Finding a property manager
Owning and managing a portfolio of rental properties requires time and dedication from you as a real estate investor. As you continue to grow your portfolio, you may want to explore hiring a property manager to ensure that you can manage your portfolio efficiently. A property manager would be able to take several tasks off your plate, such as maintenance requests and rent collection, which frees you up to focus on finding and purchasing more properties. As you begin your search for your property manager, what qualities should you look for and what are the best opportunities to find the right fit for your business? In this post, we’ll explore three tips that you can use to find a quality property manager.
1) Online Search
Online searches can provide you with the names of several different property managers in your area. Often that management company will have a website where you can find their contact information and their areas of service as well as any client reviews. Once you have a list of potential candidates, you can begin to narrow your list down to two or three choices that you feel check the most boxes for what you are looking for. You then would be able to contact them and further vet them before making your final decision.
2) Contact Local Landlords and Real Estate Investors
Contact other property owners and real estate investors that you’re connected with in your area and see if they can provide any recommendations for property managers. Other property owners and real estate investors would be able to share with you their firsthand experiences with different property managers and could attest to the quality of their work. If they are unable to provide you with any recommendations, they may be able to connect you with someone else who would be able to help.
3) Attend REIA Events
REIA events are great opportunities to network and connect with people who could be valuable resources as you build your rental property portfolio. Other real estate investors often attend REIA events and have great connections in their local real estate market. Other real estate professionals, such as contractors, at times attend these meetings and would potentially be able to provide you with the names of property managers that they’ve worked with in the past.
As you continue to build your rental property portfolio you will need to hire a property manager. Their knowledge and expertise in handling repairs and tenant requests helps you focus on your ultimate goals. By utilizing these three tips, you can find a quality property manager and turn your focus towards growing your real estate business.