Lucky 8 - Checklist What should you be looking for in the best Property Management Company?
The sole point of contact for any issues relating to your property, and of inquiries of the owners. A responsive approach to these contacts offering informative and relevant solutions to the queries. All delivered by a multi-lingual team that can communicate effectively, whatever the topic. The knowledge that they can offer will be invaluable to you when needed. Choose wisely.
If you have “Guests” on your property. They must be treated as guests… Guest services is a branch of the hospitality industry that most forget when looking for property management. Your guests are your family/friends, and/or your income, they deserve to be treated as such, and therefore no matter what, your property management company should treat them with as much diligence as they would the property owners.
Package services – Beware a “one size fits all” or “packaged” service. You, your property and your property use are all unique. A generic package that is offered will not necessarily suit your needs. Look for a property management company that will offer a tailored service, and design your management package around your needs and that of how you intend to use your property. By gaining this bespoke service, you will always be happy with the results, as you are fully aware of what is being managed.
Responsive maintenance repairs and quotes for works – Effective communications are important in providing an efficient and cost-effective solution to all maintenance issues. If general works are to take place, the owner is to be contacted in advance, and if larger works are required, expect to receive quotations in advance. Any emergencies that occur should be organized on your behalf as part of your management agreement.
Services – The better the management company, the more the services that will be offered. Before choosing a property management company, take time to investigate which services they perform, and what you are actually paying your management fee for. All too often Owners join a management company unaware of the hidden extras. Transparency here, and with the services that the management company can perform are key
Property consultations and suggestions for improvements – Your property needs constant supervision, and care. The management company should be in constant contact, advising of issues or offering suggestions as to maintain or improve the standards of the property in order to give the best property experience possible. Do not just let the management company sit back and relax. Ask for property consultations or improvements suggestions. If the property management company cannot do this, then they are not the right ones for you.