There is a long list of things that you want to find when you’re seeking professional Greenville property management. You want experience. You want a good reputation. You want manageable fees. All of these things are important.
Take all the time you need researching and talking to various companies. This isn’t a decision you should make right away. Compare services and value and customer reviews. We know the process can seem overwhelming, so we’ve put together five essential things to look for when you’re hiring a property manager. This list should make a good starting point.
1. Greenville Property Management Experience
You will see a lot of property management companies boats (and rightfully so) about their 20 or 30 years of experience in property management. That’s something to be proud of. But, you want to explore the type of experience a property manager has. Fifty years in the business isn’t worth much if their eviction rates are high and their properties are run down.
2. Local Expertise in the Greenville Rental Market
You also need to look for a company that understands the local Greenville rental market. A local management company staffed with people who live and work in Greenville is important because property management is a local business. Knowing the trends of local rental values and following the changing laws and the needs of tenants is critical in effective management.
3. Look for Consistent Property Management Systems
A good property management company will have a set of systems and procedures in place that protect your investment property and keep it well-maintained. Ask for specifics about how tenants are screened and rental prices are established. Find out if and when inspections are conducted. Ask to see a sample accounting report or a financial statement. Talk about how routine and emergency maintenance is handled. Look for examples of how the property manager successfully handled a lease violation or a problem with a pet.
4. An Investment in Technology is Important
We strongly recommend you choose a property management company that’s willing to adopt and invest in the latest technology. Much of the work we do is automated, thanks to the software and digital platforms we use. This results in consistency, communication, and documentation. Technology can be used for marketing, screening, leasing, rent collection, and maintenance requests. It also allows you to stay in touch and informed.
5. Discuss Property Management Fees
Finally, you’ll want to talk about fees. This is often the first question a potential owner will ask us, and you’ll want to know how much any potential property manager charges, but get a sense of their services before you ask about costs. You’re looking for value. Most managers will take a percentage of the collected rent. Others will have a flat fee. There is no one way to collect fees, but you need transparency. Make sure there aren’t any hidden fees or surprises.
Professional Greenville property management is a smart investment for your rental home. Make sure you’re hiring the right team. We’d love to tell you more about our services and how we work. Contact us at Letts Property Management.