A reliable and competent property management company can quickly become a landlord’s greatest asset — after their property portfolio, of course! A good property management company can maximize your rental property revenue and help you avoid costly mistakes. Put simply, can you afford not to have an experienced property management company helping you manage your rental portfolio? For most landlords, the answer is no!
In this blog post, we’re highlighting some of the most important things you need to look out for when hiring a property manager. Keep reading for five tips to find the best property management company in Brevard County.
1: Opt For Experience
Good property management companies don’t just claim they offer quality service — they can also back it up. Everything from satisfied customers, positive testimonials, online reviews, and even the number of clients they have can give you insight into how experienced a property management company is. Be sure to ask potential property managers if their company has any experience with non-paying tenants and security deposit disputes, and if so, how they handled this. An experienced property management company should be able to discuss all potential issues they’ve encountered and how they resolved them and protected their client’s interests.
2: Research Their Industry Credentials
Reliable property management companies should have a proven track record of industry excellence. Utilizing the Better Business Bureau (BBB) consumer resource is a great place to start. In addition, property managers in Brevard County should also have a valid real estate sales associate license to meet the Florida Real Estate Commission (FREC) requirements. Most successful property management companies also have affiliations with industry groups such as the National Association of Realtors (NAR), which helps to regulate real estate operations. The property management company you choose must have credibility and the correct professional licenses to perform the job legally.
3: Ask About Their Marketing
No one wants their rental property to sit empty. Strategic marketing plays an important role in optimizing your occupancy rates. When interviewing potential property management companies, be sure to ask them about their marketing strategy and how they plan to advertise your property to buyers. Online real estate websites such as Zillow, Trulia, and Hotpads are crucial to maximizing exposure.
In addition, good property management companies are up to date with all fair housing laws, landlord-tenant, and real estate laws, and they should ensure that your rental adverts comply.
4: Ask Them About The Local Market
The best management companies have in-depth knowledge of the local Brevard real estate market. The state of Florida, Brevard County, and even the different cities and communities have a unique real estate market. It’s crucial to engage a property management company that understands your local rental market and what renters are specifically looking for.
The best way to gauge how familiar a potential property manager is with the Brevard rental market is to ask them questions that address your location, property, and rental goals. Each landlord, property, and area are different, so try to avoid property managers who opt for a one-size-fits-all approach.
5: Understand What Services Property Management Fees Cover
The cheapest out-of-pocket option isn’t always the best. Put simply; the wrong property management company could end up costing you much more in the long run. It’s essential to find the right balance between quality of service and cost. Property management can be time-consuming and stressful. Most landlords don’t have the time to market their property, handle lease agreements, triage renter complaints, chase up tenants, and complete scheduled inspections. An experienced property management company can take care of the day-to-day responsibilities while protecting your investment for years to come.
If you’re looking for experienced and affordable Property Management in Brevard County, contact us today for a rental analysis and find out how we can help protect your investment.