Ask any landlord and they will tell you that a property management company can make or break your biggest investment.
Choosing a reliable and experienced property management company is essential in order to maintain the worth of your property. It is important to carefully research about the company before giving them responsibility to manage your most valuable asset.
We have compiled a list of questions that you should ask to a property management company before considering to share a percentage of your rental income with them.
1. How long have you been in the local property management industry?
There is no alternative to experience and knowledge. Your property management company should have sufficient experience and knowledge of the local real estate industry. Ask how long they have been managing properties in your area. You may also ask them to share the list of clients they have served so far. A good and trustworthy property management company will be more than happy to let you contact to their previous and current clients.
2. How is your company structured? Is there any dedicated department to entertain my needs?
Many property management companies in Fort Worth, Texas are involved in multiple businesses such as property leasing, property management, and property sales. Do not forget to ask if they have a dedicated property management team. You want a property management company that has an experienced team to address all administrative, leasing, and financial issues such as Property Management Fort Worth Texas.
3. What will be your strategy to find the best tenants for my property?
One of the most important functions served by a property management company is finding the best tenants for your property. Ask the company about how they will market your property and screen tenants’ background before handing out them the keys to your property. A good property management company should have a database of tenants searching for property in your locality.
4. How often will you inspect the property and provide reports to me?
Regular inspection visits are necessary to keep the property in a good shape and maintain its value. Ask the company about how often do they conduct inspections and how will they provide the report of inspection to you. A good property management company should be able to provide you monthly financial reports, inspection reports, and list of repair and maintenance done and their costs.
5. How much will you charge for your services?
It is important to pre-decide the charging mode and commission percentage in order to prevent problems and disagreements in the future. Some property management companies work on commission basis, while there are others that charge a fixed amount every month. Do not forget to mention commission rates and revision frequency in your contract with the property management company.
You now have plenty of information that can help you in finding the best property management company in Fort Worth, Texas. Be wise and choose a reliable property management company like Your Texas Realty and Investment. If you want to increase your bottom line and enjoy your investment, contact us at (682) 233-5660.
