There are great rewards in having a portfolio of real estate investments. But what's not always rewarding is the herculean task of having to manage them all!
That's where property managers come in. They can handle tough tasks ranging from maintenance to dealing with tenant issues.
But you can't just hire any old property manager. If you're in a hot market like Bellevue, you've got to find the best one.
Here's what to do:
1. Try to Find a Local
You might live miles away from Bellevue, but your property manager shouldn't!
You need to find someone who understands the area. They should also be near your property if possible.
What happens if a tenant has an urgent matter?
You want your property manager to be able to attend to an issue as soon as possible. Your first step is to find someone who is local and knows the area well.
2. Do They Have a Team?
As a real estate investor, you'll have a network of workers for your properties. But you want to find a property manager who has their own team, so they don't need to rely on you.
The property manager should have a team of handymen with whom they have experience working with. Ideally, they'll have backup options if no contractor is available.
Make sure you ask them about their team and to provide you with case studios.
For example, they should be able to recall when an HVAC technician fixed an AC unit at the last minute.
Or they'll recall when a plumber fixed the drains just before a housewarming party!
In short, your property manager must always have access to the best team. They'll also know what problems might occur in your home. They'll anticipate these issues to tackle them without delay.
3. Can They Find Tenants?
Finding the perfect tenant is one of the biggest strains for many property owners.
If you don't want to go through this hassle, you should be able to pass it on to the property manager. They'll be able to assess a candidate to see if they're the right choice.
You want a property manager to interview these candidates. If you're busy, then the property manager should be able to make a decision on their own.
Good property management means that you won't have to worry about tenant issues at all.
If you find a property management company that can handle tenants completely, then you've hit the jackpot!
Find the Best Property Managers
Follow these three simple tips, and you'll have no problem finding the best property managers.
Always stick to a local property manager. They should know the area well and should be available at a moment's notice.
Furthermore, they must have access to a talented team. If there's any issue with your properties, they should be able to find the right technician without your help.
If they can find and screen the right tenants, then you'll have one of the biggest hassles taken care of!
Are you on the lookout for a property management company? Reach out to Brink Property Management!