Managing and maintaining a rental home is much easier with help and support from professional property management services in Fort Collins. Property management services come at a cost but the benefits are well worth it. A property manager does more than collect the rent at the beginning of each month. They market, manage, and maintain the property in order to protect and extend the reach of your investment.
If you’ve already determined the benefits of using a property management company and have made the decision to hire one, here are 4 tips to help you choosing a responsible and trustworthy property manager for your rental home.
1. Get Referrals and Check Reviews
One of the best ways to find a reputable company is to hear what others have to say about them, whether from word of mouth, testimonials, or online reviews. You can start by asking other property owners for a recommendation or you could even ask the real estate agent who sold you the home.
As you develop a list of potential options, you can also check their website for a list of references or testimonials. References on their websites, however, will be limited to customers with positive experiences, but online reviews will allow you to read about experiences from a larger range of customers. Online ratings and reviews, whether on Google or other websites such as Yelp, can provide some of the best insight into the quality of service provided by the company.
2. Schedule Interviews
It is extremely important to meet with the company in person. A face-to-face meeting will provide you with a first impression, which can greatly influence your decision, but it will also allow you to learn more about the company than what is found on the Internet. Meeting in person is the perfect way to ask questions, discuss details, and gauge their level of professionalism. You can interview individual property managers to help you determine if they are someone you, and your potential tenants, would be comfortable working with and someone who will represent you well.
3. Ask All the Questions
Before hiring a property manager, be sure to compile a list of questions to ask. Asking questions is the best way to get the individual answers and detailed information you need to find the right property management company for you and your properties.
Some important questions to ask include:
- Are they licensed and certified? How many years of experience do they have?
- How many properties does the company manage?
- How many properties are individual managers responsible for?
- What type of properties do they manage?
- What services do they offer?
- How much do they charge and what exactly is included in each pricing structure?
- What is not included in their pricing and could result in additional fees?
- What systems do they have in place for reporting financial data?
- How will they market your property?
- How do they handle vacancies?
- How are tenants screened?
- How are maintenance and repairs taken care of?
- When/how is rent collected and how will that be distributed to you and applicable utilities?
- How are late rent payments handled?
- What are the terms and conditions on their tenant lease agreements and what are the responsibilities of the tenant?
- Who do tenants call with questions or concerns and how are you kept up-to-date on any potential issues?
- How are delinquent tenants managed and how do they handle eviction processes?
- What are the consequences of breaking the lease and how are those enforced?
- What is the process for terminating their services?
4. Carefully Review and Understand All Applicable Agreements
Make sure that you have carefully reviewed the terms of your contract and have a full understanding of all that is included and required. You must be sure that you have confidence in how they will manage your property in order to truly enjoy the freedom and peace of mind that should come from working with a property manager. Asking questions and carefully reading the owner agreement is the best way to know what you’re getting into. You may also ask to review the tenant lease agreement, so that you have a clear understanding of what is asked and required of your tenants. Finding the right property manager may require research and effort at first, but the long-term benefits will outlast the time and work it takes.
Fort Collins Property Management Services
Whether you own one rental home in Fort Collins or multiple homes across Northern Colorado, All Property Services has the experience and resources you need to care for your property, your tenants, and protect your investment. Contact our team at All Property Services for more information on our comprehensive property management services.