Property Management Orlando vs. Real EstateIn recent years, many real estate offices have jumped into the management arena. You need to know that property management is very different from sales. They don’t correlate at all. When you’re looking for a property manager, you need experience, skill, and knowledge.
Processes and ExperienceWhen you’re screening and selecting a property management company, look at their processes and how they conduct business. You also want to look at the property manager. That person represents your boots on the ground. They are usually working with a broker, and you may never speak to that broker unless there’s a problem. So, you want to make sure you’re asking about the manager’s actual experience.
Attention to Detail and CommunicationAnother important consideration when you’re selecting a property manager is attention to detail. Are they problem solvers? There’s no room for an owner to be taken advantage of. It’s important to establish a proactive relationship between the manager and the tenants and between the manager and the owner. The communication lines need to remain open. You want to be sure your manager will stay on top of maintenance. You need someone who can balance taking care of necessary maintenance with avoiding unnecessary repairs and inflated costs. It’s important to get the best return on your investment.
Vacancies and Tenant Selection
Another thing to watch for is how your property manager will minimize vacancies between tenants. How will they get someone in there as quick as possible and make sure you don’t have a long vacancy? You need to know what their tenant selection process is. Find out if they are selecting arbitrarily or strategically, and if you will be asked to give a stamp of approval on the tenant.
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- Debbie Gloss