Commercial property renting is a challenging job. If you are planning to hire a property manager to manage the rental units then it is crucial to choose the right professionals. Be careful because the property management company you choose will be representing you before your tenants.
Below are some right features to look for while hiring a reliable property management company. A good property management firm like Keyrenter St. Charles has been offering tailored services. The Keyrenter team is well-aware about how to handle the tenants, property repair and maintenance, and are trusted in the real estate niche.
Key features to search for in a Property Management Company
Ask who will be the manager as well as who will support her/him. There has to be a skilled expert team associated with different fields like engineering, HR, accounting, lawyer, and more. They offer best practices and advice to the property manager. It helps to deliver the best property managing services.
The property manager needs to handle a professional decorum among the staff and vendors. A great property manager keeps the staff motivated. He/she deals with vendors, accountants, and attorneys professionally.
Standard operating procedures
Make sure that the potential property management company has a proven operational procedure developed. It includes a preventive maintenance program, transparent financial system & budget, full audit of every vendor & contracts, and property value enhancement solutions. Even check their tenant screening procedure and how they schedule a showing.
Great communication skills
The property manager’s role is to ensure smooth administration, which needs the involvement of every tenant and staff involved in the building. Misunderstanding is the root of conflicts often caused because of lack of communication.
The property manager has to be a great listener as well as understand what is being told. His/her perspective of many interested parties [shareholders, the board of directors, multiple unit owners] has to be balanced [or diplomatic].
In a community association, different issues frequently pop up. the property manager needs to perform a balancing act, where the practical issues associated with the building needs to be handled without losing sight of duties towards all the tenants.
The biggest complaint is property managers don’t respond to phone calls. Generally, they are in charge of employees, supplies, finances, boilers and an array of responsibilities that need multi-tasking and incredible organizational abilities. Nevertheless, they need to be proficient in responding to tenants’ issues. In this digital era, even property managers are expected to respond ‘instantly’.
Real estate is a long-term game and not a one-night stand. Therefore, partner with a property management company having the same mindset.
A good property management company keeps a building engine run smoothly all the time!