What to Look for When Choosing a Property Manager
Selling your home in today’s market can be difficult, especially if you purchased during the height of the housing boom. When new employment opportunities arise, it can be frustrating to have to turn them down because you are unable to get out of your house to move. Well, call your Salt Lake City movers, because there is a good solution for your situation. Instead of dumping your home for a price well below what you paid, consider renting out your residence. If you are going to be moving a long distance away, you may be worried about the upkeep that you will be required to perform. Hiring a property manager can give you peace of mind that your property is being looked after while you are away. Here are some of the things that you should look for when choosing a property manager.
Property managers work with many people as part of their job. From landlords to tenants, there are lots of options for references that you can check out. Talk to anyone who has worked with someone that you are considering hiring before you make any commitments. You are trusting a big investment into the hands of someone else, so you want to be sure that your property will be protected as much as possible. You can talk to real estate agents or property owners near your place to get an idea for the work that a property manager will provide. Remember that some referrals can be biased, so get enough to have a balanced opinion.
Number of Properties
Ask a potential property manager or their company for a list of the current rentals that they manage. If they already have a lot of properties, you may not want to hire them since they might not be able to provide the service that you expect. On the other hand, too little experience can result in less than stellar service and management of your property. Finding a middle ground can ensure that your rental is taken care of, but not completely ignored.
Because you will likely be paying a property manager upwards of 10 percent of your monthly rental costs, you want to make sure that you are getting your money’s worth. It’s important that you ask a lot of questions about how your rental would be managed. How will they take care of maintenance issues? How will they deal with troublesome tenants? How often will they perform regular inspections of the properties? Make sure that your expectations are clear before you make any agreements so that you can avoid misunderstandings in the future.
Make them Work for You
If you are renting out your home rather than selling it, chances are that you may try to sell it for a profit when the market rebounds. Having your home completely trashed will not help you build equity. Before your Salt Lake City movers pack up your boxes, make sure that any potential property manager knows that you expect them to keep your property looking buyer-ready so that you don’t end up with a home that won’t sell. You are paying them, so make sure that they are working for you.