Finding the right property management company can be a tense process for any landlord.
You want a property management company that brings you peace of mind. The best way to ensure your property is in the right hands is to ask the right questions.
Here are ten questions to ask before hiring a property management company in San Francisco Bay.
1. How Many Properties Do You Manage?
A property management company's portfolio can tell you a lot. If it's small, then the company itself is likely to be small or specialized. A smaller company may lack some of the resources and experience of a larger company. However, a large portfolio can introduce its own problems, like a lack of overall attentiveness. You'll need to judge which is right for you.
2. How Many People Do You Employ?
A company's level of staffing, particularly when compared to its size, will also indicate how well it can manage its portfolio. As a property owner, you'll want to know the company has ample human bandwidth to provide its services.
3. How Long Have You Been Operating?
As with any business, the length of time a property management company has been in business can tell you a lot about its successes. One drawback to a long-tenured business is that they're likely to charge higher rates.
4. Can You Provide Testimonials?
The management company will have previous and existing clients and, if they're good at what they do, plenty of those will be willing to say positive things. So ask for testimonials to see some of these comments for yourself.
5. What Are Your Fees?
The company's fees will, naturally, be the biggest consideration over time for you, so be sure to find out what they are and how they break down.
6. Can I Cancel?
Things don't always work out, and you may need to cancel your contract. If so, you need to know if there are any expensive cancellation fees. If you need flexibility, you may need to find a property manager without said fees.
7. Do You Specialize?
Many property management companies specialize. If your property falls into their specialization, they're more likely to have the expertise to manage it well—though this may come with a higher fee.
8. Do You Carry Out Inspections?
Most property management companies will carry out inspections on your behalf to ensure renters are caring for your property. Don't just assume this is the case, though, as you'll have to make other arrangements if it's not.
9. What Are Your Response Times?
You're looking for a service, so it only makes sense to find out how responsive that service is. Ask how quickly the company responds to and resolves tenant requests, and what kind of response you can expect when getting in touch with them.
10. What's Your Vacancy Rate?
Property is a strong investment, but vacancy periods are the big killer for landlords. Be sure to ask the two key questions here: first, how many properties they have vacant right now, and second, how long these properties tend to remain vacant.
Questions for Your Property Management Company in San Francisco Bay
When you're choosing a property management company in San Francisco Bay, these questions can help you find the perfect property manager for you. That leaves you safe in the knowledge that your property is in firm hands.
Looking for property management services in the San Francisco Bay area? Contact us today to get started.