So you have decided to hire a professional property management company for your Arlington rental home.
How do you go about finding one?
There are plenty of real estate agencies and property management companies that offer residential management.
Choosing the right partner who understands your needs as an investor is vital.
Make sure that they are committed to helping you earn more on your property so that you can have a better investment experience.
It is also important to make sure that your property manager gives you the peace of mind that you’re looking for.
This way you can earn truly passive income as a landlord, without the stress and headaches that typically accompany property management.
As a landlord, you should never feel like you need to “manage your property manager.”
Let’s take a look at a few of the things you can do to find the best possible property management companies in Arlington for your rental home.
Ask for Referrals and Recommendations
Talk, Talk, Talk.
What’s the word on the industry?
Ask other real estate investors about property management. Find out if they have any companies to recommend.
Usually, landlords are willing to tell you if they’ve had a good experience or a bad experience with a management company. Most probably have experience working with multiple property management companies.
This is an industry that is built on relationships.
If you talk to a fellow investor that has been in the business for a while and is willing to speak highly of the company managing their properties, listen to what they have to say.
It is a good idea to ask for referrals from real estate agents, mortgage brokers, and even vendors who work with management companies all the time.
Look for an experienced property management company, and remember to never short change yourself on exceptional customer service!
Check Out Online Reputations
Everyone is reviewing products and services online these days, and property management companies are no exception.
When you find some companies that you’re willing to consider, hit the wide web and do a little online research.
You can read reviews and testimonials on sites like Google, and check out social media pages to get a better idea of what the company represents and how they work.
An Arlington property management company with a good online reputation is key. If you have questions about their online reviews, don’t be afraid to ask them about it.
Your questions are just one phone call away!
As a pro tip remind yourself that property management companies deal with two parties on opposite sides of the table–landlords and tenants.
So It is essential to read the reviews themselves and not just look at the star rating. This way you can figure out where the reviews are coming from on both sides.
Specifically, look closely at their reviews from landlords, because those will be most relevant to your situation.
Property management companies should always represent their client’s best interests. This is first and foremost, and if their clients (landlords) are speaking highly of them in online reviews, it is a good sign for how they will handle your Arlington property.
As a reminder, do your due diligence! You are trusting someone with the management of one of your largest assets.
Schedule Interviews with Property Managers
Once you have conducted a little of your own research, set up a time to talk with property management companies.
This will be useful in a number of different ways.
First, when you reach out to them, you’ll see how long it takes them to respond.
If you leave a message and don’t hear from anyone for three days, that’s not a great sign. If a company isn’t eager to earn your business, they probably won’t be so invested in keeping it, either.
When you receive an immediate response, you’ll know that they probably handle calls from current clients and tenants with the same sense of urgency.
Ask About The Technology They Use
Property Management Companies use a wide variety of technologies to best serve their clients. The company’s approach to technology can have a major impact on the results and experience for their clients.
Online rental applications are preferable, due to better efficiency and reliability. Find a company that avoids paper applications, because they take longer to process and are less efficient than online systems.
Do they have an online client portal? This is important for accessing banking information in real-time, and can be a very helpful resource for keeping records on your property. How do they handle work orders from tenants? Do they have technology to assist in fulfilling these work orders, and ensuring that they don’t get missed? What other technology does the property manager employ to benefit a client like you?
It is important to ask about property management technology, because it will give you an indication of the company’s approach to servicing your property.
Remember how we talked about not having to manage your property manager?
Providing a superior experience for both you and your tenants should be the main goal!
If a company still uses old school paper and pencil, it could be an indication that they are content with the status quo and are not proactively keeping pace with the competition.
That’s a Wrap
Remember to talk to other investors when looking for the right property manager in Arlington.
Make sure the company you choose has an online presence, and lastly conduct an interview and make sure you ask the right questions.
It’s good to know who is behind the doors of your assets, and whether or not they are reliable. If you have questions or concerns, contact Nomadic Real Estate today. With these tips and more, you are on your way to finding the best property manager in Arlington VA!