Property management companies provide you with a great source to manage your investment properties. Competent property managers and management companies can give you peace of mind and to ensure your tenants are in good hands. Here are a few tips for choosing the best Best Property Management Denver.
Tip 1: Check Reviews and References
Any reputable property management company should have reviews or at least be able to provide you with references. It is easy to find reviews on Yelp or Google, and you can even search through comments on a property management company’s Facebook page.
It is good to note that sometimes a scorned tenant can leave a negative review, so try to keep that in mind when it comes to negative reviews. Another great way to check sources is through the Better Business Bureau and Chamber of Commerce. This will show you any complaints or positive affirmations.
References are also a great way to assess a property management company. When you initially speak to a potential property manager, ask for any current client and tenant references. These should be available with no problem.
Call some of the previous tenants and customers.
When contacting customers, ask if the property manager responds to owner inquiries quickly. You should also ask if they are proactive when it comes to maintenance issues and filling vacancies? You may even want to know if their fees are transparent and if checks arrive on time.
When requesting tenant references, you should ask if they made sure the units were well maintained and if their repair requests were addressed quickly. Happy tenants are more likely to continue to give their businesses year after year, which puts money in your pocket.
Tip 2: Verify Licenses and Certifications
It is important to note that in some areas property managers are required to hold a real estate license, while in other states they may also be required to hold a property manager certification. Their broker’s license must be current, and any professional affiliations and certifications are a plus.
Tip 3: Make Sure They Have the Right Insurance
The right insurance is essential when you hire a property management company. You need to confirm that they have appropriate general liability insurance, as well as property-casualty insurance, and errors and omissions (E&O) policies. If they do not, then you may be in for trouble. Your property management agreement can also legally mandate that you have sufficient insurance. This should hold beneficial protection for you as well. You can also ask a prospective property management company regarding necessary insurance protection.
Before You Hire
Thoroughly evaluating potential property management companies is very important. Whether you are using a property management company for one unit or 300, you should feel comfortable with the service. You should also never feel less than satisfied.
Contact us today to learn more about our services. We want you to feel confident in your decision so you know your investment is in good hands.