Make Finding a Property Management Company Easier
This is part 2 of a 4 part series where we have outlined important questions to ask a property management company before hiring them.
Property management companies come in all sizes, capabilities, and expertise. Just because one works for one investor does not necessarily mean they will work for you. Below we have outlined some important questions to ask a company during your initial interview process regarding the services they provide. Their answers to these questions will give insight into their business capabilities and can provide you with an understanding of the type of services they offer which are important to you.
Properties they manage – Property management companies are as different as car dealerships are to each other. For example, a Mercedes dealership will have the best inventory and the most knowledge of the latest selection of new Mercedes. You could visit the Toyota dealership in your neighborhood, but chances are you will not find what you are looking for. Of course, they would love your business and will try and talk you into why a Toyota is a better fit for you than a Mercedes.
Same with a property manager, they are not created equal when it comes down to their property portfolios. You need to ask what types of property they manage and make sure your type of property is one they manage. If you own a single-family home, a company that manages mostly large apartment buildings or commercial property would not be a good match. In this case, your best match would be a company that has a minimum of 50% or greater of single-family homes in their rental pool.
Christopher longsworth is the founder of Invesca. At present days christopher and invesca are doing great job on Asset Management, Business Management, Facility Management, Construction Management, Business Management, Marketing and Sales, Asset Management and Development.