Property management is a beneficial service for landlords who have multiple tasks on their plate and need assistance with their commercial property. However, it’s often not so easy to find truly stellar property management to look after your high-occupancy abode. Here’s what you need to know in order to discover the best property manager out there.
Look at each prospective property manager’s portfolio to evaluate their record. How well have they done in the past? It is best to look for property managers who specialize in your type of property. For example, managing a shopping center is very different from caring for an apartment complex. Make sure you know how long the property management company has been in business, how many buildings they are currently handling, and what certifications they have.
Don’t just hear from the property managers themselves, though. Look online and survey tenants who lived under their services in the past and present. Of course, remember that some reviews may be protests against a situation unreflective of the company’s actual standards. Because of reviews like these, it is crucial to get both sides of the story when choosing a property manager.
Owner-Property Manager Relationship
Remember why you want to hire a property manager. Not all work the same, and you can negotiate the control you want to share with the management company. Know specifically what you want the manager to do for your property and review each possibility in light of your goals.
Rent, Tenants, and Vacancies
The job of a property manager, nevertheless, covers three main areas: rent, tenants, and vacancies. Property managers have expert knowledge of the commercial property market and know how to price and collect rent effectively. They also may be in charge of handling maintenance requests for anything from a broken garbage disposal to a carbon monoxide leak in the hall. They also handle building cleaning and maintenance. As for vacancies, property managers may face this challenge differently, and a lot of empty units could be a bad sign.
Always read over the contract between you and the property management company carefully and negotiate anything you aren’t happy with or don’t understand. There may be hidden fees to consider or owner responsibilities you didn’t expect. If you think you’re ready to hire a property management company, call Clagett Enterprises today for your commercial property!
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for the perfect realtor for your property or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with selling your home and getting the best possible price, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook, Twitter, and Pinterest.