Some people hire a property management company simply to collect rent, place tenants, and manage maintenance. However, there’s a lot more to the role than that. When you’re looking for a professional management company, make sure you’re hiring a team that can help you earn higher returns and keep your expenses low. These are the 5 things that all of the best property managers do for their clients.
Responding to Owner and Property Needs
A good manager will be intuitive about what you need, and willing to provide it. You want a property manager who understands your investment goals and the intricacies of your property. Look for a professional who listens well and responds to what you want and need.
Experience and Expertise
There is no sense in working with a property manager who cannot deliver the results you expect. Every management company is going to want your business, so they’re going to do a great job making promises and offering plans. Ask to see proof of their results. A good property manager will be able to demonstrate actual situations where they helped their clients earn more money on their investment, protect their asset, and keep expenses down. If you know your property management company has performed well in the past, you can trust they will do just as well for you.
Professional Asset Management
A good property manager will treat your property as an asset, and be sure that your investment both saves and earns you money. Look for companies that can provide their own maintenance services with reasonable rates or other services that go beyond what most other companies can do for you. Look for something that stands out, and is well-positioned to help you earn more and grow your portfolio.
Exceptional Legal Knowledge
Owning rental property means taking on liability. When you hand your investment over to a management company, you need to be sure they know all the state, local, and federal laws, and that they stay updated regularly. From fair housing requirements to retrofitting requirements, you need to know your property manager will protect you from potential lawsuits and legal issues.
Skilled and Talented Team
Your property management company should be proud of its team members. Get to know all of the staff members who will be working on your property, and ask about the systems and procedures that are in place to keep everything running efficiently. You’ll want to know about technology and software systems, as well as what leasing agents do to show a property or process a rental application. Everything should be transparent.
Always look for excellence when you’re shopping for a property management company. If you’d like to hear more about our services in the southern California area, please contact us at Los Angeles Property Management Group