Before you just hire a property manager and trust him with your valuable assets, there is a little research that you are required to do. With a procedural approach to the hiring, you can find a property manager who has the experience and is completely reliable with the task. Following are a few things you must consider if you wish to hire the best property manager:
This is immensely important when it comes to hiring someone you will trust with a valuable asset. You can achieve this by talking to real estate agents and other property owners you have had the chance of coming across. You can ask them about their experience and see what they have to say about a certain company over another. You should also remember that these recommendations can be very biased. This means that your final decision should not be solely based on what people have to say.
Search Online For Yourself
If you have gotten good recommendations about one or two property managing companies, the next thing you should do is research on your own. There is no harm in seeing if the things you have heard are actually true or not. Besides, a company that has a website is a big positive sign and validates everything you have heard.
Check their Resume
One of the best things that you can do is to look through some of the rental ads published by the property manager. Judge them on the level of professionalism, how compelling they are and whether or not they are discriminatory in any way. Are the ads limited to sources like websites or community bulletin boards or are they more expanded than that?
Look at the properties, gather information from the level of cleanliness they have. One of the best ways to get more information about the property manager is to ask their tenants they already manage. If the property manager is keeping his clients happy, then it means that he will do a satisfactory job when it comes to you and your rental needs. It is important to get the information from the existing clients.
Ask the tenants about how their complaints are addressed. Are they answered in a timely manner? Is their building well maintained? Is their building peaceful and quiet? If not, then why? Asking these questions will help you understand the mindset of the potential property manager. Their performance is the key to you making a decision about whether or not you wish to hire them.
Interview the Candidates
Just as you should interview potential tenants to figure out whether or not you should hire them, you should look at property managers and their companies till you find one you are comfortable with. Your property is very important, if you are not convinced with the person assisting you, use your right to go to another.
If you interview more than one, it will allow you to segregate and categorize who is best and who is not. The difference between those who know what they are doing and those who are simply pretending to have that knowledge will become clear to you. For example, a property manager who is losing half is evicting tenants in a short amount of time would not be advised. Either they do not know how to screen candidates or their luck is supernaturally terrible.
Screening the tenants is just as important. Find out whether or not they are hiding something by asking them pointed question. Notice whether or not they are dismissive to your questions. If they are, it means they are not putting their best foot forward and are likely to be bad tenants. It would be a bad idea to let them into your properly.
The questions should include inquiries about their education, services provided and the fees they charge when it comes to property managers. Be precise and at the end, you will get the best possible service for your home.
You should ask questions about their education and experience, services provided, fees charged and if they have an understanding of landlord tenant law.
James Saget is the author of this article. He refers to the website http://www.jamesgibb.co.uk/ to help people hire effective property managers.