Being a landlord is not an easy task and comes with its own responsibilities. The job becomes even harder when you own a bunch of different properties that are scattered all over the place. That is why many landlords are taking the help of property managers or property management companies. But how do you choose the company which is best for you?
In this article, we’ll share five tips that can help you find the property management company best suited for your needs.
1. Get Referrals From People You Know
Instead of going with the first company that you find in advertisements, you should rely on word of mouth. If you have any friends that have taken the services of a project management company before, then ask them for referrals.
People can be biased towards any particular company so it is important that you take as many opinions as possible. If you’re assigned a property manager, then the first thing that you must do is check their educational qualifications.
You can also go online and check out the companies that have the best reviews and feedback. You can check out https://bso.ae/ if you’re looking for a property in Dubai.
2. Ask For A Detailed Written Proposal
After getting some referrals and making a list, you should contact those companies and ask for a detailed written proposal. The sign that they are willing to take the effort to frame a well-drafted proposal shows that they are serious about their work and value you as a client.
Make sure the proposal is comprehensive and includes expectations and responsibilities as well. A proposal also shows that a particular company has abundant experience specifying client expectations and meeting them as well.
3. Shortlist A Few Companies And Organize Interviews
After going through a few proposals, it is necessary that you meet some companies or their representatives. You should shortlist companies that you believe are best fit and begin the process of having interviews.
You’ll want to explain your requirements as comprehensively as possible which is best when done face to face rather than on phone or online. Meet with them, explain your needs, and the kinds of properties you have to them and listen to what they have to say.
4. Ask About How They Handle Their Operations
A property management company will handle every aspect of your property. From managing vacancies and screening tenants to finally rent collection. Their job is to ensure that your properties generate regular cash flows for you.
Some companies will charge you if they are not able to fill a vacancy while others might not. Similarly, many companies will charge extra for tenant screening and selection while others might include in their total fee.
So, it is up to you which company you want to choose depending on your budget and preferences. The generally accepted principle is that companies with higher fees will handle most of the operations related to your property without any added costs.
5. Go For The Option That Has A Great Customer Support
Finally, when you’re making the decision, you should go to the company that offers the best customer service. While choosing any service or product, it is important you give some thought to the customer support after the purchase is done.
Being their client, you will have many queries regarding your property and it is their duty to answer each one of those. Also, you should bifurcate the responsibilities of you and the company. If the roles are predefined, it leaves little to no room for conflict at a later stage.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.