You’ve decided to let a property manager take some of the stress of owning real estate off your shoulders, but you may not know how to choose a property manager you can trust.
For many property owners looking to watch their investments grow without a lot of day-to-day hassle, hiring a property manager is a no brainer. Others, though, have been personally managing their own property for a time and are now ready to step back. No matter which boat you’re in, there are some important factors to keep in mind when choosing the right property manager. The first is remembering that not all property managers are created equal!
When you’re ready for help, use our guide and learn how to choose a property manager to care for your investment.
A local property management company like Greyhaven will have a leg up on the competition when it comes to knowing the market. Our years of experience managing properties in the Chattanooga area mean we know which neighborhoods are rising and which are poised for a rebound. We know the local characteristics that make each neighborhood unique. In addition, we can help you price your property competitively to ensure quality tenants and maximum rental income.
So many people are leasing property now, chances are you know several people you trust who have gone through this process before. Ask them which property manager they use, and why. And don’t just ask landlords; ask your friends who rent which property managers they’ve dealt with and what their experiences were like. Testimonials like these are a big help when it comes to choosing the right property manager.
Visit their website
So many prospective tenants are looking for rental properties online that having a polished professional website is a must for any property management company. Look at their website. Is it professional? Easy to navigate? Do they offer conveniences like paying online? Those things are attractive to tenants and will mean your property rents faster.
Ask the right questions
If you’ve ever had to find your own tenants, you know that asking the right questions can make all the difference. Screening tenants before showing the property and reviewing applications not only saves you time but also helps you find good renters faster. It’s no different when shopping for a property manager. Questions like these can help you narrow your focus early:
- Are you a local company with extensive local experience?
- What types of property do you have experience managing?
- How many properties do you currently manage?
- What are the vacancy rates in my area?
- How long does it take to find a tenant in the area of town my property is in?
- What is the current rate for similar properties in my area?
- Which areas of town are on the rise, and which are falling?
- How do you handle repairs? At what dollar level do you contact me for approval?
- What is your tenant application/approval process?
- What are your management fees?
In addition to their answers, take note of how responsive they are. Do they agree to an in-person meeting when you request one? How long does it take for them to reply to your emailed questions? If they are engaged and responsive to you now, chances are they will be when you are a client, too. Additionally, you should put yourself in the shoes of prospective tenants. Would you want to rent from the property manager in question?
Hire a Locally Owned Chattanooga Property Management Company
Greyhaven offers professional property management services, whether you own multiple properties or just one or two. If you’ve made the choice to use a property management company, give us a call at 423-648-6676. We’d love to help make your property work for you.