There are nearly 900,000 employees providing property management services in the U.S. alone. However, even with all these companies to choose from, you could risk going with the wrong property management company if you don’t do due diligence, and that includes thorough research.
Selecting the right company to oversee your property is an important decision that could have long-term consequences if you do not choose the right firm. Choosing the right company is worth their weight in gold and going with the wrong firm could cost you a large amount of money in the long run.
Look for These Traits in a Property Management Company
Experience and Expertise
When you have chosen the right property management company that means that the company will have a great deal of industry experience and expertise. They are charged with creating a variety of reports, including reports having to do with financials and interpreting them as needed. They also have to stay current and up-to-date on landlord/tenant laws and government regulations so they remain compliant and prevent legal issues from happening.
Good communication is critical when it comes to you working with a property management company. Why is that? Property managers are the buffer between the two parties and they must be sure that there is consistent and accurate communication happening at all times. Additionally, the company must always be easily accessible.
A first impression is everything, and that goes for a property management company, as well. A Tri-Cities property manager gives its first impression with its marketing and leasing services. A sloppy presentation can create a poor impression. What’s more, it is imperative that a property management company exude professionalism in its dealings with colleagues and fellow employees, along with clients and tenants. There will be occasions when you need to deal with matters of a very sensitive nature, and it is important that the property management firm is compassionate yet firm. As a result, it is vital that you work with a licensed and recognized company to bring about a higher return on investment.
Property managers are often wearing a lot of hats and handling myriad and diverse responsibilities. And no matter how busy things get, they need to remain focused and stay on top of their agendas. That is why you should look for organizational skills as a primary trait in a successful property management team. Fortunately, a majority of property management firms leverage software applications and tools to help them stay on top of all their duties and responsibilities.
Good People Skills
The truly successful property management companies make their clients and tenants their highest priorities. It is imperative that they get along well with people when they interact with them on a daily basis. They must maintain their composure and serve as a trusted advocate when it comes to their dealings with the owner/investors and tenants, as well as for the management team and its co-workers.
A Modern, Highly Functional Website
Although there are not necessarily standardized rules for websites when it comes to property management companies, there are several qualities that you should pay attention to.
Are they easy to navigate? – It should be clear how to get around on the website.
Informative – After you visit a Tri-Cities property management website, you should be able to find out all the important aspects of their company, and this includes areas where they serve, the types of properties they manage, and integral players on their team.
Resources – More than simply a digital business card, the rental management website ought to present relevant, helpful information that makes it possible for your investment property to operate at optimal effectiveness.
Professional Marketing Materials
The marketing collateral that a property manager produces will give you useful insight into the quality of materials they create for their properties. For example, they should utilize quality paper ideally suited for the purpose, images should be professional, and the photography ought to be well-lit and complement the layout.
When it comes to how the property management firm is showcasing its properties, you should consider the following criteria:
- Clear and Crisp Images and Photos: Do you struggle to view important details or look past distracting, pixelated pictures?
- Do the images emphasize the relevant, and most important facets of their properties, or do they all look the same, regardless of each property’s unique qualities and features?
Online Features Should Complement Your Business
In an earlier era, websites could get away with merely conveying information in promoting a business in order to be effective. Nowadays, an effective, fully functional website needs to be a full-service marketing tool.
A website for a Tri-Cities property management company should help owners and renters interface in productive ways to make their jobs easier. Here are two qualities you should be on the lookout for when evaluating a website for a Tri-Cities rental management company:
They must offer renters online rental payment options: Rent collection should be as simple and quick as possible. With so many online payment methods spanning several sectors of industry, the vast majority of renters are accustomed to expect online payment portals when it comes to paying their rent. What’s more, renters ought to be able to use this online portal to submit maintenance requests, as well.
Property management companies should provide online owner portals for statements and communications: Organizing your statements should not involve a burdensome reorganization of your filing system, especially since banks, utility companies, and other professional entities all generate online statements. Online communication enables all parties to send questions to each other in real-time, offering convenience and efficiency.
Full-Service Property Management with Jerry D. Abrams Company, Inc.
Jerry D. Abrams Company, Inc. is uniquely focused on providing an ideal experience for the owners and tenants of commercial and residential real estate. We give owners and tenants this great experience by using over forty years of property management and leasing expertise.
We aggressively work toward reducing operating expenses and increasing cash flow for our clients. Our team of professionals has the experience of managing investment properties for more than 40 years.
Our objectives include performance excellence, professionalism, communication, responsive/personal service, and attention to detail.