Managing your properties is a full-time job and can be overwhelming, especially if you have other day-to-day responsibilities. But there is another option of hiring a professional property management company. That way, you get someone else to handle your finances, maintenance, queries, vetting, and other daily tasks.
But, the problem is, there are so many companies to choose from. How do you find the right one? This article will briefly discuss what to look for in a property management company.
Experience Managing Your Asset Type
You want a company that specializes in the type of asset that you own. Ask for their management portfolio to see if they have similar properties in regard to asset class and complexity. Different property types have varying service approaches, legal knowledge, and accounting practices.
For example, your preferred company should have experience dealing with business tenants if you have a commercial property. They should also understand clearly the implication of leases. You don’t want a property manager that is fresh to the industry and has no idea what would happen in the case of violated teams.
In the case of residential apartments, the company should have experience dealing with homeowner associations (HOA) and strata councils. Additionally, they should be familiar with every strata regulation, Strata Property Act, and bylaws.
Receptive to the Needs of Residents
The most common complaint in the property management industry is the lack of responsiveness. You don’t want yours to have such issues!
Your property management company should be reliable, responsive, and have excellent customer service. That’s because a good relationship with the tenants is a recipe for the success of your business.
But how would you know if the property management company is up to the task? Ask for references and look for evidence of their service quality. You can also talk to their clients or tenants and get their views on the company’s response time. There is nothing like being too thorough when it comes to placing your business in someone else’s hands.
Technology is part of almost all business processes today. And your property is no different. In fact, it features everywhere, from smart building features to accounting and tenant relations. (1)
For example, you’ll find that most commercial properties often have social media pages and blogs to interact with tenants. Such small but impactful technology-driven solutions keep tenants happy and loyal. They also improve your property’s visibility and customer service.
When looking for a property management company, check whether they offer things like:
- Accounting software solutions. You can get consolidated financial data delivered in real time.
- Tracking and maintenance scheduling software. It can help you maintain and extend the service life of the components on your property.
- Online payment solutions. That way, your tenants can pay rent easily and quickly.
- Warranty tracking programs. They can help you address any repairs or maintenance issues before warranties expire.
- Operating software. It can offer monthly reports about the status of your property.
- Online tenant service software. Tech features like service requests, lease renewal, and more are a necessary.
Work With Us
You can’t afford to make a wrong choice when entrusting your property’s management. At Bridlewood Real Estate, we have the skills and experience you need for your property. We have a strong team committed to quality and excellence in all aspects of residential property management.
If you’re a resident or business in Clermont, Mount Dora, Minneola, Groveland, or Orlando, make sure to contact us for a free quote today.
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