The Do’s and Don’ts of Property Manager Selection
Congratulations! You’ve made the smart investment decision to hire a professional to manage your rental property. With so many Fort Worth property managers, however, how do you choose the right one? The Specialized Property Management recommendation can be summarized into a few do’s and don’ts in your search:
|Assume anyone can be a property manager.||Ask about your Fort Worth property manager’s training and certifications beyond real estate.|
|Use initial fees as the only comparison.||Research the complete fee structure, including hidden fees that may be applied.|
|Settle for those who juggle real estate sales, property management, and other ventures.||Understand that dedicated expertise is critical in this complex industry.|
|Let the property manager filter information about your property to you.||Look for an online owner portal to view all property activity from wherever you are, 24/7.|
|Skimp on maintenance.||Place a high value on a documented, proactive maintenance plan to meet codes and reduce costs.|
|Let one bad experience with a property manager color your perspective of the industry.||Keep looking. Not all property managers are created equally. Some give the industry a bad name.|
|Think the property management company will respond more quickly to your tenants than to you.||Expect responsiveness – your call should be answered or quickly returned.|
|Piecemeal services together to try and cut costs.||Remember that discount services can cost you in the long run in longer vacancies and costly mistakes.|
|Leave the details of your agreement to chance.||Invite your property manager to clearly explain all the terms of the agreement, so they are clear to you.|
|Cut corners when trusting your investment property to a management team.||Call references. Who else uses the property manager? What is their real experience with them?|
Property management is a challenging industry, and your investment is worth hundreds of thousands of dollars. That’s why it’s critical to carefully hire a property management company. Fort Worth landlords like you have too much at stake. You want to save yourself time and money with your rental property, not lose it while dealing with unprofessional or unqualified property managers.
You need an ethical partner you can trust, so go ahead and compare. Specialized Property Management is the proven leader of national and local Fort Worth property managers, so we’re not afraid of the competition. Hold them up to our standards and your choice will be clear. Call us today for more information.