As a property owner in Pinetop with intention to rent, you may have often wondered as to why you should hire a property management company to manage your unit. There are so many companies to choose from, the process can be overwhelming for a first-time-renter. When you find a team you’re interested in pursuing business with, there’s one thing you really need to know: What is it that they would do differently?
The truth is they handle the entire works right from advertising, to screening of tenants, to doing background check and finalizing on them. In addition they take up the responsibility of maintaining the rental as well. But it is necessary for you to find a responsible property management company who would be able to handle your rental as if it were their own. So here are the few questions that you can ask before hiring a property manager to care for your house in Pinetop:
What are their fees?
One should understand that fees may vary from as low as 4% to as high as 12%. It would depend on the size of the building and the rent.
How do they pick a tenant?
Efficiency with regard to screening tents, background checks and credit reporting of tenants.
Do they handle rentals like yours, or is yours the first?
If they have a number of such properties in their hands, then you should be sure that they are in good business.
Who is the person who will handle the rental?
Meet and interview the team to see how well versed he or she is in property management and handling disputes with regard to the same. Make sure you feel comfortable with the team.
Are there any hidden fees charged by the company?
Extra costs can vary between companies, and sometimes they’re hidden in the fine print. Make it clear that you want to have verbal explanation of all upfront fees as well as fees applied in various scenarios.
How does one have to pay the fees? Is it deducted from the month rent collected or paid in advance?
This is important to clarify in order to avoid hidden fees.
What are the different avenues for advertising your unit?
Do have a budget for that or do they just advertise in free sites and publications? The quality of the ad world differs in either case.
What are the steps taken to maintain the rental and keep it clean on an ongoing basis?
This is an important thing to ask, because a poorly managed unit can affect the tenant’s living experience and even lead to law suits over negligence.
What is their reporting structure and how frequently do they plan to connect with you?
Communication with the management company and how well do they respond to emergencies.
These are the basic question one would ask a property management company before hiring them. Since it is a long term relationship which is based more on trust, it is necessary to do a research, check on reviews before appointing them. Good property management companies will help look after your rental and make sure you have peaceful nights.