Property management companies are growing, with about 290,000 operating. In 2019, they have an annual revenue of 76 billion dollars and it should be far more than this. Hiring the best property manager will give you more time, less stress, and more money. It is also essential to know what to look out for before engaging a company for Property Management Aurora, CO. Here are a few tips to help:
Professional license and qualification
You need to ensure the company you are hiring is well trained and qualified for the job. Check out their real estate broker’s license, and it has to be current. Find out if they have certifications like the National Association of Residential Property Managers (NARPM), Residential Management Professional (RMP), Master Property Manager (MPM), and Certified Residential Management Company (CRMC). It will save you a lot of money if you go for the best qualified.
Company’s reputation and policies
It is effortless to get information about a company before you hire them. Having a solid reputation is essential. You can check the Better Business Bureau (BBB) website to see the company’s rating, and it has to be at least a B or better. Also, you can check online review sites and then google to check feedback. You also need to know their policies and what they value. You should work with people who share the same values as you. These will help you know if your property will be handled well.
Before you sign the document, ensure you read thoroughly and fully understand the terms. You can do well to involve your attorney to look into it and make sure it’s a good deal. The agreement should list their team responsibilities, services, and the fees required for each service. The services might include marketing, maintenance, resolving tenants’ needs and requests, handling evictions, daily operational duties, etc. It should also be clearly stated if you have a role to play and how to make repairs if any damage occurs. The specific start and end dates must also be clearly stated.
It will be good if the property management company has the proper insurance. This is for your good if something happens in the future. General liability, property-casualty and errors, and omission (E&O) should be obtained if your company doesn’t have one.
Customers’ service is essential for every business. The Property Management company should be able to provide quality services to your tenants and you if you reach out to them anytime. This will play a significant role in giving them a large client base. They should also be willing to serve you and your clients 24/7, so you’ll be sure to get help in case of an emergency.
In summary, it’s important to get property management companies that know the codes and laws they should enforce and abide by. We trust you found these tips helpful.