Having the right property manager can lead to the freedom you’ve been
seeking. Without the daily stress of looking after your properties and its
tenants, you will be able to spend more time on yourself and your family.
At Herman Boswell Property Management, we understand the importance
of this and are here to help. Let’s look at some factors you should consider
in your search for the right agency for your needs.
You want your property manager to hold to the same level of
professionalism as yourself. Firstly, find out their method for screening
tenants. Does it fall in line with how you screen for them?
The last thing you want is a high turnover rate. It is vital to your success
that qualified tenants are placed into your units. Whether based on credit,
employment, criminal history, or rental history, it is important that you and
your property manager screen tenants the same way.
Furthermore, the care of your tenants is of the utmost importance. How do
they handle property maintenance? Do they hire someone out to do the
work for them? A manager that takes care of maintenance requests on
their own can be a mixed bag.
Sure, they might be reasonably qualified to perform such tasks. But how
does it affect their normal, day-to-day operations? Will they be busy enough
looking after your property – and potentially others – that they won’t be
able to address such requests in a timely manner?
If issues and complaints arise that can’t be accommodated as needed, you
run the risk of losing paying tenants.
This brings us to rent, and how it is collected. Does the property manager
make it easy for tenants to pay their rent? Is there a variety of methods
available in which to do this? Does the agency keep excellent records of
payments and payment history?
You need the peace of mind that all payments are handled safely, securely,
and professionally. Anything less than this should give you pause for
It’s important that the property manager maintains a great working
relationship with their tenants. It’s been shown that this often results in
tenants making their payments on time. Moreover, they are likely to respect
and care for the property in which they are living.
And lastly, can your property manager provide you with the necessary
reports that you require? What kind of reports will you receive, and when
can you expect to get them? This will help you streamline your business so
that everything runs more smoothly on your end.
Your potential property manager should have the experience necessary to
adequately handle your needs. Follow up on the properties they have
managed to ensure that they are capable of meeting the demands of both
your property and your tenants.
Any professional affiliations will tell you a lot about an agency. Are they
currently a member of their local Chamber of Commerce? How active are
they in the community? Are they well-known for handling properties in a
professional and courteous manner?
Are they managing properties currently? And if so, how many? This can be
a tricky factor to gauge. On one hand, a lot of properties means they are
worthy of your consideration and are likely able to provide for your needs.
On the other hand, you don’t want too many properties to get in the way of
yours. That’s why it is so crucial to meet your candidates personally.
First Impressions Count
This is your opportunity to get a first-hand account of their personality. Do
they carry themselves well? Are they punctual, professional, and well-
organized? Try putting yourself in the shoes of the tenant.
Would you feel comfortable renting from this individual? Do they portray
the look and feel you desire for your properties? If you think of them as the
face of your company, you’ll have a much easier time deciding if they are
right for the job.
One of the biggest hassles for property management agencies is dealing
with vacancies. As the owner of a rental property, you need the assurance
that your manager is capable of handling empty units.
What kind of action plan will they utilize to fill any vacancies? Can you
count on them to advertise any available rentals? If so, how will they go
For every minute that a unit sits vacant, you’re missing out on revenue. It’s
important for you to know that your property manager will work diligently to
fill those units as quickly as possible.
Unfortunately, no screening process is foolproof. There are times when an
eviction must be enacted. You need to establish what methods are used to
evict a tenant from your property if such an event arises.
Do they work with an attorney to ensure that the eviction process is
handled professionally? Furthermore, is it handled quickly? Do they work to
get the vacated property open for a new tenant in a timely manner, as well?
Make doubly sure that these are things you won’t have to worry about. It
shouldn’t be your job to handle a lease violation, especially when you’ve
hired an agency to take care of such things for you.
One of the fastest and easiest ways to learn about a potential property
manager is to check references. It’s important to find out what kind of
properties they have managed in the past. This will give you a better idea
as to whether they are a good fit for you.
You also want to determine if they handle tenants well. Do they have a
good retention rate? If they have been responsible for lost tenants in the
past, you know it’s probably time to look elsewhere.
A great way to follow up on a potential manager’s history is to check with
the Better Business Bureau and Real Estate Commission.
This will tell you if they are licensed in your state, as well as what kind of
reputation they have. If you learn that there are complaints filed against
them, this is a red flag that needs to be taken into account.
When you need an experienced, top-notch team real estate management
team to safeguard your investments, contact Herman Boswell Property