Tell Tale Signs of a Phenomenal Property Manager
Finding the right property management company can be difficult. There are many to choose from, and most of them claim to offer the same services. How do you know which one is the best fit to trust with your investments? Here are some of the key aspects of a property manager that goes above and beyond to provide spectacular service.
A trustworthy property management company will always communicate with transparency. This means that they are always open with you and never hide information. Always avoid companies with hidden fees or reluctance to give a specific quote. Strong companies will value simple and continuous communication with you to keep you in the loop on any changes or updates concerning your properties. Does someone answer the phone when you call, or do you have to wait or call back? They should be open about their business methods, goals, and values. You should never feel hesitant to reach out to your property manager. At Utopia Management, we are always excited to hear from our clients.
Do they specialize in rental property, or wear too many hats? Companies often try to adopt property management as a side service at low rates, however these are never the best option because managing your property is not their main focus. They are only allocating a portion of their resources to that, and therefore will only be able to provide the bare minimum. To find exceptional property management, you want a company that is completely dedicated to the job.
Of course, quality should be the priority. This means creating a professional and outstanding experience for both landlords and tenants. They should value timeliness, efficiency, and detail in every aspect of their work. Do they send you a detailed weekly or monthly review of property updates and spending? Do they actively reach out to tenants to ensure they are satisfied? Do they perform routine maintenance checks and make suggestions on property improvements or preventative upkeep? A successful property manager offers you cost effective solutions, efficient payment strategies, and streamlined communication, while also valuing a positive experience for your tenants. Satisfied tenants are more likely to pay rent on time and take care of your property, so a manager that cares about tenant experience also cares about your experience. A great property manager will not just fulfill your expectations, they will consistently impress you.
Strong, Lasting Relationships
One indication of a valuable business is the quality of the relationships they hold. If a company has many long-term relationships with maintenance providers, business partners, and clients, that suggests that they value meaningful and beneficial connections. Ask the company who they do business with and for how long. This is extremely important, because you want a property manager that values professionalism and trust. Not only do they have the best connections for quality and inexpensive maintenance and repair, but they value maintaining positive relationships, even with tenants, and are dedicated to helping you for many years.
Experienced and Growing
Of course, you want a company that has been around the block with at least a few years of experience behind them. However, a good property manager should also always be striving for improvement. They should be open-minded and constantly looking for new ways to improve their services and expand their abilities. This includes being tech-savvy and adopting the latest technologies and efficient business methods. At Utopia Management we have over 25 years of dedicated experience in property management on the West Coast.
You are the Priority
A smart property manager will first establish your priorities and goals in managing your property and adopt those as their own. Instead of instilling a predetermined, one-size-fits-all management strategy, they should discuss with you what the values and priorities should be in managing your property and act accordingly. Although they are the experts, they should always be aware that they could have something to learn from you, since you are the property owner.
Versatile and Thorough
Find a company that can offer a variety of services geared towards helping you through every aspect of owning a property, from caring for the property itself and managing tenancy, to discussing your individual investment options. They should go above and beyond the bare minimum of collecting rent and maintenance oversight. Common additional services include tenant screening, helping you write the lease, handling eviction and early termination, staging and showing the property, marketing, and personal investment consultation. They should tailor their services to your needs and conduct all practices with detail orientation, striving for perfection. Ask Utopia about our wide range of property management services.
Accepting of Constructive Criticism
A business that values you as a client and is always making improvements should be open and eager to hear your feedback. You should feel comfortable talking with your property manager on how they can improve or additional projects you would like them to take on. They should respond professionally and offer transparency in their ability to make those changes. The best property manager will have a perfect balance of humility and confidence.
Although every property management company has different strengths and weaknesses, the perfect manager for you will exceed every one of these expectations.