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COMPARING PROPERTY MANAGEMENT COMPANIES

A property management company is a company that manages buildings and complexes. They are responsible for any problems and concerns that occur as well as renting, buying, selling and other real estate transactions. If you are looking into a property management company to help you with renting, buying or selling, then you need to feel confident and comfortable with your choice.

Property management is a complex business. Property managers must be experienced in the industry, possess excellent customer service skills and be able to multi task and handle pressure from all angles. After all, most property managers are handling several buildings all at the same time. Comparing property management companies is one of the easiest ways to find exactly what you need when it comes to managing your property.

Choosing a Property Management Company

The first thing you want to do when planning a move, besides locating moving boxes, is to begin comparing property management companies is the licensing and credentials of the company. Almost all states require companies to be licensed real estate brokers. Real estate brokers must be professionally trained in the industry which means property managers must be as well. You can check with an online database in your state to see if your potential property manager is, indeed, licensed and able to practice. You may be surprised how many property managers are not.

Another thing to look into is how many properties the company is in control of. In some instances you may want to work with a larger company as this means more protection. You may even be able to switch apartments down the road to another building that is managed by the same company. However, if you are looking for a more personal feel, then you may want to stick to a smaller property management company that can offer you an individualized service and attention.

Property management companies really show their true colors if something goes wrong. It is their duty to handle any problems, including neighborly complaints, broken or damaged appliances, problems with payments and building maintenance. One of the ways to determine whether your property management company will stack up is to look for reviews online and see what others have to say about the management. If there has been a serious legal problem then you may be able to find it through archived websites and newspapers. If not, then speak to some of the renters in the building to see what they think about the service.

Property Management or Landlord?

If you are renting out your home or looking for a rental, you do not have to go through a property management company. You can also choose to work with a landlord directly in several instances. Landlords manage their own property (normally houses) and, if this is the case, you will work directly with the landlord rather than with a property management company. There are pros and cons to working with both.

In some instances a landlord may need to hire a property management company if they live far away from the rental property. This is for the protection of both the property owner as well as the renter. If something does happen, it is important that there is someone there to fix the problem and offer compensation if needed.

When comparing property management companies, it is critical that you feel comfortable with your choice. Whether you are renting, buying or selling, you want your home to be in the best care possible. Taking the time to do your own research, meeting with a few companies and seeing what others say about the service will all help you make an informed decision.

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