What You Should Know Before Hiring a Property Manager
For people looking to hire a residential property manager, Miami Beach has a lot of options. Property managers are great because they take the administrative burden of renting a property off your hands. They handle all the inspections, evictions, repairs and maintenance. Ideally, at the beginning of each month all homeowners need to do is check their bank account to make sure a new check arrives on time. Unfortunately, that’s not always the case. As with any company, there is good and bad. Taking time to hire the right property manager can save you money and make owning a rental property a breeze. Read on for some important tips on what you should know before hiring a property manager.
Conduct Your Own Due Diligence
Thankfully people have a lot more resources these days to do research on a company. With so many places to submit online reviews, reading peoples’ real experience dealing with a property manager is only a click away. Facebook, Yelp, Google and other site reviews are a great way to get a general impression of a company before you reach out to them. Better yet, seeking referrals from friends and family in the area is an easy way to find a good management company. Look at their website to see how big the property manager’s portfolio is, or if they focus on a certain area of property management. Call them up and schedule an interview. If you’re hiring your first residential property manager, Miami Beach has plenty of local options, so an in-person meet-up is advisable.
Sweat the Small Stuff
Property owners might be in a hurry just to have someone else deal with tenant issues. However, racing into a contract without understanding it is a big mistake. Owners should understand what the division of responsibilities is between themselves and the manager. Know what percentage of rent the company is charging, and how they source labor and materials for repairs. Do they use their own contractors or subcontract out? Inquire about how they deliver statements and make sure they can be understood easily. Call the office a few times and make sure the customer support quality is good.
Help with HOAs
When choosing a great residential property manager, Miami Beach is a must. One of the best things about the right property manager is they will help keep up with Home Owner Associations. For communities with owner-occupied homes, property managers will make sure owners don’t run afoul of HOA guidelines. They make sure tenants understand the HOA rules and stay in compliance. They pay the dues on time and can be a direct line of communication with the HOA about any issues that arise.
JMK Property Investment specializes in providing quality full-service management to homeowners in the greater Miami area. We partner with our clients to maximize their properties’ potential and provide needed support for tenants and other residents. Get in touch with us to talk about how JMK can help today!