Upon the last count, over 31% of households in Pittsburgh were renters. All of those renters need somewhere to live, and you want to welcome them to your property, right?
Managing a property is hard work. You have a lot of responsibilities to take care of. That's why you're considering hiring a property manager, right?
But how do you find the right one amidst a sea of competent property managers? Let's talk about it. Read on to learn more.
1. Ask About How Many Properties They Manage
When you start talking to local property management companies, one of the most important things to ask (that many people forget) is how many properties they manage.
You want to find a property manager with the right balance. If they manage too many properties, they may not have enough time to devote a lot of attention to yours. If they don't manage any (or if they only manage a few), they may not have enough experience to truly do the best work.
This will also vary depending on the size of the company. A small company with only a few people can handle fewer properties than a large one. A smaller number would not be a red flag for a small company just as a larger number would not be a red flag for a large property management company.
2. Ask About Their Fees and Fee Structure
Of course, you will have to pay for professional property management services. What differs between companies is how much you'll pay and how the fee structure is set up.
Most of the time, the property management company will charge you a percentage of your property's rent every month. Make sure that you keep in mind that you'll still be paying if there's no one living in the vacant property.
You should also ask if they charge extra for anything such as eviction or marketing. This may be included but you shouldn't assume. Get as much information about payment as possible early on.
3. Ask About Their Services
Not all property management companies offer the same services! When you're trying to choose a new property management company for your property, make sure they have the services you need.
So what might those be?
Most property management companies will help with marketing and tenant acquisition so you don't have long-term vacancies. They may or may not work with a professional photographer or stager to get great photos.
Property management companies may set up online payment portals for your tenants. They likely also handle maintenance. Make sure you know if they have an in-house person for maintenance or if they hire a contractor.
If there's any specific service you need, don't be afraid to ask about it.
It's Time to Start Finding Property Managers
If you're looking for help with your rental property in Pittsburgh, why not start looking for a property manager? They'll help you take care of your property so you can sit back and relax.
At HomeRiver Group, our team of property managers is ready to help you out. Contact us to get started today.