When you have multiple apartment buildings that you own, or perhaps you have several houses that serve as income properties, it can take a lot of effort to keep them all cared for and your tenants happy. This is where a property management services company comes in handy. They can ensure your properties are well taken care of and your tenants get what they need.
In order for your business to succeed you need to be able to work well with your property management services company. Here are some tips on how to effectively work well with a property services company.
Have A Detailed Legal Agreement
You will want a detailed legal agreement drawn up between you and the property management services company. This should be a well-crafted contract that benefits both parties. It should detail what you expect from the company, what their duties are, how many employees will be at your sites, and what their payment should be.
It should have protections for you for liability and what the property management company is responsible for in the event something goes wrong. When you are looking for a property management services company find one that has the appropriate licenses and has a good reputation in the industry.
They Can Take Care Of Your Marketing
You might wish to market your properties on your own, or perhaps you have hired an agency to do it for you, but if you can, find a property management services company that can take care of your marketing for you. This means they know how to create a great online presence for your buildings. This includes having a user-friendly website, active social media such as Facebook and Instagram, and even answering comments and questions potential renters might have in emails or other online sites.
They should be well versed in getting your properties to rank on Google searches, and manage all inquiries through the MLS or other system to find renters they employ.
They Have A Good And Reliable Team
When you work with a property management services company you want to ensure they have a good team that is reliable and hard working. This means you can count on them to keep track of your rental records and know which tenants still owe rent and which need repairs or maintenance done on their apartments.
They may have a real estate attorney on staff or on retainer that can help with any potential legal issues that could arise. This could include the need to evict a tenant due to non-payment of rent, or perhaps to help with government red tape when the need for repairs or renovations should arise. It's also a good idea to find a company that has contractors on their payroll too. They can provide landscaping, electrical repair and upgrades, painting services, and more.