Owning a rental property has quite a number of perks, from getting a generous passive income to enjoying tax breaks and mortgage deductions. But for all the benefits rentals provide, they also require you to be personally on top of both minor and major issues that could affect your financial bottom line and your peace of mind.In this case, you’ll needsomeone to act as your able right-hand man in managing your rental property – a property manager. They can be a big help to you, especially if you have more than one rental.
How to find the property manager you can trust? Here are several tips.
Get referrals
An easy first step would be to ask people you know and trust for any property manager referrals. You can check with your direct network: family, friends, colleagues, and Realtors from within the Ogden community.Ask them what made them want to refer this particular person or group to you.
Look for experience
It is best to finda property managerwith a proven track record in dealing with rentals. Their years of experience in the industry can be a reliable indicator. You’llalso want to hire an individual who is up-to-date with federal and state laws and knows how these can affect your rental business.
Do some online searching
The Internet is a powerful tool for research, and this can also be used in your search for reliable property managers in your area. You can visit AllPropertyManagement.com, a website that helps you look for active property management companies in your location. Many of these professionalsalso have their own websites or Facebook pages, so it will be easy to check out their credentials. You may also find reviews on Yelpand Better Business Bureau.
Validate licenses and certifications
Qualified property managers should be able to backup their technical know-how with the right licenses and professional certifications, as required bymost states. In Utah, you can verify if your candidate’s credentials are up to date by looking their name up in the Real Estate Division’s online system for real estate and appraisal licenses.
A property manager affiliated with the following organizations is also a plus:
- The National Association of Residential Property Managers (NARPM)
- Community Associations Institute (CAI)
- Institute of Real Estate Management (IREM)
- National Apartment Association (NAA)
The above-mentioned groups give memberscertification after completing a rigorous training program. This proves that the manager is highly committed to honing their skills in their chosen profession.
Check out their properties
On-site visits are the best manifestations of a truly adept property manager. If the property they are managing is unkempt or there are glaring, unaddressed repairs, consider these as red flags.
You can also find out if the person you’re looking to hire is quick to address any complaints and resolve problems by talking to the tenants and asking for their feedback.
Interview candidates
Don’t forget to interview several candidates before settling on one. You’d want to pick someone who best fits your property’s needs. Ask questions about their education, fee structure, experience, and services.
You’ll also want to ask for the location and other details of the properties they are currently managing and how much time they can dedicate to yours.
If you are searching forcondos for sale in Ogden, Utah that you can convert into rentals,get professional help fromour experienced team of real estate agents in Destination Properties. We are a boutique brokerage with over 25 years of proven experience. Speak with our team today at 801.745.2009 or send an email to info(at)destinationpropertiesutah(dotted)com.