While many people believe landlords have it easy, that they just own property and get money from the people living in it, it’s often a job that gets taken for granted. Being a landlord is time-consuming and overwhelming. Landlords have to make sure their property has good, vetted tenants; they have to deal with all the compliance from their tenants, maintenance, routine checks, etc. Not to mention they have to know the federal and local laws of this niche. Hiring a property manager to oversee this complex job is relieving and worth every cent.
However, there are many property managers out there. How do you know the one standing in front of you is the right person for the job? Let’s talk about the signs of a good property manager.
They remain professional in every situation
A business partnership comes with many challenges. People get into disagreements, someone has to work overtime to meet the demands of the other, a rule gets broken, and so on. It’s important the property manager doesn’t lose their temper and remains goal-oriented, communicating efficiently.
It’s also such a stressful job. The phone might keep ringing all the time, it might be hard to go to the property, the vendors might cause unexpected issues, etc. The landlord should pay attention to how the property manager handles all these problems together and how he is multitasking. It can be easy to get overwhelmed and complain, but a good manager focuses on fixing the issue.
Even though the landlord chooses to outsource his duties, he still needs to be kept in the loop. This can not be done if the property manager is not a person you can easily communicate with. There are early signs you can look out for: they answer their phone quickly or call you as soon as they can, emailing them seems like texting, and they inform you fully of the process without leaving much room for confusion or questions. Also, look at how they answer questions. They should take their time in giving you details and composing a prompt answer. In no way should they appear to avoid certain answers or leave out anything.
Sure, we all like our schedules and get comfortable settling into a routine. However, property managers should throw out their comfort and invite flexibility in. Dealing with tenants might mean they have to make an unforeseen property visit, they might go and do repairs at the last minute, and the list goes on. When you’re dealing with people, things come up. If you see signs that they won’t be willing to compromise with their time, it might be better to consider seeing other experts.
They keep their word
Nobody likes someone that doesn’t follow through. We may get over it in our personal lives, but it might be a deal breaker in business. This is one of the most important characteristics you need to look out for in the very beginning. Keep in mind what they say they’re going to do and watch if that thing has been done, when, and how they established it. According to these Orlando property managers if you see they don’t do something like they said they’re going to do it and they don’t bother to inform you why they’ve made changes to the plan, or they postpone and delay delivery, it might be a sign they’re going to keep doing this for the rest of the collaboration.
They have contacts
Good property managers will not come only with their skills; they will also come with their relationships and contacts. They may have a list of qualified tenants waiting for the news that a new, vacant property is available for them, reducing marketing costs and efforts to almost 0. They should also have reliable vendors that will conduct inspections, do maintenance, and reparations. Oftentimes, these vendors that work with them also offer exclusive prices to the property manager.
They have good feedback
A good property manager doesn’t shy away from letting his work and his clients speak for them. They should have a reviews section somewhere online. If the landlord doesn’t find it, they can ask the manager to give them access to feedback, be that in a referral or testimonial.
Choosing a property manager or assessing if the one a landlord already works with is a big factor in the future of the investment property. They can make the landlord’s profit skyrocket and worries go down, or they can add more complications to an already heavy job.
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