How To Find The Right Property Manager For Your Investment

When you're an investment property owner, it's important to find a property manager that's the right fit for you and your portfolio. But with so many property management companies out there, how can you be sure you're making the best choice? Here are four tips to help you find the right property manager for your investment.

1. Know your goals

Before you start looking for a property manager, it's important to know what your goals are. Are you looking for someone who will minimize vacancy rates and maximize rent? Are you looking for someone who will take care of all the day-to-day maintenance and repairs? Or are you looking for someone who will provide comprehensive financial reporting? Once you know what your goals are, you can start looking for a property manager that specializes in meeting those specific needs.

2. Years of experience 

When it comes to entrusting your investment property to someone, you'll want to make sure they have a track record of success. Look for a property manager with at least several years of experience under their belt. This will give you peace of mind knowing that they're not only familiar with the ins and outs of managing a property, but that they've also had time to build up a solid network of reliable vendors. 

3. Do your homework

Just like any other business decision, it's important to do your homework when choosing a property manager. Start by asking for referrals from other investment property owners in your area. Once you have a few referrals, check out each company's website and see if their services align with your goals. Also, be sure to read online reviews from past and current clients to get an idea of their level of customer service. 

4. Ask lots of questions

Once you've narrowed down your choices, set up meetings with each of the finalists. During these meetings, be sure to ask lots of questions about their experience managing investment properties, their approach to marketing vacant units, and their process for handling maintenance requests and repairs. This is also a good time to ask about their fees and what’s included in their services. 

5. Get everything in writing.

Once you've decided on a property management company, be sure to get everything in writing before signing a contract. This contract should outline the services they will provide, their fees, and the length of the agreement. It's also important to have a clear understanding of their policies on things like late payments, Evictions, and security deposits. By getting everything in writing upfront, you can avoid any misunderstandings or surprises down the road. 

6. Location 

One of the most important things to consider when choosing a property manager is their location. After all, you'll want someone who is familiar with the area in which your investment property is located. They should know things like the going rate for rent in the area, as well as any potential red flags that you should be aware of. A good property manager will also have a network of reliable vendors in the area who can provide services like repairs and maintenance at a moment's notice. 

Conclusion: 

Choosing a property manager is a big decision. But if you keep these three tips in mind, you'll be well on your way to finding the perfect person for the job. With those qualities in mind, you'll be sure to find a property manager who will exceed your expectations.

Whatever your needs, long or short-term, large or small, lakefront or downtown, North Bloomfield Properties is your one-stop source for a complete list of houses, condos, and apartments available throughout Michigan. We take care of every aspect of investment property management for you, including, Extensive marketing and advertising, Complete tenant screening, 24-hour maintenance, Rent collections, Legal and accounting services, Real estate sales, and much more. Auburn Property Management

Name: North Bloomfield Properties

Address: 8081 Commerce Road, Michigan 48382

Phone: 248-366-8484