It can be difficult at times for landlords to create a balanced budget for how much to spend on your rental property while planning for the future. You want to make sure you make money—but you also want to develop a reputation as a well-managed property. Over time, this will mean commanding higher rents—but how can you do that alone?
When crafting the budget for your property, do you include a portion for property management? Maybe you're unaware as a landlord of just how much property management can do to grow your investment—rather than detract from it. Perhaps you're uncertain of what to even look for in a potential property management partner! When you work with an excellent San Antonio property management company, you can achieve all of the following and get good service for your money—the first time. Here are five key traits to look for in your potential property manager!
1. Consider Property to Staff Ratio
When you learn about the number of doors a particular San Antonio property management company has under management, start noticing how much staff they have to handle these properties. Yes, some companies work with a wide range of contractors. However, you will find that your property gets more time and attention if the property to staff ratio is nice and low. It's just common sense: how can a property management company with two staff members serve a hundred properties as well as one with 10? This ratio isn't the only factor that matters, of course. Sometimes a few highly experienced staff are better than having more greenhorns. However, the numbers are essential, and they point to the investment the company is making in your property.
2. Notice Patience and Good Listening Skills
When you visit a property management firm, the way they speak to you and do (or don't!) spend time with you as a landlord is indicative. If they can't talk patiently with excellent listening skills to a potential client, how do you think they will correspond with your tenants? Take your time explaining your needs and conditions so that you find a property management company that is a good fit. If they seem too "one size fits all" in their approach, you may not receive the detail-oriented care you want. This warning sign is especially important for your properties that have distinct needs. Be your advocate and pay attention to red flags like impatience to end a meeting or unwillingness to take notes and remember what you've said.
3. Legitimate Operations
Do your best to verify the legitimacy of a particular San Antonio property management company. Some companies hope to get the work without doing the necessary steps to be fully licensed, insured, and registered with local and state government. You don't want to end up with significant liability because your property management firm cut corners and was less than legitimate in their dealings with the government or with your tenants.
4. Documents Their Policies and Procedures
One particularly good sign for a property management company is if they can tell you how they handle every step of the tenant process because they have it well documented. Loose policies and procedures make it easy to cut corners and lose integrity at various stages of the process. If there are documented policies and procedures, you can rest assured that the tenants will be treated appropriately and similarly across a variety of properties. Companies that hold themselves accountable by documenting what matters to them as a property management company are likely to have more consistent service overall.
5. Prices Properties to Avoid Vacancy
Don't be fooled by property management companies that promise outlandishly high rental income! It is far better for a property management company to do a thorough market analysis, price the home competitively, and get you a tenant quickly. Even higher rent cannot make up for the $0 payments of vacant units. Focus instead on what will keep your empty days and weeks to an absolute minimum so that you have time to build long-term relationships with tenants. High rents result in higher turnover, and that is not good for your investment—or your bottom line.
The Real Property Management Campanas Advantage
When you choose to work with Real Property Management Campanas, you get all of the above items in one company. We focus on keeping our property to staff ratio low so that we can offer excellent service at every single property we manage. We customize our approach for each landlord and speak with you extensively to ensure you are getting what you are looking for.
We are a legitimate property management firm with all of the necessary legal components. We document our policies and procedures at every step of the way to ensure uniformly great service. We also price your property competitively to maximize total profits and minimize vacancy. If you are interested in getting to know us better as a San Antonio property management company, get in touch with us today! Let us show you how we can put over twenty years of property management experience to work for your investment.