You wouldn't choose a commercial investment property without confirming it has a good foundation and meets your expectations. Why would you choose property management services without the same level of due diligence?
Hiring the right property management company can make all the difference in ensuring your success as a property investor. Use these tips to find the best company in South New Jersey. Completing these steps will ensure you find the right fit, leading to less stress and future profits.
Hire a qualified, professional property management company today!
Proper Credentials
There are over 296,000 property management businesses in the US (a 2.1% increase since 2022). With new businesses entering the industry, it's important to find an experienced team. Otherwise, they could fail to offer the expertise you need.
Determine how long each company has offered their services in South New Jersey. Confirm that the team has the proper accreditation. Their credentials and accreditation will speak to their level of expertise.
You may find property managers with the following credentials:
- Certified Property Manager (CPM)
- Real property administrator (RPA)
- Accredited Management Organization (AMO)
- Service Organization Control (SOC 1)
- Systems Maintenance Administrator (SMA)
Make sure they're aware of local laws and regulations. If the company lacks the proper credentials and experience, continue searching.
Explore Services
Over 70% of property managers perform property inspections, leasing, and advertising. Not every property management company will offer the services you need.
Look for a property management company that offers help beyond everyday tasks. Instead, choose a company that offers a comprehensive suite of services, such as:
- Rent collection
- Retail vacancy marketing
- Property maintenance and compliance
- Tenant placement and retention
- On-call property managers
- Accounting and reporting
- Web-based portals
The property management software market could grow by a CAGR of nearly 5% by 2028. Look for a company that can offer access to state-of-the-art technology. Their software will streamline operations, saving you time and money.
Good Reputation
A company with a strong reputation will want to maintain that reputation. These companies are more likely to offer top-notch services to meet a client's needs.
Check Google Business, Yelp, and the Better Business Bureau websites. Look for problems that repeat between clients. Chances are, you'll experience the same issues.
Finding a company with a glowing reputation can help you feel more confident in its abilities.
Compare Costs
Ask each company about their fee structure. Determine if you can customize the agreement based on your needs. You shouldn't have to pay for services you don't want.
Determine if their fees are based on the monthly rent, a flat fee, or per project. Ask for a copy of the contract and get each company's quote in writing.
Compare costs between three local companies to determine the average cost of services.
Find Property Management Services Today
Don't choose the first property management services you find. Instead, do your due diligence to find a capable team. With their help, you can experience financial stability in today's competitive market.
Want to simplify your search? Look no further than PMI Property Service. Our experienced, licensed professionals can help your business thrive.
Contact us today for property management you can trust.
