Any savvy Brevard County landlord understands the importance of employing a reliable and reputable property manager. However, finding an experienced and knowledgeable property manager for your rental unit can be a daunting task. There are many companies to choose from, and the terms they use may be confusing or unfamiliar to you — especially if you’re new to the rental property market. In this article, we’re listing five essential questions to ask when hiring a property manager in Brevard County.
What Experience Do You Have in the Property Management Business?
Experience is essential in the property management service. If you want to protect your assets, your property manager must have a proven track record. They should also have an in-depth knowledge of local landlord-tenant laws and be equipped to represent you and your best interests.
Before hiring a property manager, be sure to ask them about their past experience and ask for reviews from current and previous clients. This can help you gain a greater understanding of the company and how they conduct their business.
What Property Management Service Do You Offer?
Not all property management firms offer the same type or level of service. It’s essential to sit down with any potential property managers and discuss your expectations and needs. Do you require full-service property management, tenant placement, or something more specific? Ask detailed questions about the list of services provided, which can give you a good idea of what to expect.
Rent in Brevard offers a comprehensive range of services, including regular maintenance, rent collection, tenant screening, marketing, and financial reporting.
Do You Charge Management Fees While A Property Is Vacant?
Most property management companies charge a recurring monthly fee for their services. The problem with this is that you are paying for it whether you need their services or not. Here at Rent in Brevard, we operate differently. We charge nothing during the time your property is vacant because you aren’t using our services. This way, you are only charged when you need our help to rent your property, which keeps costs down. In addition, we also offer a 45-day tenant placement guarantee — as long as it is priced within market value!
How Do You Determine Your Rental Rates?
Determining rental rates can sometimes be tricky. As a landlord, your main goal is to figure out what will bring you the most profit—but there are other factors you and your property manager must consider when pricing your unit. Put simply, determining your rental rate requires research, knowledge, and experience. When interviewing, be sure to ask what any potential property manager’s process is.
A good property manager understands the local market and has the knowledge to conduct an accurate rental market analysis. This can help guide you to the best rental price you can achieve according to current market conditions and demand. Experienced property managers can also advise you on how to best optimize your rental unit.
What are your monthly management fees?
As discussed above, different property management companies have different pay structures, depending on the level of service they provide, among other things. Some may ask for a percentage of the rental rate, while others may charge a flat rate. Regardless of how they invoice, it’s important to ask for a transparent explanation of all fees. Understanding the costs of your property manager will help with financial planning.
At Rent In Brevard, we combine decades of property management experience, unparalleled customer service, and innovative technology as part of our comprehensive service. If you’re a landlord in Brevard County who’s looking for a property management company to help with your rental portfolio, we would be happy to answer any questions you may have!