How to Select the Best Property Manager for Your Property

How to Select the Best Property Manager for Your Property
Hiring a property manager will lower your workload and give you assurance that, should any
problems crop up, an experienced professional will take care of them immediately. Whether
you’re looking for apartment, public housing, office, or condo property management, you need
to ensure that you pick the right manager for you.
1. Gather Referrals
A good place to start is asking for referrals. Ask your network, including the realtor who sold
you the property, for suggestions.
2. Look for Accredited Companies
Accreditation signifies that a property management company meets strict professional and
ethical standards. It also shows that the company has the abilities to deal with any issue in an
efficient and timely manner.
3. Seek a Company in Your Area
Ideally, a property management company should already be familiar with your area. This will
mean that managers are knowledgeable of your target market and how to serve your clients.
4. Find a Company with the Right Experience
If you’re looking for condo property management, someone who has more experience in
shopping centres would be a poor choice. Ask property managers how many years they have
worked with properties like your own, including how they made improvements and coped with
challenges.
5. Check Out the Services Offered
Find out what types of services the company offers. Ideally, you want a company that provides
a full array of services, including administration, consulting, and financial management.

Some services are essential; for instance, all high-quality property management companies
should support managing owner and tenant funds. This includes handling rent income, reserve
funds, security deposits, and other basic financial tasks.
6. Read the Policies
In addition, you need to know how services apply to your property. Do some incur extra costs?
Plus, when will the property manager be available? Reputable commercial management
companies work around the clock, but many have separate coverage policies for support
outside of business hours.
7. Contact the Property Manager
Talk to potential commercial management companies and make a note of your first impression.
Bear in mind that will benefit you to pick someone personable, as this will increase the chances
that prospective tenants decide to rent from you.
Research potential commercial management companies in your area and create a list of
possibilities. Then, add those that fulfill all the above criteria to a shortlist. Next, talk to the past
and current clients of these companies, especially clients with similar properties to your own.
After you’ve discussed any concerns with the references, you can finally narrow the list down to
your top choice.