A Guide to Choosing a Property Management Company

A Guide to Choosing a Property Management Company

Did you know that since 1965, more people in the US have been renting instead of owning a home?

Owning a rental property can be a lucrative investment. However, to grow your business, you'll need professional help to manage the details. Many people look to property management companies to help them succeed. But it can be tough to know where to begin if you're just starting out.

Keep reading this guide to learn how to select the right property management company for your business!

Do Extensive Research

Your first step to finding a reliable property management company is to conduct thorough research.

Start on Google by searching for companies in your area. It's a good idea to look at least five different companies. Then you can narrow your list down even further once you decide on your top three choices.

Be sure to check for information such as:

  • Client testimonials
  • Google and Yelp reviews
  • The different types of properties they serve
  • How long they've been in business
  • A list of fees
  • Contact information
  • What areas do they serve
  • Types of services

Get Referrals From Other Rental Property Owners

Referrals from other local rental property owners can give you a lot of insight. Start by checking with friends, family, and colleagues. Many people have worked with local real estate agents and know somebody that can give a reference. 

Doing this will allow you to narrow your list down even further or add a new option you didn't consider before.

Find a Local Property Management Company

Filling your vacancies quickly is the key to your success as a business. A local property manager will thoroughly understand the local real estate market, including the local demographics. 

They'll be aware of the area's challenges, including the local laws and regulations governing rental properties. Remember that laws can vary from state to state, and even different cities have different regulations.

Finally, they'll have relationships with various local vendors if you need specific repairs or replacements that fall outside the scope of regular property maintenance repairs.

Look for a Variety of Available Services

Ideally, you'll want to find a company that offers a full range of rental property services. Ensure you check for specific services, such as:

  • Rent collection and lease enforcement
  • Eviction assistance
  • Online options for tenants to make payments
  • Maintenance and repairs
  • Tenant screening like credit history and criminal background checks
  • Marketing services like 3D tours and models that showcase your property

Don't hesitate to ask the company for more details about their services. Remember, a full range of services gives you more time to manage your business and focus on acquiring more rental properties.

Hire a Local Property Management Today

If you're looking for a dependable property management company in the Oklahoma City area, you won't need to look any further than HomeRiver Group.

We offer full-service property management, including tenant screening, eviction protection, rent collection, and marketing. 

We look forward to working with you, so be sure to reach out and contact us today for a free rental analysis!

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