Once you’ve decided that you want to hire a property manager, you’ll need to select an individual that suits your needs. Depending on the nature and number of the properties you own, this will influence the decisions you make for management. Whatever your circumstances may be, finding the right manager can mean the difference between mediocre management and great property management.
To choose the right individual for the job, you’ll need to know what to look for in a property manager. There are lots of options for property management in Las Vegas, so be sure to know what you’re looking for. To help you out, here are a few tips that will help you choose the right professional for managing your property.
Know Your Responsibilities
First things first, you’ll want to understand your responsibilities as the owner. Even with a property manager, you’ll still have some responsibilities of your own. For example, you are ultimately responsible for the maintenance and repairs of your property.
A manager, however, can arrange things for you as long as you discuss things as they come up. Above all else, it is your responsibility to openly communicate with your property manager.
Know Your Property Manager’s Responsibilities
Knowing what your property manager will be responsible for can help you make a decision as well. Below are a few examples of tasks most property management professionals are responsible for:
* Collecting rent
* Arranging repairs
* Taking calls from tenants
* Sending notices to tenants (nonpayment, violations, and so on)
* Overseeing evictions
Any other responsibilities you determine with your manager can be negotiated contractually.
Narrow Down Costs and Ask the Right Questions
Usually, 5-10% of your income from your properties will go to your property manager. Be sure to choose a rate you can afford, but don’t simply go for the manager with the lowest percentage, because the services they offer may not be right for you. Also, don’t forget to ask as many questions as possible before hiring to make sure the service you hire is right for you. Like us on Facebook.
