If you are seeking to hire a property manager, then you are undoubtedly wanting to save time on your investment properties or rental properties. There are several questions that you should ask rental property managers before you pick the company or person to hire. Asking the right questions will help you get the best Raleigh property management company. Here are 7 things to consider shared by the team at Barker Realty.
1. How Will You Market the Property?
Marketing helps potential tenants know about the property. The way a property is marketed will determine whether it stays full or has vacancies. There are numerous ways to market the property on the internet. The most popular places to market the properties are MLS, Craigslist, Zillow and their website in order to gain exposure to searchers for rentals. Think about the various ways property managers can reach people these days; online, mailers, yard signs, etc. There are many options to take into consideration.
2. How are Tenants Screened?
You have to carefully select your tenants or have your tenants selected on your behalf. You need tenants who will make timely rent payments and keep the property in good shape. If tenants are thoroughly-screened, this can help you avoid a lot of headaches in the future. You should feel confident that your property manager will implement thorough due diligence in the application process. Ask about the systems that are used to check background, credit and rental history.
3. How Close is the Office to Your Property?
If your property manager has an office that is close, then that will make things more convenient for you for meetings and communication. You need someone who can take care of problems even if the problems occur after hours or over the weekends/holidays.
4. Will You Explain the Process to Me?
A good property manager should be able to confidently and concisely explain everything to you in a way that you can understand. You do not want to hire someone who cannot explain what they are doing or are unsure with how to handle a specific situation that can and most likely will arise with tenants from all walks of life.
5. How Do Property Managers Charge for Repairs?
Some property managers will up-charge a fee for any repairs. Others will take a percentage of the repair costs. You need to inquire about this before you hire and get in writing within your respective agreements.
6. Will I Be Charged When the Property is Empty?
You should find out whether you will be charged a fee when the property is empty. You should also ask if you will be charged if the tenant does not pay rent.
7. What Other Fees Will I Be Charged?
Identify your total cost for hiring any rental management company from small to large costs, setup, or ongoing fees. Your property manager should explain the fees to you in detail and again, get everything in writing through an agreement. It will be worth it in the long run and if you plan to expand your investment property portfolio.
Barker Realty will be able to answer any and all questions you may have about property management and all of the minute details that accompany it. If you are interested in a Raleigh property management service like Barker Realty, contact us today for more information or to schedule an appointment.
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