Congrats you finally purchased your first rental unit in a prime location!
But…
It’s in another state and the headache and responsibility of managing it is making you question your investment.
You might be considering hiring a property manager to help you but with the endless property managers to choose from you’re wondering how in the world are you going to pick the best one for you? Well, you’re in the right place!
We are going to share some tips on how to find a property manager to fit your needs.
How to Find a Property Manager for Your Rental Unit
Now that you have finally joined the rank of fellow 74.4% of property investors it’s time to buckle down and figure out how to choose the right company to help you manage your rental unit. Companies such as corona property management have experience on how to handle many of the issues that might arise from renting a unit.
Like with everything else there are ways to make your final choice a bit easier:
Referrals
With all the different advertising in the world, nothing seems to beat word of mouth advertising. It’s no different when choosing the perfect property manager for you. Ask friends and family that might have investment properties themselves if they have anyone they can recommend.
You can also ask your real estate agent if they have any property managers they recommend. Interview all the referrals you receive first because they have already made an impression with someone you know.
Ask Them How They Handle Vacancies and Marketing
It’s going to be of no use to have an investment property that stays empty because no one knows about it. You want to make sure you know upfront how your potential property manager handles vacancies and how they handle the marketing of your property.
Do they do traditional marketing, digital marketing or both? In today’s world, a combination of both is preferable for a larger reach.
You will want to know upfront if they charge a fee or not while your unit is empty. Some companies do and some don’t.
Rent Collection
Something else that will help narrow down your choices is how they collect rent. You want to make sure that you’re both clear on the process and that you agree this will work for your needs.
Another question to ask is how they handle a tenant that’s constantly late on rent? The point of having your investment property is to make money not to lose money and hound tenants for payments.
Happy Searching!
Now that you have the tips above on how to find a property manager you can begin your search and narrow your potential property managers until you have the perfect one for you and your rental unit!
Make sure to not rush through this process because the last thing you want is to hire the wrong person for the job and you regret your decision of investing in property.
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