Let’s be honest — not all property management services are created equal. While some are passionate to help tenants thrive, it’s simply just a job for others.
No matter where you live, the quality of your property management company matters. In fact, some real estate investors would rather have no property management company than one that delivers poor services! And, that’s why we’re here to help! Here are the top 5 tips for finding a reliable property management company near you.
1. Use the Internet For Your Search
Finding a local property management company can provide several benefits. For one, they’ll be well acquainted with the culture and environment that your property is established in. That’s important because they will know how to cater to a tenant’s needs more than a total stranger. Secondly — since management agents will be nearby — there’s a stronger line of communication between you, your agent, and your tenants. With less transportation time from the agent and great communication, problems can be handled seamlessly and without delay.
Now, how exactly do you go about finding a property management company near you? Well, we have a couple of options. Two ways would be the classic newspaper ad or word of mouth, but the better way is to harness the power of the internet! The quickest method would be to go on Google and type “Property management companies near me”. Once that’s done, you’ll see a list of nearby property management companies, and can choose to filter by rating and their opening hours.
2. Look at Reviews From Both Angles
Looking at both customer and employee reviews won’t matter that much for your favorite chocolate bar, but it will certainly matter for a property management company.
No matter how qualified a property management agent is, factors like company culture may affect how well they work. For instance, let’s look at an imagery company that barrages its agents to take on as many properties as possible. If you read an employee review that talks about being overwhelmed or overworked, it’s a sign that you should avoid that company. Utilize services like Glassdoor and Indeed to find employee reviews for the companies that you are considering.
We’re stressing the importance of employee reviews, but you should definitely research customer reviews as well! One precaution that you should take into account are fraudulent reviews. To spot a fake review, be cautious of reviewers that have no profile picture, generic names, and have only reviewed this particular company.
3. Review Their Website
Having a website isn’t just an afterthought anymore — it’s the framework for any business. Look at your list of property management companies, and try to visit all of their websites. If a company has an outdated website or no website at all, that’s a big red flag! It shows that the company doesn’t really care about their business or staying up with the times.
Here are two more things to consider when reviewing a website — speed and content. Having a quick and fluid website is important because many tenants prefer to pay online and at their leisure. For each website, check out the tenant portal or payment area, and evaluate its ease of use and loading times. If the website is incredibly slow or glitchy, your tenants’ overall experience will be tarnished. Now, what about content? Well, content is king. It is important to take the time to read through the website to ensure that the company is knowledgeable and experienced in the field.
Reviewing each website will take time, but you can eliminate many websites just by looking at their overall appearance. For the companies that pass your first impression, it is important to thoroughly review them. That’s because the quality of a website will tell you how passionate or reputable a company actually is.
Plus, there will be important information on each website that can not be found in reviews or testimonials. Information like what areas the company serves, prices, list of services, and policies are important to consider when choosing the right property management company.
4.Ask Locals for Advice
Locals are a great resource to get first-person perspectives on the local property management scene. Which company has the most hidden fees? Which company has the most influential reach in the area? Is there a company that you should avoid at all costs? Is there a company that will go out of its way to make tenants feel comfortable? Are tenants renewing their leases? These are all questions that locals might be able to answer. Not only should you reach out to tenants, but try to reach out to landlords and real estate investors as well.
Online reviews might paint you pieces of the picture, but talking to locals is more genuine and can offer you the clarity to make the final decision.
5. Make Sure The Company Is Reputable
By now, your list of potential property management companies is probably small. The very last step is to ensure that the company is actually reputable and has experience to back them up. Thankfully, it’s easier now than ever to see how trustworthy businesses are. Consult the Better Business Bureau, plug in the name of the company, and see if they have a rating that’s higher than B. A majority of the time, you don’t want to work with a business that has a rating that’s lower than a B. While the Better Business Bureau isn’t affiliated with the government, they do take the validity of reviews seriously and the service can be trusted.
Another indicator of a company’s reputation is how big its clientele is. If a property management company has a large client base, it means that the company is well-connected and established in the local area. With a large client base, the company also has the experience to benefit you and make its services worthwhile.
Find a Company That Matches You
Researching and scoping out each company will take time. But, it is important to think about the long haul. By finding the perfect property management company that matches your needs — you won’t have to micromanage or fix mistakes that you didn’t make. Trust us, taking the time to research will pay off and reward you in the long run!