There are a few specific things you’ll want to consider when you’re choosing and hiring an Austin property management company.
There is a difference between a professional property manager and someone who just does property management. Make sure you’re talking to a professional. You’ll want to know if they are in any associations or if they have taken any classes or hold designations. These things identify them as professionals. For example, at Austin Landmark Property Services, we are members of the National Association of Residential Property Managers (NARPM). In fact, our CEO and President are founding members of NARPM, and we have been involved for many years. We have earned the Certified Residential Management Company designation from NARPM and our property managers have their own designations, such as Master Property Manager and Residential Professional. These are a few indicators that we are a professional company dedicated to this industry.
Consider any unique services your property manager might provide. For example, we provide a front end cash flow analysis. If you’re working with a Realtor and you haven’t bought a property yet but you’re looking at a few investments and you’re having a hard time picking one – I can provide a cash flow analysis based on mortgage terms, market factors, upfront costs for each property, fix up costs, etc. I will tell you which investment has the potential to provide the most cash flow. I can also help you determine the amount of potential rent and the number of days on the market that will be required to get your property leased. We do this on the front end with no obligation.
Always inquire about the property management company’s business structure. Is it a one person shop, a team, how is it structured? We have a portfolio management structure, so each property manager handles between 100 and 150 properties, and those properties are all their responsibility. You will have that one point of contact and your tenants will have the same point of contact. This structure provides better oversight than I could have managing 300 or 400 properties on my own with a staff of helpers. You’ll have access to your property manager and more intelligent conversations about your property and the projects pertaining to it. Our business structure really amounts to better relationships and customer service to you and your tenant.
These are things to consider when you’re picking a property management company. If you have any questions, please contact us at Austin Landmark Property Services.