How to Find the Right Property Manager For Your Rental
If you’re thinking of renting out your home, you may be considering different local property management companies. Finding the right property manager for your rental isn’t always as easy as it may seem. Some property managers look great online but may not know your local rental market or offer full-service support. Here are some considerations to factor in when deciding which property manager is right for your situation and your rental home.
Understanding Your Expectations and Needs
Before talking to different property managers, assess your specific property’s needs and your own. Are you going to be living near the home and have some availability? Or, will you be living far from the property? Either way, you do want a property manager who will respond promptly. But will they be able to respond to urgent issues quickly? Can they perform routine checks and preventative maintenance services? What are you expecting of them in terms of availability and communication? Some people think about being a long-distance landlord and then realize they don’t want the added stress that can come with that, so they hire a property manager. But it’s important to be explicit about what you want them to handle and how often you want to be in communication with them.
When it comes to the financial aspect, the idea of an investment property is exciting, but it’s important to properly price the home. That’s why you want someone who knows the local rental market. Also, setting realistic financial expectations is key. There are many factors to consider when pricing your home for rent. Additionally, your property manager should know about Washington’s specific laws regarding how security deposits are assessed, held, and returned to tenants. Some property managers in Kitsap County offer an online portal for tenants and owners while others don’t. These details should all factor into your decision-making process.
Researching Residential Property Managers Near You
Working with a local residential property manager is incredibly beneficial. If your property manager lives and works in the area they serve, they are more likely to know about local ordinances and be familiar with different HOAs. They should also have a strong network of local vendors so that your rental home is serviced quickly and efficiently. Whether it’s needed repairs or routine preventative maintenance, you want it handled expertly.
When researching property managers, be sure to analyze online reviews. Notice how the property manager or property management company responds to those reviews. You can see if they are personalized or not, and whether any negative reviews seem warranted or not. For example, sometimes a tenant may write a negative review because they didn’t get their deposit back after there was damage found during the move-out inspection. This is standard practice in a rental contract. That unhappy former tenant may then write a bad review, which they are certainly free to do. However, the owners of that home may write a positive review regarding the same property because the property manager handled the situation in accordance with the legally binding agreement, promptly notified the owners, and took care of the repairs.
When looking at reviews, you also want to see if any specific details are mentioned like how long the owners have been working with that property manager, how available and responsive they are, their attention to detail, and if the owners feel fully supported.
Evaluating Kitsap County Property Management Options
Comparing services offered by different Kitsap County property management companies may seem a bit daunting. Here are some questions to ask:
- Do they specialize in residential properties?
- Are they familiar with Kitsap County’s rental market?
- Do they offer skilled marketing?
- Is there an in-depth tenant screening process?
- How long, on average, are their rentals vacant?
- How do they price rental homes and do they use accurate, local data?
- Is accounting, maintenance, and disbursement handled for owners?
- Is there a secure online portal for renters and owners with work order requests and an online payment option?
- What are their costs and fees? Does that seem adequate in relation to the services they provide?
Meeting and Deciding
When you’re ready, arrange meetings with potential property managers to discuss your expectations and needs. While not exactly subtle, we would like to mention that Windermere Property Management/West Sound offers a wonderful local team of property managers that live here in Kitsap County. We use current rental market data to properly price homes, expertly market them online to fill vacancies faster, and perform in-depth tenant screening. Our rental screening software includes a standard background check, credit checks, and past rent payment history. Screens can be completed in minutes so that we can quickly place the highest quality tenants. Additionally, we offer a secure online portal for owners and tenants, as mentioned above. You can check out our recent stats, and feel free to contact us with any questions.
Regardless of who you choose as your property manager, we hope that this provided some helpful information so you can make well informed decisions.
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