How Do You Research A Property Management Company?

If you have been looking for a Denver property management company to handle the rent collection, the repair, maintenance and other tasks related to your rental property, you have surely seen many attractive websites on which property management companies offer their services. Checking out all those websites is a very important step in finding the right property manager, but it is only the first step – here are some other things that you should do to ensure that the property manager you hire is the best, indeed.

Check the Companies on Social Media

Social media is a great tool for finding out everything about a company, the good and the bad alike. Check out the companies that you find suitable based on the quality of their websites using social media platforms. Visit not only the official company pages – take your time to read the comments as well, the opinions shared by the people who have used the company’s services will reveal a lot about the company’s reliability and professionalism. Pay attention to the effort that the property management company puts into replying to comments – you need a company that can handle both praise and criticism.

Use Word of Mouth

Asking around and talking to other property owners about the Denver property management firm that they use is also a very efficient way to evaluate local companies. You can also ask people who live in rentals about their experiences with the property management company that is in charge of their rental – if they say that they are happy with the company’s services, you can easily find out the name of that firm and include them on your list of potential partners.

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Contact Companies in Person

When you have a list with at least four or five companies that seem to meet your requirements, it is time to schedule personal meetings with each of them. Prepare a set of questions that helps you find out about the company’s previous experience with the type of property that you have, about the number of properties that the company is currently managing as well as about the size and composition of the company’s teams. Ask about the company’s procedures of finding and screening new tenants, about how they handle bad payers and evictions and how the company will handle the money collected from your tenants.

Evaluate the Company’s Ads and Check Out the Properties They Manage

Do not make a decision based solely on that first meeting – continue research to check out the company’s ads for finding new tenants for the properties they are in charge of and also visit a couple of the properties that the companies are in charge of. If possible, talk to some tenants of those properties, too.

Consider the Rates

Not all property management companies practice the same rates or the same fee structure. Ask for a written document with an itemized list of the services and rates provided by each company on your list and take your time to compare all the documents that you receive to make sure not only that your property management company provides excellent services, but also that you can afford those services.