Before you hire a professional property management company, you should take a look at their reputation. Any landlord should be really concerned about what owners and tenants have to say about that company, particularly online.
If property owners like yourself aren’t happy with a particular company, you probably won’t be happy either. Find out what makes current or former customers unhappy. It might be a property manager’s lack of communication or unexpected fees. Maybe the company didn’t do what they said they were going to do when they said they would do it. That can really damage a company’s reputation, so pay attention to what other owners are saying.
Your rental property will have tenants in it, so pay attention to tenant reviews too. It’s not unusual for tenants to be unhappy with a property management company, especially if they were evicted after not paying the rent or violating the rental contract. Those complaints should be seen as evidence that a property management company is actually doing its job well. However, if tenants are online reporting that a company didn’t do the repairs they said they would do or they weren’t responsive or didn’t show up on time, that’s a problem for you. Those tenants probably won’t renew their leases. That means vacancy costs and additional fees to find new tenants, and that’s not good. Take the time to read the reviews and really understand what they’re saying and where they’re coming from.
It’s not hard to research a property management company’s reputation online. Check out Yelp.com, where you can see a number of unvarnished reviews. There are reviews to be found on Google + as well. You can also ask the management company for referrals to their references. There’s a good chance they will cherry pick those, but at least you can talk to those clients and find out how they do business.
Reputation is very important when you’re searching for a property management company. If you have any questions or you need any help, please contact us at Progressive Property Management, and we’d be glad to tell you more.