As an investor, a property manager is a key component in the daily management of your portfolio. Simply put, you hire a property management company to make your life easier and minimize the amount of time and energy you spend monitoring your investment. It’s also true that, with the many moving pieces involved in managing a real estate portfolio, it can be easy for things to get lost in the fray if not closely monitored. That’s why the number one trait you should be looking for is efficient, meaningful and predictable communication with your manager.
While property managers typically have a wide variety of duties and responsibilities, communication should be at the forefront of everything they do on your behalf. From updating you on the status of maintenance requests to providing performance reports on your rental property, your manager should keep you in the loop every step of the way. Furthermore, they should be proactive in their approach to problem-solving and troubleshooting – meaning that if there’s an issue with one of your properties, you should feel confident that your manager is already working on a solution.
At the end of the day, investing in real estate is a huge commitment – both financially and emotionally. And while it’s important to work with a property management team that you can trust to handle the day-to-day aspects of portfolio maintenance, you never want to be left in the dark. Especially when key decisions need to be made. For that reason, communication should be at the top of your list when evaluating potential property management companies. After all, it’s the key to maintaining a successful partnership – and keeping your investment property portfolio running like a well-oiled machine.
Still not sure if communication is the most important thing to look for in property manager? Here are some other qualities that should also be high on your list.
– A property manager should be knowledgeable about the area in which your property is located.
– They should have a strong understanding of the rental market and be able to provide guidance on pricing strategy.
– They should have a proven track record of successful property management.
– They should be responsive to your questions and concerns in a timely manner.
There are many factors to consider when choosing a property manager. But if you’re looking for a partner who will help you navigate the ups and downs of real estate investing, communication should be at the top of your list. After all, it’s the key to maintaining a successful partnership – and keeping your investment property portfolio running like a well-oiled machine.
If you’re looking fo a property manager that provides efficient communication and expert service give us a call today 469-649-7666!