When you’re looking for professional property management in Houston, TX, you need to find a company that does excellent work but also provides a good fit for you, personally. Your relationship with your property manager must be based on respect and trust, so follow these tips to finding the best management company for you and your investment property.
Focus on Services
The first question that many people ask is: how much do you cost? Don’t ask that first. You want to know what kind of services you’ll receive for those fees. That’s more important. The fee structures are so different, that it will be hard to compare one company to another when you’re simply measuring how much it costs. Find out what one company will do that the others won’t. That’s your real value.
Property Management Experience
A good property manager will have a lot of experience, especially in your local market. Ask how long they have been in business and check out their website. You want to see a focus on property management, not real estate sales and other businesses. A property manager should be focused on management to provide you with the best possible service. Check out the company on the Texas Real Estate Commission’s website and make sure they have a real estate license, which is required for property management in Texas. Talk to a potential property manager about how they stay current in the field. Continuing education and memberships in professional associations are important.
Communication and Responsiveness
Your property manager needs to know how to communicate. A property manager also needs to be responsive to the needs of tenants, and able to get along with a diverse group of people. This is a service industry, and the management details include fiduciary responsibilities and obligations to different constituencies; from tenants to owners to vendors. Look for managers who can express themselves professionally.
Property Management Fees
After you have talked about services, you can discuss fees. Ask about whether there are separate fees for different areas of what the manager does, or whether there is one fee that covers everything. Discuss whether you’ll be paying a flat fee or a percentage of the monthly rent you earn. You will usually find a leasing fee, a management fee, and a renewal fee. Any other fees should be transparent. Look at the management agreement so that you aren’t surprised by hidden costs.
If you have any questions about finding a property manager in Houston, please contact Terra Residential Services.