How do I choose a Property Management Company?
If you are a landlord looking to make your investment as stress free as possible, then you might be considering using a Property Management company. It’s an important decision and with so many companies to choose from, how do you choose the best one for you? DABORACONWAY shares their tips on how to choose a good Property Management Company.
Decide on the Service Level
Firstly, you need to decide on the level of service you are looking for. Do you want the letting agents to just find you tenants or would you prefer them to take on full responsibility for managing your property, including rent collection, repairs and maintenance? You could also explore Guaranteed Property Rental Schemes, such as the one offered by DABORACONWAY.
Once you know the type of service you require, you can then compare the fee structure offered by different companies. Be sure to check that you understand exactly what each company includes in their different letting packages, and how and when the fees will be collected.
Choosing a Property Management Company is about much more than simply finding the cheapest provider of the services you want. Making the wrong choice can end up making your life more difficult rather than easier and potentially costlier so be sure to ask:
- How long have they been in business and what their local reputation is.
- Their marketing strategies. What online exposure will your property get?
- The number and type of properties they manage and how many staff they employ.
- Their vacancy rates. Will they share these with you?
- Their tenant screening process. Are all the legal required checks being carried out?
- Rent collection. What is the process and how quickly will the money be transferred to you?
- Insurance. Does the company have public liability insurance?
- Their membership of a professional association such as Safe Agent and The Property Ombudsman
Put yourself in your tenant’s shoes
Have you found the company to be professional, efficient and helpful as they deal with your enquiries? If so, you can feel confident that they are going to provide the same high level of service to your tenants and so help ensure you get the very best out of your rental property.
Posted on: 19 July 2021