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Tips for Avoiding Bad Property Managers

In an ideal world, all property managers would be awesome. But in real life, not all property managers have the same training, skill, education, or personality. Therefore, you’ll need to be observant and careful when it comes to choosing one.

How they advertise vacancies

An excellent property manager would advertise aggressively. That’s good news. You don’t want your property sitting empty for too long. Look at the quality of the ads as well. Are they compelling enough for renters?

Tour schedules and hours

How many times do they offer tours to your property, asks the Business Insider. If they have a schedule they stick to–tours only on certain days of the week, from 1 in the afternoon to 6 in the evening–then that’s going to cut out a lot of potential applicants. So go with a property manager who’s flexible enough to accommodate last-minute viewings as much as possible.

The screening process

Are they doing background checks? A bad tenant can really mess up your finances or lead to more trouble than they’re worth. If the property manager is more interested in filling up the vacancies than looking for the right tenants, then that manager needs to go.

Rent collection

How will you receive the rent? The property manager should offer a simple, fast and efficient solution. If it’s too complex or there’s a bit of lag time between rent collection and sending over the funds to you, then you’ll want to know why so you can correct that misstep.

Accounting services

Some property managers help you balance your books by keeping all the property’s records and paperwork organized. You’ll definitely have an easier time balancing the books with a property manager by your side.

Keep the above in mind to help you stay on the lookout for the kind of property manager you want.

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