How to Choose the Right Property Manager:
Finding the right Property Manager to work with is a major decision for the property owner. One of the first considerations is whether your state requires a property manager to be certified and, if so, does the Property Manager you are considering have the appropriate certifications to manage your property. Some of the organizations that do these certifications are listed below:
. National Association of Residential Property Managers
. The Building Owners and Managers Association
. The Institute of Real Estate Management
. The Community Associations Institute
. The National Apartment Association
The second thing to consider would be the experience of the Property Manager. Can the Property Manager market your rental property effectively, minimizing the time that the rental home or property is vacant? Is the Property manager familiar with your market, knowing what similar properties are renting for? The Property manager should also be able to select reliable tenants for your property, negotiate rental contracts, collect rent and track deposits, and help you comply with state and local regulations.
Property Managers manage all types of properties, including homes, apartments, vacation rentals, stores, offices, industrial properties, and condos. Is your potential Property Management Company familiar with your type of rental property? How much of the maintenance work on the property can the Property Manager do and what type of work will need to be done by outside contractors? How well did the Property Manager market his services? If he can't sell himself, how will he sell your property to prospective tenents? But one of the most important factors in selecting a Property Manager would be how well you can work with the individual. Take a little time to get to know the Property Manager while you make this important decision.