How to avoid bad property managers

[vc_row][vc_column][vc_single_image image=”12438″ img_size=”full”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Avoiding bad property management companies is all about asking the right questions. By taking some time to think about the responses you’re after before you go out and interview potential companies, you’ll feel one step ahead of everything that happens after you hire someone. What follows is more a set of guidelines to follow than a definitive guide – you’ll want to adapt your own list to your own needs. But if nothing else, by reading on you’ll have a much better understanding of the sorts of responses you should be considering. 

  1. Experience Is Everything: how many years has the company been managing properties? It’s a simple question, but it will open up the door to the bulk of what you’re trying to get a handle on. What sort of properties are they used to manage? These are the sorts of details that will pour out once you begin with questions about baseline experience. 
  1. Commercial or Residential: do they manage commercial properties, residential properties, or both? It was implied with the first question, but if they don’t answer it squarely you need to ask it directly. If you’re looking for a company to manage your residential properties or you’re part of a homeowners association, you’ll want to make sure the company in question doesn’t work exclusively with commercial properties. The same goes if you own a commercial property and the company you’re interviewing only handles residential. If this is their first venture into commercial property management, be warned: you’re taking a gamble. 
  1. How do they handle maintenance: do they have a maintenance crew in house, or do they hire out trusted vendors? If they don’t have a ready answer to this question, you should take it as a red flag. 
  1. How do they handle evictions: how does the company in question deal with evictions? The eviction of a tenant is one of the most difficult aspects of property management – ask about their method for eviction. Do they have a series of steps in place? Is there an overall protocol? The details here matter greatly. 
  1. When does preventive maintenance take place: when does the property management company conduct regular maintenance checks? If they look at you dumbfounded when you ask this question, you may want to find a company that does have a preventive maintenance plan in place. Preventive maintenance is one of the best ways of ensuring long term damage doesn’t take place on your properties. 
  1. Overview of fees: ask for an overview of the management company’s fees. This is likely more complicated than you’d think. There are many property management company fees to be considered – by asking them for an overview you’ll get a good feel for what the ultimate price tag is going to be for both you and your tenants. 

There are, to be sure, far more detailed questions you can ask. But the above will get the ball rolling in the right direction. If you have more questions, feel free to schedule a call with us directly at: (240) 349-2117[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_cta h2=”HAVE MORE QUESTIONS OR NEED HELP WITH YOUR RENTAL PROPERTY OR COMMUNITY?”]Fill out the below form or give us a call (240) 349-2117 or check out our contact page[/vc_cta][/vc_column][/vc_row][vc_row][vc_column]

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