At Real Property Management Sunstate, something that makes us stand out is how much we want to help you and your business succeed. We are a thoughtful, caring Boca Raton property manager that is here to help. Unfortunately, some property managers, even those with the best intentions, aren’t always organized or focused on customer service.
As you determine you need a property manager to help with the many tasks that come with being a residential property owner, ask in-depth questions to be sure the manager can serve your needs. For example, our services include:
- Ongoing communication
- Comprehensive marketing & advertising
- Thorough tenant screening and selection
- Full-service leasing
- Timely rent collection
- Regular evaluations
- Cost-effective, reliable maintenance
- Strict and compliant evictions
- Comprehensive accounting
Start with a similar list of every service you’re looking for when hiring a property manager in Boca Raton, as well as business qualifications, and go from there. Gauge their level of experience, commitment, and understanding of your property type. Most importantly, watch out for the following red flags.
Red Flag #1: They’re “Too Busy” for You
Property managers are there to ease the stress of handling many different tasks; if they seem too busy to take on any more properties, that’s a major red flag. Watch for signs like constant tardiness, bad communication, and obvious distraction. Even if the property manager is polite and dedicated, if they seem overwhelmed then try to get a feel for how much time they can really spend on your property.
They might be trying to get as many properties as possible to grow their business, especially if they are new and need the cash. While it may be hard to get a direct answer on how busy they are, remember that the property management company should be doing everything they can to prove their value to you. If they seem too overloaded to do this and don’t take your interview seriously, don’t hire them.
Red Flag #2: They Don’t Understand Your Market
There are many different types of rentals; while a property manager may be experienced in one type, they may not be strong in another. For example, a company who specializes in large commercial spaces may know very little about the condo market.
At Real Property Management Sunstate, we solely work on residential property management. This focus allows us to hone in our expertise and give our full attention to all of the properties that we manage. Find a Boca Raton property manager that fully understands your market and will be able to take care of your needs.
Red Flag #3: Property Vacancy Rates or Evictions are High
If a property manager has high rates of vacancies and evictions, that is another major red flag. For example, we can fill a vacant rental within a month. If you ask the property manager to explain their history of keeping properties filled, they should be able to provide specific information on past performance and timelines. If they are brand new, they should still have a solid strategy in place. If they don’t have either, keep asking questions.
Why aren’t they getting tenants? Let them explain in case the situation was out of their control. If they don’t have a good answer, though, then you should heavily consider if it’s worth the risk to hire them.
Red Flag #4: No Proof of Performance
Along the lines of being able to provide information on how they quickly get tenants and how they retain them, the property management company should also be able to provide data on how they have been successful with their properties. They may not be able to give detailed numbers to protect the privacy of other clients, but they should be able to speak to high-level performance statistics like the number of properties filled or tenant satisfaction.
If they can’t give you any information on how they have helped property owners in Boca Raton, they are either disorganized or not performing well. You don’t want to hire someone who isn’t going to help you get the income you need.
Red Flag #5: Pricing Isn’t Realistic
Generally, you can expect that an experienced property manager with a long history of success may come at a higher price than someone just getting started. That being said, do some research and ask around for quotes to get a good understanding of competitive rates.
You don’t want to overpay, but you also don’t want someone who charges so little that it shows a lack of understanding of the finances required to manage a property in Boca Raton, Florida.
Red Flag #6: No Inspection Records
Does the property management company mention inspections? Or do they brush it off as something that isn’t part of their process?
A property manager should be involved in the properties they handle, especially when they first take them on and need to gather information on what needs to be fixed.
At Real Property Management Sunstate, we conduct evaluations at move-in, move-out, and periodically. This is a key step to document any repairs that need to be made or tenant issues that need to be resolved. If a property manager isn’t routinely checking in on your rental, they aren’t doing a good job and shouldn’t be hired.
Red Flag #7: Bad Reviews from Tenants
If the property manager has good client testimonials, that’s a great sign. If they have bad reviews online, that’s a bad sign. If they have no public reviews, ask how their tenants respond to their management style. They may not dive into the honest details if their tenants aren’t happy, but it’s worth investigating. Keep asking for specific property owners or residents that they have a good relationship with to get a feel for how involved they are.
Red Flag #8: No Plan
An experienced Boca Raton property manager who knows what they’re doing will have a process in place. They don’t need to tell you all their secrets to success in the initial conversation, but they should give an overview of how they operate and plan to keep up with your properties. Ask the following questions:
- How will they fill vacancies?
- How do they plan to collect rent?
- Who handles maintenance?
If they don’t have a plan, that’s a red flag – running a property management company requires a lot of organization and attention to detail. Not even having the skeleton of a strategy means that, at the very least, the company isn’t ready to help with your rental.
We know you’re busy and you want a property manager to help, not add additional stress with bad management. If you want to get started with a trusted property manager in Boca Raton, contact us today to start the conversation.
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