Finding The Right Fit Property Manager
Finding the right fit property manager for your property investment can make the difference between success or failure for your investment. You will typically find property managers in all segments of the market so it is important to find the right fit for you and your investment property. Here are some quick tips to help you achieve this;
The outward branding and messaging that a property management company uses is a key factor you can use to determine if they are a good fit for your property. It speaks to who the property management company is and what they stand for as a company. This should resonate with you so you have an easier working relationship going forwards. It will also have an influence on the tenants your property manager may be able to bring in for your property. If the brand speaks to you, then you can proceed and ask further questions to ensure you are a good fit for each other.
Compliance and Documentation
If your property manager is up to speed with their own regulatory compliance then you are in safe hands as they will be up to speed with your property’s compliance too. This is the first thing you ought to ask and get to know about your property manager or firm. Are they licensed and recognised by the right regulatory body? In the Zambian case, this would be the Zambia Institute of Estate Agents (ZIEA). When documentation checks out, then you can comfortably say their operations are legitimate.
References and Recommendations (if any)
Next thing to check for are some references and recommendations for their services either from their current clients if any or from other sources to vouch for the property manager. This may or may not be needed but is a good thing to do if still not too sure if your short-listed property manager is the right fit.
Other key questions that you may want to ask include;
- How is rent collected?
- How are maintenance and repairs handled?
- Is property inspection done?
- How about tenant retention & marketing of vacant units?
- How tenant & owner funds are handled?
- How is tenant vetting done?
- What is included in the management fees?
- The property management agreement. Get your FREE copy of “What You Need to Know About The Property Management Agreement”
These are some key pointers to look out for as you short-list possible property managers for your investment property. Feel free to add to this anything you believe we may have missed.
BCA Properties keeps things fairly simple; we focus on quality service and technology for efficient service delivery and relationship building. We appreciate and understand that owning rental property can be stressful and thus offer tailor-made solutions for each unique client requirement. Get in touch to chat more on our property management service.