Property management is a $99 billion industry with more than 300,000 property managers in the U.S. Property management companies look after the day-to-day operation of a Houston property. As an investor, you can avoid worrying about tenant screening and maintenance calls.
There are several steps in choosing the right property management company, including asking about experience and knowing their prices. In addition, it's also essential to read online reviews about property management companies.
Here's more on the best ways to choose a property management company for your real estate portfolio.
Experience
A Houston property management company comes with the right experience in managing your portfolio.
For example, when there are problems with electricity or windows, a property manager has a list of contractors to call instantly.
A property manager must have experience screening tenants. Knowing the law is essential when interviewing potential renters. You want to avoid a housing discrimination lawsuit or potential damage to your company for your Houston property.
The property management company is also an expert in marketing your rental units once they become vacant. The longer a property sits empty, the more money it costs investors. You want an experienced property management company with a marketing strategy to keep properties full.
Prices
Get a pricing schedule from a property management company. Know exactly how you will be charged as an investor and what you will pay for those services.
It's vital to receive an expected list of services. Be sure to find out what each service includes. The more services a property management company offers, the more expensive.
Are prices all-inclusive? Or do you pay separately for each service?
A property management company will charge between 7 and 10 percent of the monthly rent. Sometimes, these prices are negotiable.
Moreover, set clear goals about what responsibilities you expect from the property management company. It's important to discuss what you want and what you are willing (and not willing) to pay for.
Read Online Reviews
Online reviews can provide great insight into how a property management company operates. You can gain much knowledge about what others are writing on the internet.
You can learn about customer service and if the property manager is fair about fees. It's also an excellent chance to read positive or negative stories from people about their overall experiences.
There are plenty of websites to read for this information, which can help you determine which property management company is best.
Choosing the Right Property Management Company in Houston
There are several things to consider when choosing the right property management company in Houston. You'll want to think about experience and pricing. In addition, be sure to read online reviews.
Do you want the best property management company in Houston? Look no further! Contact us today and let us help you manage your real estate portfolio, so you can look for new ways to make money and make more real estate investments!
