How to Get a Good Property Manager

WHEN SEARCHING FOR A GOOD PROPERTY MANAGER

1)   Do your homework – Do a full background check on the agent you want to hire and the company they are with.  Look them up with the BBB & RICO (Regulated Industries Complaint Office)  You are entrusting this person with a HUGE asset of yours.

2)      Cost – What is this person going to do for his/her fee?  The more they do the higher the cost.  You want your manager to give you the most service for the least amount of cash.

3)      Inspections – A lot of property managers inspect units once a year.  This doesn’t help you if they’ve put a bad tenant in your unit.  You won’t know you have a problem until your place has been destroyed.  Look for quarterly inspections done by a property manager.

4)      Screening – Find out how the Property Manager screens potential tenants.  You want full credit & background checks done.  People with good credit tend to keep the units in good condition, pay on time & are less likely to skip out on a lease.

5)      Compatibility – If you don’t get along with the agent while screening them, things will not get better with time.  Your first impression is very important.

6)      References – Ask the agent for references from other owners.

7)      Properties – Find out how many properties the agent manages.  You don’t want to get lost in the shuffle if an agent is overwhelmed with properties.

8)      Experience – You want an agent with experience.  Remember this person is managing your home.

These simple rules will save you a lot of heartache and can also be applied when you are looking for an agent to sell your unit.  Remember, you are buying a service, do your homework!   

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