There are so many reasons to partner with a property management company. With a trusted and experienced property management company, you can have better protection against potential legal issues, gain a better footing on finances, and reduce vacancy rates.
Overall, they can help your investment be a greater success by offering the help you need to move forward. But you may be wondering what to look for when selecting a property management company since there are plenty of options to choose from. We recommend asking the following questions:
How much do they know about your local area?
Having a strong knowledge of your local market is important. You’ll need a property manager who knows the local laws and what similar properties are priced at. This knowledge can help you stay in compliance and ensure your rental has the right price tag to attract suitable tenants.
Do they offer a thorough screening process?
Finding the right tenants is crucial for your investment to be a success. Choosing the right tenants reduces the risk of damage, unpaid rent, and high vacancy rates.
Are they effective communicators?
You need to be able to rely on your property management company. You need someone who is helpful and easy to get a hold of. How well do the property management companies you’re interviewing communicate? Are they helpful? Do they respond quickly to your needs?
How experienced are they?
An experienced property manager offers the expertise you need to succeed. They have extensive knowledge from working with other clients and know how to manage different types of properties, including commercial, residential, and short-term rentals.
Do they seem organized?
Once you partner with a property management company, they represent you. You want to know that the company you choose is organized so you can have confidence they’ll keep adequate records of your tenants and finances.
Do they know how to market?
You need to choose a property management company that shows its ability to market well. Can they increase the visibility of your rental? Do they offer online listings with high-quality photos? Do they know how to target the right tenants?
Are they up to date with the times?
Do they have an option to allow tenants to pay rent online? Many tenants prefer this method. it also benefits landlords, since it encourages on-time payment. Does the company you’re looking at market their properties online? What other technical advantages do they offer?
How transparent are they?
It’s important that a property management company has integrity. Are they honest with you? Partner with a company you can trust and that’s transparent in their communications. Any property management company worth its salt displays all of its charges upfront.
Can they handle the finances?
Find a property management company that can effectively handle your finances. You want someone who is organized and experienced.
Do they make decisions on a long-term or short-term basis?
When making decisions about your investment, it’s important to not just look at short-term needs but also what’s best in the long term. You want to partner with a property management company that looks to the future and makes adjustments as necessary.
We know how important it is to make a careful and informed decision when choosing a property management company to partner with. One of the things to look at when considering your options is a company’s brand promise. Ours says it all:
- Effective Communication: We recognize that your property/community is important to you and that you want to be informed about how we are managing the property/community. Our brand promise is our commitment to communicate with you frequently, consistently and by the means most comfortable for you (phone, email, web and in-person). With tens of thousands of clients doing business with PMI, we manage a large volume of communication every day.
- Honesty & Integrity: We demonstrate honesty and integrity by doing the right thing and doing what we say we will do. To us, the greatest evidence of honesty/integrity is our clients’ willingness to refer us to family and friends or post a positive review about our services online.
- Accurate Accounting: As with any asset, accurate accounting is essential. Delivering best-in-class accounting practices to you is core to what we do! It might surprise you that PMI processes over 10 million accounting transactions every year. And this number is growing!
- Availability of Management Team: If you need to get in touch with your manager, don’t worry, each PMI office is locally owned and operated. We are a part of your community and available to you! In fact, PMI has 2350 offices across the nation so no matter where you have a property, PMI will most likely have management available for you.
That’s not all you can expect from us. We also provide a thorough screening process, boast years of experience, and offer excellent marketing. What’s more, when you partner with us, our local property manager will assist you every step of the way. Learn more by visiting our website today: .
