The latest data suggests there are nearly 300,000 property management companies in the U.S. A property management in Parker, CO, takes care of the day-to-day operations of Parker real estate, such as rent collection and maintenance. Moreover, property managers oversee your Parker real estate investment.
Advice on choosing a property managment company includes asking about experience, interviewing potential candidates, and asking about vacancy rates.
Here are three tips for hiring a property management company in Parker, CO.
1. Experience
Experience matters when hiring a property management company. You want someone well-versed in screening tenants, handling maintenance calls, and offering excellent customer service.
Tenants
Property managers must know how to screen for tenants. You want to avoid housing discrimination complaints.
Furthermore, a property management firm will do a background check to eliminate those with bad credit or a criminal record.
Maintenance
Broken windows, appliances, and pipes are all part of regular maintenance problems. You want a company that responds to requests promptly.
A great property management company also has a list of contractors ready to call in an emergency.
Customer Service
Customer service must be responsible 24/7 for the investment of your real estate in Parker. In addition to maintenance requests, they must handle issues with professionalism.
They must also communicate effectively.
2. Interview
Interview the company overseeing your Parker real estate and ask about rent collection and vendor management. Prepare a list of questions and listen to their answers so you can ask good follow-ups.
For example, find out how they will collect rent from tenants. Typically, managers will use bank withdrawals, online portals, or a smartphone app. Ask about the process of collecting overdue rent.
Management will often use the same vendor at multiple properties, which saves money by getting a group deal. How will the landscaping vendor make time for your real estate in Parker? Do they have enough workers to staff each job?
Ask about licenses and certifications. Look for personalized service. Find out if they specialize in residential or commercial real estate (or both).
You should leave the interview process feeling satisfied. All questions should be answered.
3. Vacancy Rates
Empty units cost you money. The longer a property sits vacant, the more money you must shell out for utilities and insurance. During this time, you are not bringing in any income.
Moreover, a property management team will help with long-term tenants. Less turnover means fewer expenses in 'flipping' the property for the next tenant.
Be sure a property management team uses the most up-to-date marketing techniques to occupy your real estate investment.
Three Tips for Hiring a Property Management Company in Parker, CO
Three tips for choosing a property managment company include asking about experience, interviewing potential candidates, and asking about vacancy rates.
Property managers are experts in running and overseeing your rental properties. Our skilled team is well-versed in managing multiple properties in Parker, CO. We do all the work, so you don't have to!
Please schedule an appointment with us today. Let us show you how professional property management is best for your investment!
