TR May-June 2024-lr

OPERATIONS: PROPERTY MANAGEMENT

SPONSORED CONTENT

What to Look for in a Property Management Company MAKE SURE THE COMPANY YOU HIRE CAN MEET THE DEMANDS OF PROPERTY MANAGEMENT 24/7.

REAL PROPERTY MANAGEMENT

M anaging a rental property is a full-time job. Property owners who desire more free time may consider hiring a residential property management company to take some of the burdens of rental ownership off their shoulders. Several companies offer property management services; however, not all are created equal. When you decide it is time to search for a residential property management company, here are a few things to look for. COMMUNICATION AND TECHNOLOGY TOOLS For starters, you will want to ensure the company you select makes

communication with you a priority. This means that when you call them, even outside of business hours, they will have a well-trained professional eager to pick up the phone and help you by answering all your questions. In today’s digital age, the top property management companies will also offer online tools and features that communicate and help you stay up to date on vacancies, evaluations,

any interactions with tenants, from the signing of the lease to addressing maintenance requests to handling eviction proceedings. They should also be able to provide a specific plan for securing tenant retention. If a vacancy occurs, your company needs to be active in searching to fill the vacancy by advertising the property on rental websites and classifieds, and they should swiftly follow up with inquiries from prospective tenants. Effective marketing of the property includes making sure the property is priced competitively in the market. They should also provide you with assistance in making the property rent-ready by

maintenance, and financial reports on all your properties.

TENANT INTERACTIONS You will also need to verify that your property management company is prepared and willing to handle

66 | think realty magazine :: may - june 2024

Made with FlippingBook Online newsletter