How do you find the property management that works for you? Read this!
Whether you have invested in commercial or residential rental property, a property manager can take a great burden off your shoulders with professional help. A property management company can take care of rental collections, trash pickup, property maintenance, and tenant evictions as basics, and some companies can also perform tenant screening and much more. How do you choose a property management company that’s the right fit for you?
Figure Out Your Budget and Needs
The first step is to figure out what you can afford to pay for property management and what property management services you are looking to outsource. A fair amount to pay is between 8-12% of your collected rent. Consider exactly what services you wish to outsource, being as specific as possible, to find a company that can meet those needs.
Search Far and Wide
Any venue to find a property manager is worth looking into. The wider your search is, the better. Of course, a property management company should be local to your rental properties, especially if grounds maintenance is a necessity. You can find property management companies online, through real estate agents, through other landlords, and through physical signage.
Research Each Company Thoroughly
The property management company should have information online that outlines what their approach is and what services they offer. Be sure to research each company you might like to hire thoroughly so that when you reach out to them, they won’t have to repeat information you could otherwise find out for yourself.
Understand Pricing
Understand that if the property management company sets a price, it should be within the standard of 8-12% of the property’s rent. The company might charge a monthly rate or request a specific percentage of the rental income.
Interview When You Are Ready
When you have your goals and budget set and a few property management companies that you might like to work with, check online reviews and don’t be afraid to ask for referrals. When you have gathered all the information, it’s a great time to finally reach out and chat to see which company would be right for you. In Frederick, Maryland, Clagett Enterprises is here to manage your commercial and residential properties.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook and Linkedin.