In the United States, the property management industry reaches a revenue of $88 billion annually. This value shows that property management is essential to the US economy.
Owning one or more investment properties can get tedious, having to manage them all, especially if they're vacant. You must find new tenants, screen them, collect rent, and more.
This is where a leasing management company can help. They can take over the day-to-day duties of managing your investment real estate, leaving you more time for other tasks.
So if you're looking for a leasing management service, keep reading. Here are three ways to ensure you choose the best company you can afford.
1. Look Online
The easiest way to start looking for a leasing management firm in Livermore, CA, is to turn to the Internet. Nowadays, almost every company has a Google business page where customers can leave reviews. These reviews make it easy to see who you should and should not hire.
When making your short list of property managers, read the reviews. If a company has too many recent negative ones, move on to the next candidate.
However, it's important to only consider reviews in the past six months. You never know if things have changed since older reviews were left.
2. Compare Services and Costs
You can start comparing services and costs once you have a list of leasing management companies with good reviews. Typically, a property management company will charge a percentage of the monthly rent. This percentage can be between 8 and 12%.
For example, if the rent on your investment property is $1100 per month, the fee that the property management company charges would be $110. This calculation is based on a 10% fee.
Otherwise, they may charge a fixed property management fee. This fee depends on the property type, size, and leasing management services you require.
3. Meet In Person
Finally, once you've narrowed your list to one or two Livermore leasing management companies, consider scheduling a time to visit them in person. This way, you can get a feel for their company by seeing how well their offices are maintained.
For instance, if their offices look unkempt and dirty, they're likely cutting corners on costs by not hiring cleaning staff, or they don't care. If it's the latter, it leaves you wondering how much they'll care about the service they're providing. You can also ask them any questions you have about their services.
Find a Leasing Management Company In Livermore, CA
When you have investment properties, hiring a leasing management company is wise. Your leasing manager can control the marketing of your rental units, find and screen tenants, etc.
When looking for a property manager, read online reviews, compare services and costs, and meet the company in person. Following these steps should help you find your area's best property management company.
If you are looking for a full-service property management company in Livermore, CA, we can help. We have experts waiting to help you with your residential property management needs. Contact us today to get started with your free rental analysis.