Property management companies near you

What does a property manager do?

Property management covers a wide variety of tasks. The right property manager will have the experience and skills to handle tenants, problems, and paperwork. Their property management services extend beyond overseeing other maintenance workers. Some typical responsibilities include:

• Rent: Setting the rent, collecting it in a timely manner, and adjusting it based on current rates.
• Tenants: Finding, screening, and evicting tenants are tasks that fall to the manager. They will also oversee any tenants moving out.
• Complaints: Noise violations and other complaints or disputes should be handled quickly by the property manager to de-escalate any situation.
• Maintenance and repairs: While not necessarily performed by the property managers themselves, they are responsible for hiring any person required to fix the problem. Any repairs should be evaluated and approved by the property manager.
• Supervising other workers: Property managers will oversee and delegate tasks to other workers when necessary.
• Recordkeeping: Records of past and current leases, disputes, permits, and other important documents should be properly maintained.

 

Should you DIY or hire a property manager?

Depending on your experience, you may be able to handle property management services for your own property instead of hiring an outside company. Before you make this decision, it would be wise to consider the pros and cons of DIY-ing an important (and often large) responsibility.

Pros of DIY:

• Allows you to retain control of the entire process, down to the smallest decision.
• You will be able to choose tenants you like, set their rent, and maintain a close relationship with them.
• Save money by cutting management costs.
• Keep a close eye on the state of the property.
  
  

Cons of DIY:

• Property management takes a lot of time. Aside from being onsite and handling paperwork, traveling to and from the property can take up a lot of time if you do not live in the area.
• Depending on your experience, the right property manager would possess an in-depth knowledge of local laws regarding rentals.
• You will be responsible for fixing any problems and handling all of your tenants on a daily basis. Determine if you have the proper skills needed to meet this demand or if you will be able to acquire them before becoming your own property manager.
  
  

If your time and skills are more valuable elsewhere, or if you live far away from the property, you may need to hire another person to assist. If you decide you need a professional's expertise, search our list of accredited property management near you.

 

3 questions to ask when hiring a property manager

A property manager doesn't just go between you and the tenants in your building. A property manager represents you. When you are searching for the right property management services, consider these key questions to ask interviewees:

• "Are you local?" You will want a property management company that is familiar with the area and the locals. They can respond quickly and in person to any problems that could arise.
• "How many units are you currently managing?" The right property manager should be able to multi-task without becoming overwhelmed with responsibility. Be clear about your property's requirements and how much attention you expect the manager to provide.
• "How much property management experience do you have?" Ask not only how much experience they have as a property manager, but how much experience they have in repairs, legality, and even customer service.
• If possible, ask if they can provide references from current or past tenants.

 

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