When you’re looking for an experienced and reputable Hamilton property manager to take care of a single rental home or an entire portfolio, you should do a little research. Find out which communities they serve, what types of properties they manage, and whether their current and former customers have good things to say about them.
Once you’ve narrowed your search to a few potential property managers, schedule some interviews. You’ll want to have a conversation about your specific property and the services you need.
It’s a good idea to have some conversation topics prepared, and we recommend you ask some of these common questions:
How Does Your Leasing Process Work?
The leasing process covers everything from pricing your property correctly to marketing the home online to screening tenants and executing the lease. You’ll want to know what a property manager’s process is, and how they can guarantee that they’ll find you a high quality tenant quickly, and for the most amount of rent.
A company without a good leasing process has a high vacancy rate, places mediocre tenants, and doesn’t pay attention to the strength of the lease that’s signed. Make sure the management company you choose has a reputation for getting your property rented quickly to outstanding residents.
How Well do you Know the Local Market?
Understanding the Hamilton rental market is critical. You want a local property manager who knows the properties, understands the needs and desires of tenants, and follows all of the local laws, regulations, and best practices. A reputable community leader will help you have a better rental experience, and local knowledge will help you with pricing, marketing, tenant placement and maintenance.
How do you Handle Routine and Emergency Maintenance Needs?
It’s important to know that your Hamilton property management company has a process for routine maintenance and repair requests. Hopefully, they collect the tenant’s request, judge what needs to be done, and sends the appropriate vendors and contractors to take care of the work. You want them to respond quickly, and to keep your bottom line in mind. A well-maintained home is worth more and retains tenants, so you want them to be responsive and timely.
Emergencies will happen from time to time, so ask if they are available 24 hours a day for tenant maintenance calls.
How do you Utilize Technology to Manage my Home?
There is more technology available to property managers than ever before. Automated systems allow us to work more efficiently. With online portals, we can collect and pay rent quickly and electronically. You should be able to see accounting statements and maintenance invoices online, and you should have access to reports and leasing documents. Communication should also be easily facilitated, and your property managers should be available and accessible to you and your tenants.
There are some other questions you should also ask; for example, how much do your services cost and do you offer any guarantees. Find out if there’s an easy way to cancel the management contract if you’re not happy. However, the focus should be on the services they provide and the value they offer.
If you’d like to hear more about how we can help you, please contact us at Spotted Properties. We’d love to tell you about our leasing and management services for Hamilton rental homes.