Right now we’re sharing our thoughts with you on what you should be looking for when shopping around for a real estate property management company. While there are many criteria to consider, we’re zeroing in on five of the most important things you need to screen for.
Keeping Your Property Occupied
One of the main functions of a property manager is to lease your property and maintain a paying tenant. A Chicagoland property management company should be able to rent your place out within a few weeks, assuming the property looks good and is priced right. So, look for a company with strong marketing. Look at their other rentals and see what kind of exposure they have on the internet. Ask about the average time a home of theirs is on the market before it’s rented. Every day that your place is vacant is a day you’re losing money. So, look for a strong marketing and leasing plan.
Good Screening Process
Selecting the right tenant is the difference between having a good relationship with your property manager and a “bumpy one”. There is a lot of information on the internet and public records that provide information on applicants. Usually applications will raise “red flags” so you want to be sure your property manager is trained at spotting those issues.
Maintenance Department In-House
An in-house maintenance team provides benefits to both owners and tenants. Maintenance occurs through routine and preventative maintenance and is not always a result of a bad tenant. Sometimes things break and your company should be able to react quickly at an affordable price. An in-house maintenance department should save you money in the long run.
Communication about tenant issues, the screening process, bills, maintenance issues is very important. There are many ways a property management company can communicate with owners and tenants.
There is a vast amount of information online and through social media about a company’s reputation so you want to research the reputation of the company you are hiring. There are always reviews from disgruntled tenants so be sure to check multiple sources and read all of the reviews so you can find out what type of company you are hiring.
These are the five most important things to look for when you’re looking for a property management company. If you have any questions about finding a property manager in Bartlett, please contact us at GC Realty & Development.
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