Wednesday, July 09, 2014

Tips on finding good Property Management-

 If you’ve purchased an income property, you’ve probably learned in short order that it takes a lot of time and effort to keep it in good repair and to collect rent. The money you have and will save from doing it all yourself doesn’t seem to be worth it and now, you’re considering hiring a property management company.

You won’t have the worry and stress of making repairs, collecting monthly checks, and dealing with things like screening and eviction, which can be quite unpleasant. An income property is only a steady form of passive income if there’s not a lot of effort being put into it.

Finding a Professional, Reliable Property Management Company for Your Income Home

To find the right property management service, you’ll have to do a lot more than just dust off and crack open the phonebook or do a quick search online. Getting a reliable, affordable property Management Company can be done by doing the following:

      Ask anyone you know and trust that has an income property. If that’s not an option, then you’ll have to start by searching the Internet. You’ll want a local service because that company will know the area and be available at a moment’s notice.
      Compile a list of potential hires, then check each one out. Start with the local Better Business Bureau, taking note of each company’s rating and complaint history. Then, search online for civil lawsuits on the clerk of the court’s website which name the companies as a defendant.
      Call each one and ask for information about what services they provide. Some will offer more than others and you should compare and contrast. Choose the ones that best meet your needs, then ask each one that makes the list for a list of the properties they manage. In addition, ask for occupancy rates of the homes they service.
      Drive by each address and check out those homes. Take notice of things like the condition of the exterior, lawns, fences, and pool, if applicable.

Get quotes from each service, which has not been taken off your list, then read over each one. Be sure to see how they handle things like maintenance, tenant screening, and the eviction process. Don’t simply choose the one with the lowest rate because it’s likely that company will not offer as many services for your income property. Ask for a guarantee and that will reveal which company stands by it’s reputation.

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