Knowing how to choose the right property management company is as important as knowing what to look for in the right partner.
How to find the right company is all about where to look. Knowing what your property management company should do for you is the other critical part of the process.
Here’s what you should look for in your Dallas property management company.
1. Industry Experience
We all had to start somewhere. While there’s nothing wrong with being new to the industry, proven experience is a good thing to consider when searching for a company to manage your rental properties.
Look for a company that knows the area and the industry. They need to be familiar with local laws, the rental market, and how to keep your properties hassle-free for you. Your property managers should have access to the best market research to set the best rental price for your properties.
You need property management experts who know the best ways to deal with tenants, handle repairs, and make sure your homes are occupied and profitable for you.
2. Tenant Screening Procedures
Your property management company must guarantee a thorough tenant screening process.
The process should include background checks, reference checks, finances, and employment history. Your property management company’s job is to find the best tenants for your properties.
Tenants must be able to pay deposits and rent online–no cash or checks. They must also safely occupy your properties without worry of damage or criminal activity in your homes.
You are trusting your assets to another company to care for and maintain them. Your property management experts must have a nearly-foolproof process to put the right people into your homes.
3. Efficient and Accurate Procedures
The best property management companies have demonstrated operating procedures to maintain efficiencies and accuracies with your investments.
The latest advances in property management technologies allow automated systems to take the place of many manual procedures.
Property management companies send, receive, and store documents through automated systems with secure storage. Tenants pay rent online and can schedule payments to avoid late penalties.
When working with the best property management company, every step in the rental process is documented so that nothing gets missed. From maintenance to make-ready procedures, to move-in and move-out inspections–everything has a scheduled part in the process.
When this type of care is in place, your properties receive the best care. Plus, with this type of efficiency and automated payment systems, your bottom line improves.
4. Extensive Marketing Experience
You need to know that your property will be listed and rented quickly any time a vacancy happens. When your properties sit empty, you lose money.
Your property management company should be well-connected with high-visibility in the rental market. They should also provide professional, high-quality listing and showing services.
Look for companies who list properties in multiple places. Check the quality of listing photos and descriptions. Your property management company’s listings should stand out from the rest to attract the best pool of potential tenants.
5. Excellent Communication and Responsiveness
Property managers must respond promptly to your communications. They must also respond promptly to your tenants.
Look for a company who never makes you wait to hear back from them. In your initial conversations, they should respond to your questions and requests within 24-48 hours. That timeframe shouldn’t expand after you begin working with them as your property management company.
When tenants file on online maintenance request or reach out to their property manager, they should also receive a prompt response. Maintenance issues must be resolved quickly to avoid more significant problems and expensive repairs.
Your property management company is an extension of you as the landlord. They must make it a priority to handle all tenants with timely care.
You must feel valued, too. If you don’t feel like a priority from the start, it’s not the right property management company for your investments.
6. Peace of Mind
At the end of your search, your property management company should provide peace of mind that your investment properties are in the best hands.
Their job is to relieve you of the hassle or stress of managing the day-to-day responsibilities of tenants and properties. After you’ve reviewed the details and completed the research, go with the property management company that meets your requirements, provides the best services, and allows you to rest easy about your new partnership.
We Guarantee Peace of Mind
Uptown Dallas Properties guarantees peace of mind when it comes to managing your properties.
We have years of experience in the Dallas-Ft. Worth area. We promise to do whatever it takes to keep our tenants and property owners happy. From procedures to marketing to maintenance, we love what we do, and we’re ready to serve you.
Download our guide to finding the best property management partner below.