you compare packages and ask for what will be included in the services. Once you agree on a deal, services can start rapidly. Therefore, make sure you understand your property’s needs and hire a company accordingly.

From Austin property management services to consulting with landlords, we perform a rental market analysis and provide owners with leasing data. Rave Property management covers a wide range of services for its valued customers.

Tip #5: Agreements

Once you agree upon working with a company, ask for their contract terms or agreements. It’s essential that you know terms, guidelines, and policies that govern the relationship. And ask to take a look at what conditions are included in their contracts. There’s a possibility that you change your mind. In such cases, the decisions you make will be dependent on the agreement you signed initially.

But, we at Rave Property Management believe in transparency, commitment, and satisfaction. So, if for whatever reason the contract needs to be terminated, a 30-day written notice is all that’s required. We have a no termination fee policy. Your satisfaction is our guarantee.

Bonus Tip

Other than the 5 tips we shared, you can compare at least 2 property management companies. But, the team at Rave Property Management are all in for a Rave Experience and take pride in delivering the Rave Factor. Which is why we welcome questions from our clients that help us improve better. Here are some questions you should ask a property management company before hiring them. They will help you position yourself better and know about the way the company operates.

  • How Will the Tenants Be Cared for and Serviced When Needed?
  • What Are Your Contract Terms and Fees?
  • How Deeply do You Know the Market of This Area?

So, we welcome you to reach out to the Rave Property Management team to learn more about our services and or head here for videos.

Receive a FREE Rental Market Analysis and FREE consultation by clicking here. Or fill out the form below and we’ll be in touch right away.

 

Posted by: ravepm on June 5, 2019