Today we are talking about how to select a property manager in Orlando. There are good property managers and bad property managers out there, and it’s important to be able to identify the difference.
Lots of people are calling themselves property managers but they don’t have a real estate license or any experience in the field. Look out for that. There are also a lot of real estate offices that have jumped into property management in recent years. This does not always create good property management. Taking care of a rental property is totally different from real estate sales. The two career paths really don’t correlate.
What you need is a property management company with skill, experience and knowledge. When you are screening and selecting a property management company, take a look at their process and get an idea about how they conduct business. Look at the individual property manager you’ll be working with as well. Most work under a broker and you may never see or speak to that broker unless there’s a problem. Ask about actual experience, and make sure you get to know the professional you will be working with and that they have experience in the field.
Other things to consider – a good property manager will pay attention to detail. They will solve problems creatively. There is no room for a property manager who allows an owner to be taken advantage of. There has to be a proactive relationship between the property manager, the tenants and you, the property owner. Communication lines must be kept open at all times.
A good property manager will stay on top of maintenance and constantly be looking at ways to reduce your costs. They won’t make unnecessary repairs but a good property manager will keep up with your property and make sure it is well maintained so you get the best return on your investment.
It’s important to find out what a property manager will do to minimize vacancy. A good property manager will rent your property as quickly as possible. You also want a manager who has a detailed tenant selection process. Find out how they determine who your tenant will be, and if they are arbitrarily selecting the tenants or requiring you as the property owner to also give your stamp of approval.
These are just a few things to consider when you’re separating bad property managers from good ones as you search for the right professional to manage your property. If you have any questions, please feel free to contact us at Debbie Gloss Properties.