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Believe it or not, there are approximately 291,978 property management companies in the United States.
That means if you're an investor with rental properties, you have many options when it comes to picking the best property management company for you. This is especially so in high a population area like San Francisco Bay.
However, not every property management company in San Francisco Bay is the same, and your options can make it challenging to determine which is best for you.
Read on to learn how to make sure you choose a great property management company.
Check Their Qualifications and Experience
Always start by making sure the company isn't a scam and has the experience to do its job well.
To make sure you're looking at a real property management company, ask them if they are licensed and review testimonials online. If they don't have either, don't risk it.
Checking reviews will also give you an idea of how great of a company they are and whether you want to work with them.
If they pass your inspection up to this point, feel free to ask if any professional or governmental agencies accredit them. Their years in business and staff experience are also great indicators of expertise.
Ask About Insurance
When looking for a San Francisco Bay Property Management Company, always have companies to detail their insurance policy for you. You can ask for copies of their policies too.
Every property agency needs to have insurance up to the legal requirements in an area.
There are many types of insurance property management companies need. Yours should have enough to cover their business, employees, and properties they oversee for property owners like you.
Prioritize Location
Location is a huge factor for deciding on management agencies. If your properties are in the San Francisco area, you should look at san Francisco Bay Property Management.
Property managers can more efficiently manage properties that are close to them. This is especially the case during maintenance emergencies at the property location.
Being nearby can also lower costs for you and affect your expansion strategy.
Consider Costs
Make sure you set a reasonable budget to spend on property management in advance so that you don't break the bank and still make a profit.
Ask management companies for their pricing after the totals of all services are accounted for and after tax. Make sure to also ask about any hidden fees.
Cover All Service Bases
On the topic of services, you should also make sure the company you choose can cover all the services you need. Property management is a lot more work than simple maintenance requests.
Consider the extent of help you need, including collecting rent, marketing, financial reporting, tenant screening, maintenance, and eviction protection.
Pick the Best Property Management Company
The property management company you pick will play a crucial role in ensuring your profits in the long haul. So, you must pick one you can trust to do a good job.
As long as you follow all 5 tips in this article, you'll be well on your way to a better investment future.
If you're looking for San Francisco Bay Area property management, be sure to check out our property management services today.
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.