Being a landlord is a challenging task especially if you have multiple properties to look after. Aside from properly maintaining your building, you also need to satisfy your tenants’ needs and requests so they would love to stay in your property longer. Luckily, there’s an easy way in making your responsibilities as a landlord way lighter than you can think – by hiring a property manager. However, you should be careful in choosing property managers to be assured that your property is in good hands. Are you curious on how to pick the right one? Read along to learn more.
How Many Properties are They Managing
First thing you need to know when choosing a property manager is to know how many properties are on their hands. Usually, well trained property managers can handle around 30 to 40 units. If they are already handling more than that number after giving them several more units to manage, it would not be efficient anymore. Better find another one who has fewer properties to manage to be assured of the quality of his work. Check out this property recruitment company London for trustworthy and competent property managers.
Know if They Own Properties
Sure it seems nice if the property manager owns a few properties, given that they can better relate to how other property owners feel. However, it would seem that you are in competition with them especially when you own similar properties. You can’t be sure if they’re filling in your property first or theirs. Better yet, choose one who don’t own any property to be sure that he’s focused on your property.
Frequency of Inspections
When interviewing prospective property managers, try asking them how often they plan to conduct inspections on your building. The more frequent they do means the more dedicated they are to their responsibility to you. However, watch out for some who charge an extra fee when conducting property inspections. Regular checks are part of their responsibility and must not be charged.
Acknowledges Your Needs as the Owner
Great property managers do their best in keeping their client happy and well accommodated. You’ll know if a property manager respects you and your needs when they listen fully to what you have to say. If they keep on stopping your sentences or doesn’t listen to our point, surely you would really have problems with them later on.
Efficient Systems and Reporting
Tenant management systems really help a property manager in creating their reports or sample outputs. There are lots of automated tenant management systems out there but it is up to your property manager on which one works for him best. If he’s not using these systems, it may be a little hard to get some results and insights on how your property is working.
Stick to the Due Date
With the use of tenant management systems, your property manager can efficiently collect the rent from the tenants on time and send it to you afterwards. If the tenants don’t pay, then you have the right to wait for them and personally collect the payment.
With all those benefits mentioned above, you’ll never hesitate to hire a property manager who is fully equipped with both knowledge and tools.