How to Choose a Property Management Company | Greenville SC
August 18, 2016
It can be quite difficult to find the right property management company in Greenville, SC for you. Especially if you are new to real estate investments, you might not know the best way to determine which management firm is the right fit for you.
Finding the right property management in Greenville, SC will be a huge weight lifted off your shoulders by securing your investment and relieving you from all the day-to-day responsibilities. It’s especially beneficial to those who do not obtain the skills to maintain a house on their own.
The following tips will help you know what types of things to cover in your quest to find your ideal property management company in Greenville, SC.
Find the Firm That Fits Your Needs
There are a variety of different types of property management companies in Greenville, SC, so it is important that you find one that specializes in your particular area of investments. For example, if you are planning on investing in residential properties, make sure you search for firms that specialize in residential properties such as SRP Management Greenville in Greenville, SC. Commercial property managers may not be equipped to handle the types of problems that residential property managers face, and vice versa.
Another simple, yet important factor to verify is that the property management company you are interested in is licensed and actually manages properties. Some firms primarily sell properties, but you might not be able to tell which services they offer just from a name or short description so it’s best to make sure before setting up an appointment.
Going with the first property management company in Greenville, SC that you find is not recommended and may come back to bite you. It’s best to consider multiple firms and make sure to cover all your bases when deciding how to choose a Greenville property management company.
Going through a checklist with each firm of all the things you’d like your property management to offer will help in securing your investments. The goal is to be able to determine which company can offer you the best services at the lowest cost. Below are some important services to ask about:
How do they advertise vacancies? You want your properties to avoid staying vacant for too long, so look for a firm that will advertise vacancies aggressively.
How do they show properties? By finding out the process in which they show the properties, you’ll be able to see what types of precautions they use as well as predict if they will have success in securing quality tenants. For example, the odds of finding a tenant with a regular job are slim if they are only showing properties from 9am-5pm Monday-Friday.
How do they screen tenants? It’s very important that they perform a background check on every potential tenant as it can protect you from major losses. It only takes one bad tenant to ruin your experience with rental properties.
What is their process in collecting past-due rents? Make sure they have a good process in place. If they don’t, they are not a good choice for your property management company in Greenville, SC.
How do they control maintenance costs? Keeping up with regular maintenance is essential in managing properties, so make sure they have a solid process in place.
How do they handle after hour emergencies? Dealing with after hour emergencies is a necessity, so if they don’t have a system in place, they’re no good.
What type of accounting services do they offer to owners? Take the stress out of your next tax season by ensuring that they offer good accounting services.
How is their fee structured? Typically, you can expect a firm to charge 6-12% of the rent, but some property management companies in Greenville, SC may have different fee structures in place.
What type of liability insurance do they have? Protection from lawsuits is extremely important in this business. Make sure you will be covered!
Consider These Final Thoughts
When making your final decision in choosing a property management company in Greenville, SC, you should remember to read the fine print on the contract. Also, if you are trying to decide between two companies you might want to find out if either of them will help you build your properties beyond what you already own. If you can find a firm that will not only help you be successful, but also help you find properties at wholesale prices, you’ll be able to increase your cash flow and profits.
Take care in establishing a solid relationship with your property management firm in Greenville, SC and your real estate investing can go a long way and prove very profitable
SRP Management Greenville is a professionally licensed property management organization providing full service residential and commercial property management services in Greenville, Spartanburg, and Anderson as well as serving the entire Upstate and surrounding areas. Our portfolio consists of single family homes, condos, duplexes, apartments, mobile home parks, and commercial rentals.
Our customers are the reason we are in business. Without them, we have no business. We will treat each customer as we would wish to be treated; fairly and with respect. We will consistently provide our customers with the highest quality service and products with exceptional value.