4 Things to Look for When Using a Rental Property Management Company

October 30, 2019 0 comment

Something that most people crave is consistency. When you go to a burger joint, you’d expect to get the same quality of food from your local shop and from an out of town one. When you go to get your car serviced, you’d expect the same quality of service today and someday in the future. No one wants a wildly varying quality of service.

In the same way, tenants expect the same quality of service from their landlords whenever they enter a tenant-landlord relationship. Let’s face it, some people never buy their own homes for personal reasons. They opt to just rent because it is what fits their lifestyle. So every time they move, they go through the same processes of renting. Tenants who do it themselves have varying experiences with their landlords. Sometimes they hit the landlord jackpot and chance upon a landlord is very organized and easy to communicate with. Sometimes the pendulum swings the other way and they chance upon a landlord who takes months to address small repairs and is never around when you need them. Every landlord is different.

Property management companies are different too. There are those who have been around long enough to be able to fit tenants with the landlord that they feel would work perfectly together. There are those who just try to match tenants with whoever has a vacancy. But if you’re a renter trying to look for consistency, working with an experienced property management company could potentially give you the consistency you’re looking for. Here are a few things to look for in a property management company:

Experience
Most recent real estate development trends have a new rental property popping up every few weeks. In the Washington area, there is no shortage of rental properties. It’s safe to say that there will always be vacancies. Real estate management is one of the hottest business opportunities and a lot of people are jumping on it. Most of the new rental properties are being managed by landlords who are also relatively new to the business, many of which have not yet built a list of reliable contacts and resources who could help them with the daily management of rental properties. This could mean the difference between immediate action and a month-long delay. A month-long delay could be acceptable for minor repairs such as a broken fence, or for maintenance issues such as a broken hallway light. However, most of the time it could have real-life consequences with regard to the safety of the tenants.

Property management companies have a pool of go-to contractors and service providers who they could count on to provide consistent, and more importantly, immediate action. Not only that, they would have systems for coordinating finance and accounting as well. Look for property management companies who have solid experience and have an equally solid reputation.

Clear guidelines
As opposed to new landlords who are probably dabbling into rental property management, property management companies have clear guidelines and rules to follow for the tenants they work with. Rules are in place to protect both the landlord and the tenant. The tenant-landlord laws have slight variations depending on the state and a property management company worth their salt would know which ones are applicable for their clients.

These laws should be stipulated clearly in the lease contract and tenant information package. Good property management companies should keep tenants informed about rental updates, fees, scheduled maintenance, and routine inspections. They should also keep landlords updated about industry news and relevant updates in the local area. Some of them have client portals which both tenants and landlords who employ their services can access. Look for a property management company who has clear rules and guidelines and makes a consistent effort to keep in communication with its clients.

Commitment
Look for property management companies that are committed to their clients. These property management companies follow through. Property management companies have systems and guidelines in place for every scenario. For example, when a natural disaster like a storm occurs, they deploy inspectors to check the rental property for damage and then call on the appropriate service provider to deal with leaks, flooding, broken windows, leaky roofs, etc. Each repair would have its own streamlined process that is executed across all of the properties they manage, so their clients know that they will get reliable and consistent service.

Professionalism
One landlord who is managing multiple units or multiple properties would have a hard time juggling responsibilities and keeping track of work orders. This can get overwhelming, especially if they are new to the business or don’t have a lot of experience. These landlords sometimes enlist the help of rental property management companies so that they can keep on top of all the properties they manage. Tenants who are living in a multi-unit rental property could have a hard time getting their requests addressed because their requests can be part of a long list of other (more urgent) requests from other tenants in the building.

Property management companies maintain a standard and professional level of service. They know that they must deliver, otherwise they will lose clients. It is often easier to keep and maintain clients than to find new ones and re-do the onboarding process all over again. Look for a property management company that has a reputation for providing excellent service. You can find them through word of mouth (those who come highly recommended by peers and have a strong and loyal client base) or by searching for well-rated reviews on the internet.

At Davis Property Management, we provide a very professional level of service. We’ve been in the business long enough to know the ins and outs and we have a pool of reliable, trustworthy, and skilled contractors to handle repairs and other services. We’re here to help both landlords and tenants with all their rental property management needs and we’re committed to providing the best and most consistent service. Call us on 425-658-7471 and schedule a consultation with us today.

Davis Property Management

At Davis Property Management, we provide fast, friendly, and professional service tailored to your individual property management needs.