A good property manager can provide immense support to real estate investors in managing their properties effectively. He can reduce expenses incurred on the property while boosting the return on investment.
Following are a few tips for selecting the right property manager:
- Check The Property Manager’s License And Certification: The property manager should have an active real estate broker’s license or a property management license. Additionally, if a property manager is associated with reputed real estate associations, it adds to the credibility of the agent.
- Get Referrals: Referrals from trusted sources are one of the best ways of finding a good property manager. Real estate investors and property owners in your neighborhood can help you find a suitable property manager. Ask them about the services they liked the most, whether they have encountered any problems with the property manager and how their problems were addressed.
- Check The Current Work: Observe the current work that the property managers are handling, study the statements used in their current rental advertizement, visit the properties they manage, speak to current clients and so on. Also, you can check the online reviews and client testimonials to gain an insight into the property manager’s quality of work.
- Conduct An Interview: Interview prospective property managers or management companies to compare them before choosing a property manager that suits you. Ask them about their credentials and experience, observe how they communicate, inquire whether they know about the property laws, how they screen tenants and other points of relevance to you.
- Examine The Management Agreement: Always go through the management agreement of the property manager as it states the responsibilities of both the property manager and owner. Look out for details such as services provided, extra fees, owner’s responsibilities and more.
- Ask About The Fees And Accounting Services: Before hiring a property manager, be sure to ask how much they will charge, how they plan to handle advertizing costs, whether they will provide monthly income & expenditure reports, etc.
- People Skills And Communication: While evaluating potential candidates for the job, observe their communication skills, professionalism and knowledge about the field. The best property managers are those who treat their clients respectfully, are good listeners and are approachable when needed.
For more information on property management services in Killeen, TX feel free to contact Lone Star Realty & Property Management, Inc. at (254) 699-7003 or visit 1020 W Jasper Drive, Killeen, TX 76542.