Every major urban area, such as towns and cities, has many property managers. These are companies that have specialized in taking care of rental properties on behalf of property owners. They basically take up all the responsibilities of the property owner and in exchange, they get paid a commission for their services. They do everything from advertising rental vacancies and vetting tenants to paying property taxes and evicting defaulting tenants legally. Since there are many property management companies Houston residents can hire, be sure to exercise patience during your search.
When searching for the best property manager, there are several things that you will need to take into consideration. The following are some of the key factors to be considered when conducting your research:
a) Licensing
When creating your shortlist, only licensed property managers should be given any consideration. Therefore, the first thing to check before you can add any property manager to your list is confirm that they have a license issued by local authorities to offer property management services. The expiry date of the license as well as the license category must be checked because you want to hire a properly-qualified property manager.
b) Experience
The years of experience different property management companies Houston has to offer must be checked. This is because you want to hire a firm that understand the industry because as they have been around for a while. The ideal firm must have also previously managed many similar types of properties to the one you own. If you have rental retail properties, then the ideal firm should have plenty of experience managing rental real estate properties and so on. Experience is an amazing teacher, so be sure to take time to compare experiences and give priority to the most experienced property manager.
c) Fees
After collecting rent, you do not want the property manager to claim a significant portion as their service fees. The ideal property manager should charge 5% or less as management fees to ensure you have the greatest returns on your investment. Since there are many property managers out there, you can shop around to find the most affordable property manager for your needs.
The reputation a property manager has developed over the years should be given special attention. This is because you are looking for trusted and reliable property managers. Be sure to also confirm that a property manager is insured and bonded as this will help protect you from liabilities.
