How to find a good Property Manager
Plenty of sellers in today's market are having a hard time getting their home sold, and they're starting to ask a questions that makes them nervous: do I know a good Property Manager?
The obvious move is to ask your real estate agent. But there are a couple of reasons you may want to look further:
You're not happy with your agent. If the sale hasn't gone the way you hoped, that's probably coloring how much weight you give their recommendation.
You want a company that does property management and nothing else, so your home isn't competing with sales for attention.
When your home won't sell, renting it out is often the smartest move available. A good property manager can turn the property into income that offsets your mortgage while you build enough equity to sell successfully later.
Here's what's changed in recent years: property management software is everywhere now, and it's caused an explosion of companies offering the service. Often it's a real estate sales company or agent building a "listing farm"... a way to keep your property in the wings until you're ready to give them the transaction they actually make money on.
That can be convenient. It doesn't always make for a good experience. A company like True South Rentals, which does property management and only property management, has everything riding on how well your home is managed. If the market turns, you won't wonder whether your property has been moved to the back burner. And when something goes wrong (which, in this business, it sometimes does) you'll have someone walking you through it as a partner, because your home isn't a side gig here. It's the entire business.
If you're moving forward with hiring a property manager and you want to know how to find a good property manager, read the reviews carefully and pay attention to who wrote them. Focus on the ones from landlords and tenants. A five-star rating built on happy sales clients tells you very little about what it's like to have that company rent out your home.
Comments