What services does a property management company typically provide??? What should you look for in selecting a management company??? Thanks.
First, I would ask
I would ask them to detail what they do along with the total cost. Some property managers charge 5% (of total rent) while others can go above 15%. Is there an extra charge to fill vacancies? Where will your property be advertised? How many properties are they currently managing and how many personnel do they have on staff? How do they handle a tenant that does not pay and do they take care of evictions? How are the repairs and maintenance taken care of… and how quickly? Will the company take care of repairs below a certain threshold (with your agreement) without contacting you? What about the paperwork trail for tenant payments, maintenance issues, and property management costs. How often will you receive statements?
I’m sure I left out a bunch of things but these were a few that came to mind.
I would encourage you to read thru the old posts in the this forum. This topic has been routinely discussed in great detail with a number of excellent contributions for a variety of folks.