What to Look for in a Property Management Company?
What to Look for in a Property Management Company?
Many people turn to professional property management companies when looking to add a rental property to their investment portfolio. However, not all companies are created equal, and choosing the right one can be confusing.
If you're shopping around for rental property management in Bakersfield, CA, here are some things that you should look for before signing on with someone.
Should Be Licensed
It's against the law to do business without a license, and it is your protection as well. Look for a company that not only complies with licensing laws but also has liability insurance, proof of bonding, and proof of employment background checks on all employees who have access to client funds or property.
Along with this, make sure that the company is compliant with all federal and state fair housing laws. If they are not, look for another management firm.
Have an On-Site Office
Before you sign a contract or pay any money to a property management company, be sure that it's easy to reach them in person. Unless, the company has an office on the premises that is easily accessible, you won't check things out for yourself if something goes wrong. They should provide you with a local address and phone number to get in touch with them immediately if needed.
Good References
If they don't have any references, ask for them. If they can't give you any, it's likely that they are just starting in the business and don't have much experience yet. This is not necessarily bad, but it's something to be aware of before signing on with them.
Proper Experience
A management company with limited experience may not bring the type of expertise you need when it comes to rental property management in Bakersfield, CA. Whether they specialize in condos, single-family homes, or multi-units, find out if they have the knowledge and skills necessary to manage a specific property type before signing on adequately. If you have any questions, ask for more information about their level of experience.
Specialize in the Type of Property You Own
If you own a large apartment complex with multiple units, for example, your management company should be experienced at overseeing multi-unit dwellings. They should also have the necessary experience to handle the specific challenges of owning and managing this type of property, such as dealing with repair issues.
On the other hand, if they specialize in single-family homes, they likely won't have the necessary experience to manage a complex.
Assess Company's Level of Responsiveness and Involvement
All kinds of property management issues can come up, ranging from eviction notices to problems with leasing agreements. Good home rental companies in Bakersfield, CA should be available for consultation whenever you need them, even just to answer a quick question. They should also involve you with what's happening at your property, such as letting you know about vacancies and explaining how they handle applications.
Finding Property Managers that Care
When looking at different home rental companies in Bakersfield, CA, ask for references and call them. Keep looking until you find a company that has not only experience with residential properties, but also one that genuinely cares about their clients and the tenants they house.
It's only by asking around and learning more about each property management company that you can make an informed decision before signing on the dotted line.