How do property owners choose the property management company to handle their Tampa house rental investment? Is it based on how big the company is? Or is it because of the colorful ads they have out there?
These things are just outside appearances. And like all outer coverings, they do not last. And since you want your choice to last with you and your property, you definitely have to consider more important factors that a Tampa property management company should have.
Factor #1: Background of the company.
First and foremost, check how long the company has been handling Tampa rental properties, their performance and rating. Even if these things are important, they should not cloud your judgment regarding those property management companies in Tampa that are just new in the industry.
There are companies that are capable of providing better service even if they do not have the years and excellent rating that others have. It is best to check out as many options as possible. Do not opt for the first property management that you see or is referred to you.
Factor #2: Cost.
This would be the first thing you would consider when hiring a property manager. Fees vary from one property management company to another. The higher the fee does not mean it is the best. It would all depend on how the costs are distributed and if you think it is a fair amount to pay.
Besides the monthly retainer fee, there would be repair, maintenance, marketing and tenant eviction costs to consider. Property managers oversee these things for you. You can ask for a breakdown on how costs are distributed. Better yet, request for a regular accounting report so you will know how your fees are spent.
Factor #3: Customer Service.
Being a property manager means that he or she should know how to handle people. Your chosen company should have property managers that are organized, flexible, prompt and always available to answer any questions from you or your tenants.
Communication is important in this business. Be sure that your property manager can be contacted anytime that you have requests or inquiries. This should also be the same case when you already have tenants renting your property. Your property manager should be available to attend to anything that the tenant and your property require.
Factor #4: Rental Property Commitment.
Renting the property is just the first step. The duty of the Tampa property management company does not stop there. It is just the start. From then on, the property manager would have the house to monitor, rental fees to collect and reports to update.
Property owners are updated on the status of the rental property in Tampa via the property manager. Even if you are not anywhere near your property, you would know that you are in capable hands if your property manager is committed to making your home rental business smooth sailing and profitable.