Your real estate investment business and your properties care are crucial to you, making hiring a property manager feel much like rolling the dice with your future. Just as you should meet your potential tenants in person as part of your screening process to ensure the best experience, you should interview your potential property manager and ask questions about the types of properties they’ve previously managed.
Researching their background for yourself can also serve to help you make the right decision. Great property managers are worth their weight in gold; to get recommendations you can rely on, start asking around among your network of fellow property investors. In addition, it can be helpful to have a checklist to guide you to the best property manager. For example, here are five signs to look for in a great property manager.
Experience is one sign of a great property manager. Over years of working with vendors who provide maintenance, repairs, and other service providers for properties, an experienced property manager brings along a team of the most qualified professionals to care for your property. In addition, an experienced property manager should have systems in place that will keep them organized despite the multitasking required to keep on top of maintenance problems and marketing screening and eviction of troublesome tenants, scheduling vendors, and bookkeeping duties.
A professional manager understands that whatever happens to your property ultimately falls onto their head. Therefore, professionals don’t procrastinate; they tackle trouble head-on and stay proactive in their management style, understanding that avoiding issues before they become emergencies is most efficient. Professionals also tend to think long-term and set goalposts to mark achievements with a forward-looking frame of mind.
Professionalism also requires patience when things aren’t going right with tenants, vendors, or any number of stressful situations that can arise when managing property. A true pro remains cool under the worst of circumstances and emergencies. Property managers who are quick on their feet and can find creative solutions while always keeping the best interest of your investment in mind are a sure sign of a great property manager.
Let’s face it; it is always better to work smart, not hard, and utilizing the latest advances in technology helps you stay competitive and shows you have hired a great property manager. In addition, property managers who take the initiative to educate themselves further in their profession, including remaining tech-savvy in an ever-evolving world of apps, can benefit you significantly.
Last but not least of importance, the ability to communicate well is a vital sign of a great property manager. A top-notch property manager wants the return on your investment to be the highest possible. Towards that end, they will keep an eye on market trends, upcoming zoning changes, or plans for growth to keep you updated on the most current information, serving to improve your bottom line further. In addition, tenants tend to be happier overall when your property manager has good communication skills, which equates to lower vacancy rates and turnovers, which is financially beneficial.
First Wave Properties has a highly experienced team that displays all of the signs of great property managers. First Wave Properties values your tenants and will work day and night to meet their needs. We treat your investments as if they were our very own at First Wave Properties; we listen to your management goals. At First Wave Properties, our reputation in the industry proves we are the cream of the property management crop; our professionals do what it takes to rise above the rest. Contact First Wave Properties at 813-733-7068 today!