Here's What Every Landlord Should Look for in a Property Management Company

Managing your own rental properties can be a big hassle. One great way to reduce the hassle and potentially make more money from your rentals is by using the services of a property management company, but it can be tough to choose the right one. Luckily, looking for the following attributes can help you choose a property management company that will manage and properly steward your properties on your behalf.

Thorough checks on tenants

Some property management companies offer specials and take just about anybody in order to fill up empty inventory. This might seem like a good way to start pulling in a profit right away, but it's actually a good way to end up with tenants who won't take care of your property or pay their rent on time. A good property management company knows what to look for in a bad tenant and runs thorough background, employment and reference checks before allowing a potential tenant to move into a unit.

Experience (and lots of it)

There are some things that only come with experience. Although new property management companies might have good intentions, many of them can get overwhelmed and have a hard time maintaining their units. For best results, look for a company that has been in the business for a while and that has managed multiple properties in the past.

Knowledge of handling maintenance issues

A good property management company has its own maintenance crew or has people in mind to hire in the event that a unit needs servicing. Ask about how maintenance will be handled and how much it will cost you; you don't want to end up stuck with a property management company that won't take good care of your units or that will charge you a fortune for maintenance services.

Oversight of your properties

Make sure that you choose a property management company that is located near your properties and that will conduct inspections fairly regularly. A good property management company will keep an eye on your properties and ensure that they are in good condition. Plus, your property manager should know about what your tenants are up to and whether or not they are taking good care of your properties.

Hiring a property management company can make renting out properties a whole lot easier, but it's critical to hire the right company for the job. Luckily, keeping a few things in mind will help you make the right decision when hiring a property manager for your units, whether you have just a few or a bunch of them.