When it comes to finding a property manager to handle your Austin rental, there are many factors to consider. From services offered to reviews and costs, here's what you need to know before signing on with a company.
Check For Licensing and Insurance
Choosing a licensed, insured property management company is key to ensuring your rental is being properly managed and maintained. Make sure the company you are considering has up-to-date licenses from both the state and/or city and carries general liability insurance as well as worker's compensation insurance. Checking for these qualifications can protect you from financial liabilities or potential legal issues later down the line.
Evaluate Past Performance and Experience
When evaluating an Austin property management company, it’s essential to review their past performance and experience. You want to be sure that the company you choose is capable of successfully managing your rental property and delivering results. Ask them questions about their services, the relationship they have with their clients and how they handle any problems that may arise. Knowing this information can help you determine which company will be the best fit for your needs.
It’s also important to research their reputation. Online reviews, referrals from other real estate professionals, and word-of-mouth are all great ways to get a better understanding of how the Austin property manager runs their business. Ask questions like what their fees cover and if they have ever encountered difficult tenants. Arming yourself with knowledge is the key to finding the perfect property management partner for your rental property in Austin. With the right company by your side, you can rest assured that your investment will be taken care of properly.
Look Into Communication Protocols
Communication is essential when working with a property manager. It’s important to make sure that you feel comfortable reaching out with any questions or concerns that may arise. Ask the potential Austin property management companies you’re considering what their communication protocols are and how they handle tenant inquiries. This can help you decide whether the company will be able to provide an adequate level of communication and respond quickly to your needs.
Assess Their Availability
Before signing with any property manager, you must assess the company’s availability. You will want to determine where their office is located and how easy it is for you to access their services. Likewise, consider when they are open, as some companies may be closed on weekends or holidays. Knowing the availability of your chosen property manager will be essential to ensuring your rental is well managed.
Verify They Follow Local Laws
It is important to confirm that your chosen Austin property manager not only follows established best practices but also complies with local ordinances and laws. Depending on the type of property you are managing, you may need special licensing or permits in addition to meeting certain safety regulations. Make sure the company you choose is able to manage all necessary paperwork and adhere to all guidelines set forth by your city or state.
Performing due diligence in this way will ensure that you have a trustworthy and capable property manager who understands what it takes to keep your tenants happy and manage a successful rental business. Ask questions such as whether they are licensed, how many years of experience they have, what measures they take to screen tenants, and how they handle tenant complaints or emergencies. People and businesses with prior success will be more than willing to provide references or offer proof that they are in compliance with local laws and code requirements.