Selecting the Best Property Management Company
If you have a rental property, you need property management specialists to help. The benefits of property management are numerous, from providing in-house maintenance to dealing with residents and ensuring your cash flow is positive and steady. There are options available to you for property management help in Birmingham and the surrounding area, but not all options are created equal. Here are tips you can follow to select the best property management company for your real estate portfolio. Ask for the Vacancy Rate When choosing property management companies, the vacancy rate – the rate at which homes in the overall portfolio are without a resident – is important. Here, at gkhouses.com, our vacancy rate is around six percent. Finding out the vacancy rate of the property managers you are considering is key, simply because you want your property to have a paying resident. The higher the vacancy rate, the more difficult it will be for that to happen. High vacancy rates can speak to a variety of problems, such as marketing issues or with poor maintenance or poor customer service. Learn About Maintenance Options Additionally, it helps to know how your home will be maintained. The best property management companies have in-house maintenance personnel, consisting of a crew that can respond promptly to resident complaints and deal with whatever issue may arise. It’s better than having to rely on outside contractors, both for time purposes and for financial reasons. See how your managers maintain their portfolio properties before making a choice. Find an Around-the-Clock Manager Finally, not all problems and issues arise from nine to five during the week. Many times, issues will emerge after hours, or on the weekend. You need property managers whose full-time job is property management, who focus on nothing but property management, and who can answer calls throughout the entire week and respond to any problem a resident or you have. The more available your manager is, the better off you’ll be in the long run. For more information on property management, contact our professional team at gkhouses.com.
Matthew is the CEO of Evernest. He is a student of the book Good to Great and is passionate about building the best property management company on the planet (and maybe even the universe if Elon Musk will hurry up). You can usually find Matthew at the baseball field with his son, at a dance recital with his daughter, or at his favorite restaurant with his wife, when he’s not in the office. And if you can’t find him in any of those places, it probably means he’s traveling.
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