Owning a rental property in
Redding, California, can be a rewarding way to gain or earn passive income and enhance your investment portfolio. However, managing rental properties requires commitment and a proactive approach—imagine handling a 4 a.m. maintenance emergency yourself!
To alleviate the everyday hassles of property management and free up valuable time, many owners opt to work with a professional property management company. The right company not only saves you time but can also help boost your
net operating income (NOI).
If you're on the lookout for a property management partner, it's crucial to ask insightful questions to determine if their services and business philosophy match your objectives. Here are some key questions to get you started.
Essential Questions to Ask a Property Management Company
1. What range of services do you provide under your Property Management Agreement (PMA)? Property management encompasses more than just leasing, rent collection, and maintenance. A comprehensive Property Management Agreement should cover all aspects of management, such as tracking financial transactions, providing monthly accounting statements, and preparing annual reports for your taxes. Make sure to understand what is included in their services and any associated costs.
2.
How many units do you currently manage? Entrusting a company with your property management means more than just delegating tasks like maintenance and repairs; it involves entrusting them to manage relationships with your tenants and protect your investment. It's vital to choose a firm that not only secures high-quality tenants but also has the infrastructure, processes, and staff to provide continuous high-level service.
3.
How long have you been managing investment properties? Experience matters in this nature of business. Companies with a long track-record are likely to have refined their processes and can offer you the quality and reliability you need. While newer companies may be eager to please, they may lack the necessary experience.
4. Is your property management company licensed? Always ensure that you are dealing with a licensed real estate brokerage that is fully insured. This protects both your property and your legal interests.
5.
Do you personally own investment properties? Working with property managers who also own
rental properties can be beneficial. They understand the owner's perspective firsthand, allowing them to offer practical advice and empathetic service.
At
Authority Property Management, we provide comprehensive property management
services tailored for both single-family homes and multifamily properties in and around
Redding, California. Our team is committed to delivering exceptional service to tenants and maximizing returns for property owners. To learn more about how we can help manage your investment, please give us a call at 530-410-6085.
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