It's hard to believe that there are around 28,200 property managers throughout Texas.
Hiring a property manager is all about finding the right fit. A quality property management company can make a significant difference in your investment's success.
How can you sort through all the options in Texas? Read on for three qualities of an amazing property management company.
1. A Communicative Property Manager
A property manager serves as the primary point of contact between you and your tenants. Their role is critical in the following:
- Maintaining tenant relationships
- Resolving issues
- Ensuring your property remains in good condition
One of the key signs of a quality property manager is their responsiveness. When tenants have concerns or maintenance requests, a good property manager will promptly address them.
Timely responses not only keep tenants satisfied but also prevent huge issues. This can contribute to tenant retention and reduce the risk of rental property vacancies.
A communicative property manager will also keep you informed about your property's status. They should provide regular updates on the following:
- Maintenance
- Rent collections
- Any changes in tenant occupancy
2. A Proactive Approach to Leasing Agreements
Leasing agreements are the foundation of a successful rental property investment. A quality property management company will not only draft comprehensive leasing agreements but also proactively enforce them. Look for a company that ensures all lease terms are adhered to by both the tenant and the landlord.
To maintain leasing agreements, a property manager should perform routine property inspections. These inspections help identify the following:
- Any lease violations
- Property damage
- Maintenance issues that need attention
When lease terms are always enforced, it sends a clear message to tenants that the rules are to be followed. This fosters a responsible tenant community.
A proactive approach to leasing agreements can also help prevent disputes and protect your investment. When tenants understand that the property management company takes lease terms seriously, they're more likely to comply. This lowers the risk of rental property vacancies caused by evictions or lease violations.
3. Efficient Handling of Rental Property Vacancies
Rental property vacancies can be a huge drain on your investment income. A quality property management company will have effective strategies in place to reduce these vacancies. Look for a company that excels in marketing your property and attracting reliable tenants.
Effective marketing involves showing your property's best features. A quality property management company will use the following:
- Online listings
- Professional photography
- Targeted advertising
They want to make your property stand out. They should also have a system in place for screening and selecting awesome tenants. A property manager should ensure that the turnover process is swift and efficient.
This means coordinating the following:
- Maintenance
- Cleaning
- Inspections
- Paperwork
Do You Need a Great Property Management Company?
Every owner deserves a standout property management company. Looking out for these signs will help you protect your rental property business. You'll enjoy a more successful and profitable investment.
Do you need a property manager in the Houston, Texas area? Contact Terra Residential Services to discuss our outstanding property management solutions.
