As a property owner, finding and hiring the right property manager can make all the difference in the success of your rental property. A good property manager can help you avoid the headaches of managing tenants, collecting rent, and maintaining the property, while maximizing your rental income. But with so many options, how do you know which property manager is right for you?
Here are some key factors to consider when selecting a property manager for your rental property:
1. Experience and Reputation: Look for a property management company with a proven track record of success. Check online reviews and ask for references from past and current clients to understand the company's reputation. Consider a company with experience managing properties similar to yours.
2. Knowledge of Local Market: A good property manager should have a deep understanding of the local rental market, including rental rates, vacancy rates, and trends. They should be able to help you price your rental competitively to attract and retain quality tenants.
3. Services Offered: Different property managers offer different services, so make sure you understand what's included in the contract. Some managers may only handle rent collection and maintenance, while others may offer additional services like tenant screening, property inspections, and lease preparation.
4. Communication: Clear and frequent communication is key to a successful relationship with your property manager. Make sure the company you choose has a responsive and accessible team who will keep you informed about the status of your property and any issues that arise.
5. Fees: Property management fees can vary widely, so it's essential to understand the fee structure before signing a contract. Some managers charge a percentage of the rent, while others charge a flat fee. Make sure you know what you're paying for and that the fees are competitive with other property managers in the area.
When you've found a property manager that meets these criteria, read the contract carefully before signing. It's essential to understand the terms and conditions, including the contract length, fees, how to terminate the agreement, and the services included.
At Kiley Management, we understand the challenges of managing rental properties and have been helping property owners in the area for many years. We offer various property management services to meet your needs, from tenant screening and rent collection to property inspections and maintenance. Our experienced team has a deep knowledge of the local market and is dedicated to maximizing your rental income. Contact us today to learn more and download our guide for property owners.