Whether you own one single family home, an entire apartment complex, or a few investment properties, managing them can be exhausting. Unlike most jobs, property management doesn’t work on an 8 a.m. to 5 p.m. schedule. When you manage your own properties, you can say goodbye to weekends and weeknights.
Instead of managing their own property, many owners choose to hire a property management company to handle the daily tasks for them. When hiring a property manager, it is important to understand what they do, what to look for, and if their goals align with yours.
What Does a Property Manager Do?
A property manager is hired by the owner of a home, condominium, business, or other types of properties to manage day-to-day responsibilities. Property managers wear many hats and perform a wide variety of services, such as:
- Respond to calls and emails from tenants
- Advertise properties online
- Find new tenants for rental properties
- Tenant screening and background checks
- Monthly rent collection
- Handle leases, move-outs, and evictions
- Handle repairs and maintenance
- Maintaining expense, lease, repair, and insurance records
- And more!
What to Look for In a Property Manager
It is important to remember that not all property management companies are created equally. When speaking with a potential property manager, make sure to get details regarding what services they offer and ensure that they align with your goals. For example, if your goal is to increase the number of tenants living in your property, make sure to ask what their vacancy rate is. Asking questions that align with the changes you hope to see is key in finding the right company for you.
If you have any friends or family members who have used a property management company before, make sure to get recommendations from them, as they have first-hand experience with the company. If you’re having a hard time finding referrals, look for positive testimonials online. One important thing to keep in mind is that not all reviews are from owners. Previous tenants who have been evicted or were charged for property damage can sometimes sway reviews in the negative direction.
Examine Their Contracts & Agreements
Once you’ve narrowed down your property management search, take a look at their contract. If they offer a long list of services, are they all included in your monthly price? If they say that they “work around the clock,” does that mean 24/7 or just extended hours? Make sure that you fully understand what your monthly payments are going towards and what exactly you’ll be getting. Don’t be afraid to negotiate the terms and conditions of the contract. Voice exactly what you want so that there are no misunderstandings in the future.
The Leading Property Management Company in Phoenix, AZ
In the Phoenix Metro area, Southwest Mountain Realty is the go-to property management company for both residential, commercial, and investment properties. With over 20 years of experience, we have some of the happiest clients and lowest vacancy and eviction rates. Every one of our managers are licensed agents with plenty of expertise to get the job done right.
To speak with one of our licensed agents, give us a call at 480-582-0714 or contact us online for a free property management quote.