Hiring the Right Property Manager for Your Rental / Income Property
I’m often asked what to look for when picking a property manager. Its a great question, and Ill try to cover a few important points. Although they can sometimes be expensive, they can also save you from many headaches that go along with being a landlord. Im going to ask more questions then Ill answer, but these are questions youll want to keep in mind when interviewing managers.
1 – Cost: Managers generally charge a monthly fee to watch and maintain your property. Those fees can range from as low as 5% or so, to upwards of 20%. Obviously, you should look for a company that charges less and provides more services.
2 – Communication: For me, communication with a manager is of the utmost importance. I need someone who uses email, and is responsive to both the telephone and email. If I dont get a response back in a timely manner, it is time to walk. In addition, you need someone who can deal with you and your idiosynchricies. Some of us are needier then others. You want to let companies know up front where you stand, and make sure theyre willing to be flexible for...
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