As a property owner, you may be considering hiring a property management company to take care of your investment. But what can you expect from such a company? Here are some key things to look for:
- Services Offered:
One of the first things to consider when hiring a property management company is the range of services they offer. Some companies may only offer basic services such as advertising and screening tenants, while others may offer a full suite of services that includes maintaining the property, handling repairs and renovations, and dealing with tenant issues. Be sure to find a company that offers the services you need.
- Experience:
When it comes to Property Management Service In Chicago, experience counts. Look for a company that has been in business for several years and has a good track record. Ask for references from past clients and check out online reviews to get a sense of what others have to say about the company. In addition, make sure the property management team is experienced in managing the type of property you own. For example, if you own a condo building, you’ll want to make sure the company has experience in condo management.
- Fees:
Fees vary from one property management company to another, so it’s important to shop around and compare. Be sure to get a detailed breakdown of all the fees involved so there are no surprises down the road. It’s also important to find a company that recognizes the unique needs of owned rental properties, including annual tax statements and real estate tax assessments.
- Communication:
Communication is key in any business relationship, and it’s especially important when it comes to property management. You should expect prompt, professional communication from your property management company. Be sure to ask about their communication policies and procedures to be sure they meet your needs.
- Reporting:
As a property owner, you’ll want to stay informed about what’s going on with your investment. Look for a property management company that provides detailed reports on a regular basis. These reports should include information on occupancy rates, rental income, expenses, and any repairs or maintenance that has been done.
Conclusion:
These are just a few of the things to look for when hiring a property management company. By doing your research and carefully selecting the right company, you can ensure that your property is in good hands and that you’re getting the level of service you need.