What is a property manager?
First things first: what is a property manager? Property managers range in their activity from property listings and inquiry and showing management to background checks for tenants, lease signing, move-in coordination, maintenance staff, tenant communication, and even accounting services.
Why hire a property manager?
Before we look at how to hire a property manager, it is important to consider why you might want a property manager. There are a variety of reasons to find a quality property manager. Some people have to move out of town but want to keep their property. They know that they will not be able to respond to tenant requests from out of town so they are looking for someone to find tenants and maintain the property while they are out of reach. Other people want to own property as an investment but don’t want to spend all of their time finding tenants, signing leases, and handling maintenance requests around the clock.
How to find a good property manager:
Ask how the property manager handles property listings, advertising, and vacancies. One thing you’ll want to make sure is that your property isn’t sitting empty for months at a time. Imagine you are a tenant seeking an apartment. Do you find the management company’s listings useful and easy to browse? If not, then neither will your prospective tenant. Find a property manager who can effectively reach tenants.
Ask how they screen tenants. Do they require background and credit checks? Do they share information on how many people get evicted from their properties? These might be helpful indicators in determining how well your property will be managed.
Ask about their maintenance plan. One of the main reasons people hire a property manager is so that they don’t get phone calls in the middle of the night about small issues. Will the property manager you’re considering handle these for you? Are they available 24 hours? Do they have a knowledgeable, experienced, and qualified staff? Are they sufficiently staffed?
Ask what the management fee is. The normal range is 8 – 12% of monthly rent, but occasionally it is a flat fee. Make sure you know everything that is covered in that fee so you can budget accordingly.
Ask how many units they currently manage. This will give you an idea of the size company you’re talking to. You probably don’t want to go with someone who is just starting out or someone so large that they may have trouble communicating with you or even remembering who you are.
Ask if they are licensed property managers. There are licensing boards in every state. In Ohio, the Ohio Real Estate Commission is able to license companies for property management.
Cincy Rents Property Management
If you are looking for a licensed property management company in the Cincinnati area then look no further than Cincy Rents. We have a helpful directory of available properties that is always up-to-date so tenants can find your property and offer an online application for tenants. We have 24/7 maintenance staff for our Full Management Service customers. Our Full Management Service has a 10% management fee and is competitively priced especially considering all that is included.