Sometimes you need a hand managing your rental properties, whether you are an experienced investor or a new landlord. A high-quality property management company can provide that help. While saving some money by doing the management yourself is possible, you should consider the time you’re investing. The old adage “time is money” comes to mind. While you can spend an afternoon fixing a maintenance issue in a rental can save you a bit of money. In the grand scheme, that time could have been better spent investing in other properties or spending it with family, friends, or a hobby. People who use property management companies see it as a tool to save them time, which can, in turn, make them more money in the long run.
When searching for a property management company, there are a few items to consider. Today we’ll go over three main tips to help you find
the
best property management company for you.
Because many times when you hire a property management company, contracts are involved, it's incredibly important to research prospective companies. Thorough research online is a great place to start. While the property management site may have some reviews and testimonials, you should consider finding review sites that aren’t biased toward the property management company in question. Aggregate review sites like Yelp will typically have all the reviews from customers, both positive and negative. These reviews are a great place to start when making your decision.
You can also seek referrals from local real estate agents, landlords, or other property owners. When finding referrals, you should ensure the companies manage the same kind of properties you own. Many companies specialize in different properties, be aware of this fact as it can be an essential factor in your decision.
While the information on a property management company can tell you plenty of information, you may need to make a call. You can narrow your choices by scheduling interviews with the property management companies you are interested in. Ask questions about the kinds of properties they manage and if they manage many properties in Long Beach. This is an important question to lead with. If the company works exclusively in Long Beach, it will likely have faster response times, know the local laws better and have local tradesmen in cases of emergency repairs.
Other questions to ask about include their tenant screening processes and major maintenance procedures. Ask about anything that isn't overtly specified on their website. By taking the time to speak with you, you can evaluate their professionalism, responsiveness, and how well they are at communicating.
You must do business with a property management company that holds the licenses and certifications required by California and LA County. This will provide proof of compliance with regulations and show their professional standards. You should also look into their insurance, what it covers, and how it can help in protecting your property.
The property management in question and the tradesmen they work with, such as electricians and plumbers, should also be researched, as well as any other services they may use.
By using these three tips, you can make it easier to find a reputable property management company. One that suits your specific needs to help manage your properties. If you need help finding the right property management company for you or would like to ask us about our services, we invite you to call us today at (562) 888-0247, or you can fill out our
Owner Application online.
