Investing in Real Estate can help you generate a stream of ongoing income and build wealth. However, with any growing investment, there will come a time when additional resources are needed. For investment and rental properties, this is where a property manager can help, but it’s essential to find the right manager. Hiring a reliable and reputable manager will be highly beneficial in the overall success of your investment.
Here are 5 questions a Property Owner should ask in order to find the right Property Manager in Central Florida.
#1 Do they offer the services you need?
This is the first step in any search for a particular need and there is no difference when it comes to the management of your property.
From marketing the property and finding the right tenant to dealing with maintenance requests, background checks, or the move-in and move-out process, research all of the services that they provide. More specifically, find out if they cover all of your specific needs.
#2 What does their reputation say about them?
Researching a professional before you’ve even reached out to them has never been easier. First, find out what their online reputation looks like and thoroughly read through the reviews.
What is the overall consensus of doing business with them? How does their website look? Second, how long have they been a property manager? If you can’t find adequate examples of their work, ask them to provide some. Be specific in what type of examples you would like them to provide.
#3 Is their experience in your market?
Learn what experience they have in managing properties similar to yours. Keep in mind, this is not referring to just experience in the same type of property. Do they have experience in the market where your property (or properties) is located?
What does their marketing strategy entail? Do they manage other properties nearby?These are important factors as each market is different when it comes to marketing, pricing, and tenant expectations.
#4 How much support do they have?
The reputation of the property manager is important to the success of your portfolio, but the reputation of the company they work for is just as important.
Similar to the questions asked about the individual, point those same questions at their company. How long has the company been in business? How experienced / prominent in the area is this company? Will a tenant be more inclined to consider your property when they see it is managed by this company?
To go even further, what resources does this company provide the property manager that makes them successful and in turn makes you successful?
#5 Do you feel comfortable with your choice?
After you’ve done all your research and have a clear understanding of their capabilities – make sure you feel confident and comfortable with the manager. Have an in-person interview and really get to know them. Determine if you will work well with this individual. Ask yourself, would you rent from this individual?
Finding the right property manager is not an easy task, but asking the right questions will really help ensure your continued success for years to come.
Learn what a Property Manager in
Central Florida can do for you:
