Owning a rental property can be a big commitment of money, time, and effort. That’s why it’s so important to have a property management company on your side to help ease the difficulties of being a landlord. However, it’s important to have a quality company to ensure you get the commitment and support you need. Here are three red flags to watch for that indicate you need a new property management company.
- Poor communication: Your property management company should be the middleman between you and your renter as well as your main contact for all details about your rental property. If your management company takes too long in responding to any questions and concerns you or your tenant have rather than answering right away, you need to find a new company as soon as possible. You should find a company that will respond right away with clear and reliable communication.
- Inattention to your rental property: Your property management company should take care of all aspects of your rental property, including advertising it, finding quality tenants, and managing service requests. If your company doesn’t seem as invested as they should be in keeping your property profitable for you, you need a new management company right away. You should find a company that offers comprehensive services and will take as great care of your property as you would.
- Poor turnover rates: Your property management company should be in charge of advertising, finding, vetting, and keeping your tenants. If you have more frequent move-outs or longer vacancies, then your management company isn’t doing a good job of vetting the tenants, caring for their service requests, or advertising your property. You need a new property management that will take great care of both your property and your tenants.
If you’re looking for a new property management company, you can turn to us at Thornburg & Associates, Inc. We have over 35 years of experience, offer comprehensive property management services, and value communication and reliability. You can give us a call if you would like to learn more.