Did you know there are almost 300,000 property management businesses in the United States?
With such a vast and varying industry, finding the best property management company for you can be difficult. It's especially difficult in large urban settings like New York and San Francisco. There are a lot of options to choose from, but they're not all worth your time and money.
Luckily, we're here to help you learn more about choosing the best one for you. Here are three of the most important things to be on the lookout for when you're researching San Francisco Bay property management companies.
1. Ask About Insurance
When you're looking around, be sure to always ask companies to detail their insurance policies for you. It's also good practice to ask them for copies of their insurance.
Every area has insurance requirements, and it's essential to ensure your property management company complies with the legal requirements in San Francisco. At a minimum, they should have enough to cover their own business, employees, and any of the properties they oversee.
2. Decide What You'd Like the Management Company to Handle
Property management is a two-sided deal — administrative and upkeep. The administrative side deals with things like writing leases, advertising, interviewing and screening potential tenants, or even speaking with potential buyers. With upkeep, you're focused on property maintenance, repairs, and even expansion.
Before you hire a management company, it's important to make sure you know what you want them to be responsible for.
3. Interview Multiple Companies
When you're interviewing potential property managers, it's important to set aside the proper amount of time. The best practice for this is usually an hour and a half, as it's going to allow you enough time to have all of your questions answered. Here are a few you should ask:
- How much experience do you have in San Francisco?
- How many properties are you currently managing?
- What are your credentials?
- What do your marketing techniques look like?
- Can you list some major housing laws that cause issues between landlords and tenants? Can you explain how you'd address them?
There are a lot of other great questions you can ask during your interviews, but these give you a great place to start. You just want to make sure whoever you're working with is a problem-solver rather than a yes-man. Those who can problem solve are going to help you succeed.
Ready to Start Working With San Francisco Bay Property Management Companies?
Finding a decent property management company in San Francisco can feel daunting, but when you know what to be on the lookout for things can become a lot easier. When your properties aren't taken care of, you can't operate at full capacity. You're going to be stressed and focused on too many other things to properly care for your properties and yourself.
That's where the best San Francisco Bay property management companies come in, though. At Kenny Realty, we're here to help your property remain (and you) remain at its best. Contact us today to get started.
Evan has been in the real estate and property management field for 6+ years. He is experienced in working with first time home buyers, is an Accredited Buyer’s Representative (ABR®), Seller Representative Specialist® (SRS) and Seniors Real Estate Specialist®(SRES®). He also works closely with Kenny Realty owners, getting their rental properties rented as quickly as possible. Evan is responsible for monitoring rental market conditions and advising our owners on market rates. He has outstanding communication with all clients he works with, keeping everyone in the loop at all times. He is the third generation of the Kenny family to practice property management on the peninsula.