If you’re thinking to yourself, “I’m ready to rent my home out, but I don’t know which property management company to choose, or even what questions to ask!” you’ve come to the right place. The experts at Real Property Management Southern Connecticut know it can be tough to trust just any property management company. It’s a great idea to shop around before picking one! How do you know it’s the right company that will be a good fit for you? We’ve made things easier for you and given you a list of sample questions you should ask when you’re shopping around for property management. These questions will help make your decision a straightforward one.
- Does your company deal only with property management? You probably wouldn’t take your car to an automotive shop that also operates as a restaurant full-time! When you want quality work done, you take your vehicle to a mechanic that deals exclusively with cars and can focus all their attention on your problem. In property management, a lot of companies try to do-it-all. They run a real estate business and pursue other ventures in addition to dealing in property management. The company you pick should focus exclusively on the management of rental properties.
- How many years of experience does your company have in the industry? You may start telling neighbors and friends, “I’m ready to rent my home out! But I need a little help!” If a friend mentions a company he knows of that’s just trying to break into the industry with zero experience in property management, don’t even think about it. The company you choose should have 10+ years of experience so they can help guide you throughout the process and help you successfully tackle any hurdles that come along.
- What training and certifications do you have? Connecticut Real Estate laws state that all property managers must be Licensed Real Estate Professionals supervised by a broker. All of the staff members at a professional property management company should also be well-versed and knowledgeable about all the aspects of property management. Ask the company for proof that they meet these requirements.
- If I want to rent my home out, who can I talk to when I have questions? No first-time landlord should feel like they can’t call their property management company at any time when they have concerns. An effective property management company will have a designated person you can talk to no matter what the issue may be. The property management company you select should also respond promptly to emails.
- How will you keep me up to date on my rental property? Though you want to hand the day-to-day dealings of your property over to a professional company, that doesn’t mean you want to be kept in the dark! Your management company should frequently communicate to you during every step of the leasing process. At Real Property Management Southern Connecticut, all landlords can connect to their online owner portal any time, any place! The portal allows you to access documents, pictures, and real-time updates about your property.
- How long, on average, does it take you to fill a vacancy? You lose money when no one is renting your property. Look for a company that makes it a priority is to avoid vacancies! They should be able to get your unit rented quickly to reliable tenants between an average of 25-40 days.
- What fees can I expect? No property management company is going to provide their services for free. But they shouldn’t cost an arm and a leg either! You should demand upfront to know what kind of fees to expect and what services they cover so you can budget in advance.
- How quickly do you respond to maintenance issues? The number one reason tenants leave a rental home is due to neglected maintenance issues. No tenant wants to rent from someone who doesn’t fix their broken A/C within a reasonable time frame. You want a company with a proactive approach to maintenance who responds quickly to a maintenance call or email from your tenant.
- What kind of rent collection system do you have? When you first had the idea, “I’ll rent my home out to make some extra money!” you probably didn’t think collecting rent would be a problem. But if your property management company does not have an effective rent collection process already in place, you might be in trouble. Ask about their rent collection and evictions policies.
- How do you ensure compliance and legal protection for your clients? Your property management company should be trustworthy and reliable. After all, you are trusting them with your valuable assets and the management of your money. Watch out for any violations from the Connecticut Real Estate Commission, and be sure their legal team has the proper education and training to keep you up to date on laws and codes within your area.
At Real Property Management Southern Connecticut we have the knowledge and expertise to help you and your investment succeed. Call us today, and we’ll answer all your questions! You’ll get a hassle-free, haggle-free experience with our company. Give us a call today!