Choosing a Brentwood property management company can seem a little overwhelming, especially if you’re not exactly sure about what you should be looking for.
Before you sign a management agreement and hand over one of your largest assets, you should ask a few questions and find out more about the company’s experience, values, and process for helping you have a successful and profitable investment experience.
Today, we’re sharing five common questions you should always ask a potential property manager.
Where and What They Manage
You need to know where the company manages most properties and what types of homes they specialize in managing. A good management company knows the local area well and is close enough to your property that they can get there quickly if there’s a maintenance emergency. Ask questions about the area to make sure the property manager really understands the tenants and the properties in your neighborhood.
You’ll also want a property manager who understands the type of property you own. If you have a portfolio of apartment buildings and multi-family units that you rent out, a management company specializing in single-family homes may not be the best choice.
Talk about Your Investment Goals
You need a property manager who will do more than find a tenant and collect rent. Talk about your investment goals now and in the future. If you’re hoping to buy additional rental properties and grow your investment portfolio, you’ll need a property manager who can give you good advice and lead you towards attractive opportunities.
Make sure the property manager you’re talking to is aligned with your investment goals and understands what you’re trying to accomplish. You might want to ask if they invest in rental homes themselves. If they do, you’ll know you’re getting personal as well as professional experience.
Ask about California Rental Laws
Things have changed in the legal landscape, and you want to make sure your Brentwood property manager is on top of those changes and the requirements that come with them. Someone who doesn’t know the law will put your property at risk. You need to be compliant. With new rent control laws, just cause eviction laws, and other regulations that affect screening, leasing, and security deposits, you need to be sure your property manager understands the laws and has a plan for staying up to date.
Look for an Investment in Technology and Communication
Your property management company should utilize technology and automate whatever can be automated. This supports efficiency, transparency, and consistency. So, ask if tenants can pay rent online and whether you’ll receive your rent payments via direct deposit. Find out how they handle accounting statements and maintenance requests. If they’re not using technology for things like marketing, screening, lease executions, and renewal notices, they might not be as modern as you need them to be.
Communication is also important, and technology can support better tenant and vendor communication.
Why Should You Work with Them?
The final question you should ask any property manager is why you should work with them instead of other companies. Ask what sets them apart from their competition.
You’ll notice we didn’t suggest you ask how much property management costs. This is something you will certainly get to when you’re exploring your Brentwood property management options, but we believe service and value is far more important than cost.
If you have any questions for us (in addition to these five), please contact us at Parks Property Management.