What Should You Look for When Searching for a Property Management Company in Los Gatos?

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When it comes to successful real estate investing, your property manager is one of the most significant and instrumental factors. A qualified property management company will protect your investment and ensure rental income is maximized.

By hiring a property management firm, you allow yourself to be put in another person’s hands. After all, the property manager you choose will act as the liaison between you and the tenant. You want to be sure the property firm you hire is accountable, professional, skilled, and accomplished.
If this seems like it’s a lot to ask for, you’re wrong. There is a high volume of property management companies to choose from and selecting the right one is a  key component to success. Here are a few tips to help you find a company whose attributes will be most advantageous to your needs.

Always Check for Credentials

As you search for a property management company, the number one thing to check is if they are licensed and insured. Find out if they are affiliated with any organizations such as the NARPM, or National Association of Residential Property Managers. As a member of NARPM, property managers receive access to various educational opportunities, up-to-date information on the rental laws, have an understanding of rent values and vacancy factors, and are familiar with numerous vendors to help with any maintenance issues. In addition, make sure they’re experienced and have been in the industry for a while. Ask for references from their existing landlords and contact those owners to hear what they have to say about the company.

Are They Professional?

Regardless of the type of rental property you own, a property manager should always remain professional and punctual. When you meet, the agent should show up on time, dressed for the part, and treat everyone in a professional manner. If a property manager doesn’t meet those standards, then it’s likely they won’t be able to manage your rental unit effectively.

Are They Technology Friendly?

Technology is another huge factor to consider when choosing a property management company. In this day and age, technology is an everyday aspect of our lives; we use it for almost everything. So wouldn’t you like your property manager to be the same? It’s important to note a great property management firm will have a media-rich website, direct deposit for tenants, and property management software to track data.

Are They Readily Available?

A good property management company always keeps an open line of communication with owners and additionally, has an emergency line available at all times. This shows excellent customer service skills and implies they hope to create a long-lasting business relationship.

Always Thoroughly Read the Contract

Some property management companies tend to have hidden charges, whether it’s leasing fees or refurbishing fees, and it’s important to talk with the firm about all possible costs. These fees are fairly standard across the industry and an owner should be aware of them before signing a contract. Be sure to hire a property management firm with reasonable fees.

Above all, choose a property management company that will protect you and help grow your business. The right property management company will reflect this in their everyday operations.

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Showing 6 comments
  • Tim Cassidy

    It is crucial for new property owners to know what to look for in a property manager and to also make sure that their needs will be met. I just recently posted a blog about what to do next after one inherits a home. Take a look at the link I included and I would love to know your thoughts.

    Tim

    http://sandiegopropertymanager.com/san_diego_property_management_blog/view/938/inherited_a_home_in_san_diego__what_s_next_

  • Wil Lopez

    When choosing property managers, you are absolutely correct in that owners need to be sure the property firm they hire is accountable, professional, skilled, and accomplished, because after all, as you suggested, they will serve as liaison and essentially represent you to your tenants. Some additional considerations we find helpful to owners is to ask the property managers specifically how they market and advertise, and how much these services cost. Not knowing may prove costly in the long run. Here’s a link to our blog:

    http://www.utahsentinelgroup.com/articles

    Hope you take a look at it and find some helpful advice on it.

    Wil

  • Brad Larsen

    There are obvious advantages to hiring a property manager. You mentioned, for one, that they will have a media-rich website, direct deposit for tenants, and property management software to track data. We like to point out that a good property manager will, in addition, find outstanding tenants through thorough screening. We know what to look for, and how to find the tenants. Take a look at our blog for additional advice on the issue: http://larsenpropertymanagement.com/what-is-property-management-in-san-antonio-what-do-you-do/

    Brad

  • Scott Hampton

    Having someone that has the credentials and act in a professional manner is a good indicator that they take their job seriously and those are the people you ideally want to work with so that you can gain a greater peace of mind on your property. I created a blog post on the same topic in regards to realtors, feel free to check it out and let me know what you think. http://www.leasingorlando.com/property-management-blog. Good luck in Los Gatos.

  • Jaime Caballero

    I’m glad that you brought up that a landlord will know about the local laws that are imperative to manage a property. A good property manager will also have the connections to vendors and contractors to ensure things get done efficiently. I outline a few other points in my blog, http://www.keywestpropertymanager.com/property-management-blog. Take a look and let me know what you think!

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