Choosing the Right Property Manager:
What to look for when you entrust your investment property to a pro
For most homeowners, a house is a place to be treated with pride and respect. Real estate, after all, is virtually guaranteed to appreciate in value over time, especially when the property is well cared for and maintained.
When an owner has a home that they do not live in, they still expect to uphold the value and integrity of their unit by having responsible tenants occupy it. Oftentimes, the homeowner chooses to procure a tenant and act as a landlord by collecting month rent and being involved in levels of maintenance as they see fit.
Other investors choose to have a professional Property Manager handle the ins and outs of home tenancy and maintenance. There are several reasons a person may choose to hire a Property Manager instead of managing their own unit(s):
- They live out of state or several miles from the property. Logistically, being unable to respond quickly to concerns with the home, being out of touch with local weather or occurrences, or being unable to perform drive-bys or routine maintenance checkups are all drawbacks to maintaining a quality property. It’s beneficial to have a local set of eyes and ears on hand.
- Peace of mind. Handing over the responsibilities of the home – along with the keys – relieves pressure of the homeowner to get pulled away from other important aspects of day-to-day living, such as work or family.
- Time. Let’s face it; time is a precious commodity, and it matters when investors don’t have to adjust their schedules for issues that may arise at their properties.
- They want a quality tenant. Professional Property Managers have rigorous screening processes in place to ensure that the tenants who eventually move in are qualified to be respectful and responsible while living in the home. Property Management employees are able to view rental histories, criminal backgrounds, credit reports, and other qualifiers that help find the perfect renters.
So, once an investor has decided to hire a Property Manager instead of doing their own management, what should they look for?
- They know the territory. Your Property Manager should have an intimate knowledge of the area they serve.
- They communicate well. You should feel as though you can get I touch with your manager at any time, and that your questions are being answered quickly and honestly.
- They are thorough. Your Property Manager should have rigorous requirements and follow-ups for applicants and prospective tenants.
- They care. Good Property Managers treat their clients’ homes as they would their own.
- They are professional. Make sure your Property Manager is a member of NARPM – the National Association of Residential Property Managers. This nation-wide association has rigorous standards and trainings for its members to adhere to.
- They are fair. You should feel as if you are getting the best deal from your Property Manager, that your home is rented for its top value, and that all expenses are transparent.
For more information about the services we offer in the Boise area and Idaho’s Treasure Valley at Aloha Property Management, please call us at 208-629-8814 or visit us online at www.alohapros.com.