Property Management – Finding a Good Property Manager

So you decided you don’t want to manage your own rental property… Finding a good and reputable property manger isn’t as difficult as it may seem.We recommend that you start by contacting your local Board of Realtors and get a list of property managers from them. Now, sometimes the different boards of Realtors may not separate their membership into the category of “Property Manager”. If you are unable to get a list from your local Board of Realtors, then Google for property managers: “property management any town, any state”.A third option is personal referrals; contact your realtor friends or others who may know a property manager. Personal referral is probably the best resource out there. Once you have your list, visit their web site and then narrow the list to 2 or 3.Then visit their place of business and interview them personally. When you go for the interview, note how organized they seem to be… or don’t seem to be. The condition of their place of business is a good indication of how organized and “together” they are. Remember, they will be representing you and managing your property. Ask yourself this question: Could this person find the file on my property is a reasonable length of time if they had to? Next, ask questions to see if the two of you communicate well and on the same level and if you have the same values of money. In our multi-cultural communities actually understanding the other person’s language, nuances and accents can be difficult. but also, even when we all speak the same language, it is sometimes difficult to get the meaning of what the other person is trying to convey. Be sure that communication works between you.When I talked about making sure that the two of you have the same value of money, what I mean is this; You may be the type of person who wants to be sure to be smart with you money but, always take care of your property. If something goes wrong, you will want it fixed, especially if it is for instance, a water problem. You want to fix it right away to avoid further damage to the property. If your prospective property manager is of the mind to avoid spending money on properties no matter what then, there is a disconnect between the wo of you.Another thing to be sure to find out is whether or not they will be keeping your funds in a trust account… this is required by law and can be a major red flag if the answer is no.Through this process, you will know when you have found the right property manager for your property.In summary; Check with your Board of Realtors or others who may refer you to a reputable property manager. Visit their place of business and interview them. Be sure there is a positive connection, both in communicating and in your value of money.

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