How to examine a property management company’s organization
Have you been thinking about hiring a property management company to professionally manage your portfolio of rental properties?
Hiring a property manager is a smart decision to make but, in today’s world there are a wide variety of companies that claim to specialize in Property Management, especially in Florida, that’s why before hiring just any company to manage your rental properties you should examine a property management companies organization before you choose to hire them.
How To Examine A Property Management Company’s Organization
Examine Their Background – During the process of researching a property management company’s background you should specifically be looking for different things including if the property management company has 5 years worth of experience or more, if they manage properties in multiple markets, and if they may have changed their name in the past because of problems or mismanagement issues that they had with other customers.
Learn More About Their Areas Of Expertise – While you’re researching a property management companies background, you should also be paying close attention to their areas of expertise. Specifically, you should be asking them if they have managed residential rental properties exclusively in the past or if their portfolio has included a combination of both residential and commercial properties.
Are They Knowledgeable? During the process of learning more about a property management company, you should also be paying close attention to the level of knowledge that they have. To do this, you should take the time to meet with one or more representatives of the company and ask them hypothetical property management scenarios to see if they have rock solid answers for you or if they’re willing to dance around the question without providing a real answer.
Anyone who is unwilling to provide a solid answer to a property management question most likely is inexperienced and should not be trusted to provide you with the property management services that you need.
Investigate Their Licenses – While thoroughly investigating a property management company you should also be learning more about the license that the owner of the property management company currently has.
An individual who wants to function as a property management company must have a brokers license, so before hiring just any company you should ask to see their licensing information to verify that they are indeed operating illegally as a property management company in the state.
Check Out Their Team – Yes, investigating a property management company can be a lot of work but it’s definitely worth it. Another important thing that you should do during your investigations is to learn more about the property management team.
Specifically, you should verify that individuals who work on the team dress and function professionally because those individuals will be managing your rental property on a monthly basis and you want to have complete confidence in their professional services.
Check Out Their Portfolio – Last of all, but most important, another thing that you should do when investigating a property management companies organization is to review one or more of the properties that they currently are managing.
To do this, you should take the time to actually drive out to where the property is located, visually inspect the maintenance of that property and even take the time to knock on the door to ask the tenant lives there if they are happy with the level of service that they’ve received from the property management company or not.
Doing your due diligence to investigate a property management company will help you to hire the most qualified property manager to manage your rentals and ensure that you receive the excellent service that you deserve.
Contact Miami Property Management, LLC
To learn more about the services that Miami Property Management, LLC can offer you, contact us today by calling (305) 428-3904 or connect with us online through our website.
Leave a ReplyWant to join the discussion?
Feel free to contribute!