Key Tips for Finding the Right Property Manager

Purchasing real estate is often a large step in an individual’s financial portfolio. While this is an exciting moment it can also be stressful for those who may be new to real estate. To make this process as smooth as possible you may consider hiring an individual or property management company to manage your rental units. While finding a property manager can lighten the burden, it can also weigh a property down if the property manager chosen is not a good match for the property. It is important to find a property manager that is professional and has a reputation of trust in the community. But trust is just one factor in finding the right property manager.

Our property managers at NAI San Diego are experts in office space management, among other property types.

They must have a reputation built on trust

The primary question to ask yourself when interviewing potential property managers is if you would trust them in all other aspects aside from this business relationship. Some trustworthy property managers may take an approach like the property managers at NAI San Diego. Our property managers often work within our mission to, “manage each property with the same care and attention to detail that we would give our own property”.

Performs formal tenant screenings

The most professionally property managers always screen tenants through conducting background checks, credit checks and reference checks. A single bad tenant can be a bad situation for the reputation of a property and for any landlord.

Experience with your property type

Residential, commercial, and retail properties have different aspects that a property manager must be aware of. It is import that your property manager has the experience to handle the challenges that may come with your specific property. An individual with experience will be able to identify value-add opportunities and help increase your NOI due to their knowledge of rent and expense benchmarks for this type of property. The added value of industry knowledge will help you recognize where to spend, save and how to properly manage a property for an increased ROI.

Experience and knowledge

A property manager with little experience could easily make a mistake that could end up costing you. Your property manager should be able to handle all paper and office work associated with the property as well as be able to check on each property. The best situation is to hire someone who can regularly check on the property. An inexperienced property manager may easily make small mistakes that add up such as calling a professional over minor maintenance issues that could be resolved by a handyman. NAI San Diego’s property management team has a maintenance technician on staff to resolve all issues that may arise

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Business practices established upfront

Be sure to establish how you would prefer to keep in contact with your property manager and how often you want updates. Overall communication is all aspects is an important feature too look for in a property manager. You must be upfront about billing practices, maintenance services, their authority, and much more.