If you are a homeowner that you want to rent out but don’t know where to begin, hiring a property management firm can often help make the process less painless for you. However, if you don’t do your due diligence and find the right property management company to work with, you may fall victim to some of these common complaints that property owners have about the management companies they work with.
- You are not getting the service we need.
Many property managers are overseeing a number of properties. Even in small towns, property management companies can find themselves handling hundreds of rentals. If they aren’t equipped to handle all of these properties, they could find themselves spread too thin and having less time for quality owner service. Your calls could go unanswered, your concerns unaddressed and even your property left unrented. At the very least, your property manager will take forever to do anything.
- They don’t have experience with your type of property.
Property managers will often try to expand their reach by managing properties that are in their typical wheelhouse. For example, commercial or office management companies that start to manage residential properties. While both are important — they aren’t the same. The needs of business owners are far different from those of families. If your property management company isn’t experienced in handling those specific needs, it could take a while for them to get up to speed and get things right.
One way to make sure they are qualified to meet the needs of the property owners or those who will ultimately be using or renting the space, verify their qualifications or certifications. For example, if they are a member of the National Association of Residential Property Managers, they usually focus on single-family homes and residential properties.
- They are not performing preventative maintenance.
A good property management company will perform the maintenance that is needed to keep your home up to the quality standards you expect. If they are not, it is important to review your agreement and make sure you have a clear understanding of which party — you or the property management company — is responsible for what kind of maintenance and repairs.
Finding a qualified management company such as Walters & Company takes a little work. But by asking the right questions when you’re signing up with a property management company, you can avoid these complaints and make sure that your home is in the best hands possible.