Finding the Right Property Management Company

During recent years investors have enjoyed buying, selling and owning investment properties. It has been a truly great market. It is anticipated that this market will continue to prosper even during the recent events. 

You may have already built up a sizable portfolio, managing them all on your own, but now you’re ready for some professional help.

Self-management of investment property can be complex and time consuming. Professional property management services can free up a lot of time and help you realize additional income from your property without all the added headaches. But who should you hire? 

We understand this is a really tough decision and we are ready to share our experience with you. 

No matter where you own investment property, property management is very similar between locations. So no matter if you’re in California or Arkansas, here are a few tips to help you choose the right company for you. 

While monthly management fees should be a consideration, more importantly is how they are performing. You will want to ask performance questions such as. Good property management software provides these numbers easily for a management company to track them.

1. What are the average days on the market?

2. What is your company’s average delinquency rate?

3. What is your average turn over time? 

4. What is your average cost to owner for turn overs?

5. What is your tenant retention rate? How long is your average tenant staying?

6. What is your owner retention rate? Can you provide me with references?

7. What is your eviction rate? How long does it take to remove a problem tenant?

8. What value services do you offer? What are the fees for additional services?

Property managers rely heavily on set processes and procedures. These questions will be sure to put the interviewee on their toes. Most experiences managers will have no problem detailing them for you. 

1. How do you handle HOA violations? Do you charge for this? 

2. How do you handle lease renewals? Am I notified? How long in advance?

3. How do you handle tenant lease violations?

4. What is your late policy and how is it enforced?

5. What about non authorized pets or additional occupants?

6. When do I receive monthly statements and pay out?

7. Do you provide all invoices with the statements each month?

Last thing you will want to consider are any additional “fees for services “not included in the monthly management fee. Be sure to ask about.

1. New Leasing fee

2. Renewal fees

3. Advertising fees

4. Co-op fees ( for outside agent referrals)

5. HOA compliance 

6. Maintenance service charges 

7. Inspections

8. Invoicing fees

9. Records fee or fees for book keeping items

If you would like additional information on How to Choose a Management Company or have investment property in the Las Vegas/Henderson Nevada area and would like to give us a proper interview… shoot us an email at management@rrvegas.com or call us at 702-685-9999

We will be glad to help and look forward to the opportunity to be of service. 

Results Realty Management Team