If you are looking to hire a property management company, you likely already know that you have lots of options. But you may wonder how you know whom to go with. Learning what factors to look for when hiring a property management company can help you find the right company for your rental property. Here are some factors to consider.
What Is the Property Management Company’s Reputation?
One key factor to consider when you are looking to hire a property management company is the company’s reputation. Read reviews online or talk to people who have used the company. If you hear or see the same types of complaints, such as the property management company is unresponsive or chose poor tenants, you may want to steer clear of that company.
How Long Does It Take Them to Rent Out a Property?
When hiring a property management company, always ask them how long it takes them to rent a property. This will give you an idea as to how long the home stays vacant; the shorter the amount of time, the better, as you lose rental income when the home sits vacant. However, keep in mind that it does take time to flip a home after the past tenants have moved out. In some cases, the home needs to be painted, new carpet must be installed, and repairs may need to be made. As such, you want to find a company that doesn’t work too quickly or does shoddy work between tenants, but who also doesn’t take their time with the process.
What Is Their Screening Process?
Having bad tenants can be a costly nightmare. They can trash your home or fail to pay rent, and unfortunately, it can take months to evict a non-paying tenant. As such, always ask a property management company about their screening process for new tenants. They should verify employment and wages, run a credit check, ask previous landlords about the tenants and possibly even do a background check.
Do you need a property management company in the greater Eden Prairie, MN area? If so, give Gassen a call. Visit our website to learn more about the services the services we offer and how we can help you with your rental property.