5 Things To Ask When Choosing A Property Management Company in Gwinnett County
Managing Residential Real Estate requires certain skills that some would find tedious or aggravating. As a Property Manager in Gwinnett County, I view many of these tasks or skills as a challenge. Whether it’s finding the right rental price, or the right marketing for a home, or dealing with tenants who view the home as a hotel. Below are 5 things to ask when choosing a Property Management Company.
1. What areas do you specialize in and where do find most of your tenants?
Marketing isn’t cheap and someone pays for the cost. Property Management Companies spend money on marketing and the money comes out of a budget. The bigger the budget the less the company makes or they are forced to charge higher fees. Some Property Managers shift the cost back to the homeowner by requiring them to pay for the premium sites or additional marketing.
2. How long has your Property Management Company been in business?
Pick a company that has gone through market and rent cycles. Market cycles have a tendency to weed out ineffective Property Managers. I personally look for Management Companies with 5 or more years in business.
3. How many properties does your company currently manage?
If a company is too large, the homeowner may be to far removed from the person overseeing the rental property. If a company is too small, they may not have the resources to properly market the home or manage it effectively.
4. Do you currently own any rental properties yourself?
I believe owners are better served by someone who understands what it’s like to own and manage their properties. No one understands the pain better than someone who lives it when a plumber is sent out to unclog a drain that was the tenant’s fault. Someone has to pay for the service call.
5. What do you specialize in and what is your business strategy?
This one may sound a little off the wall, but if the company doesn’t specialize in your rental property, you will eventually be disappointed. Choose a company that specializes in your area, size of home, and rental price.
Being an effective Property Manager really boils down to hiring a company that will effectively manage your home the way you need it to be managed.
The following is a link to a blog we wrote a while back which gives more details What To Look For In A Property Management Company.
For the price of a cup of coffee and a biscuit a day, you can have a professional property manager manage what may be your largest asset.