Owning a rental property is a common investment strategy for a reason. It can provide long-term passive income while also increasing in value over time when it comes time to sell it. The best way to get a big return on your investment property is to have it managed properly which usually require the services of a good property manager. Look for the following qualities when searching for a quality property manager.
License
Realtors in Memphis, TN, all agree that a licensed property manager is the best option because it proves they have taken a variety of courses to make them effective. This includes education on how to work within zoning and code laws for each type of property they may be managing.
Fee
Compare the fees of all the managers you are considering. Don’t necessarily hire the candidate with a suspiciously low fee because it could be a sign that they don’t provide quality service. Look for someone that charges between 8-10% which is the industry standard. Realtors in Memphis, TN, can help direct you to property managers with good rates.
Visit Current Properties
Visit the current properties they are managing to ensure they are in good order. If you can, try to swing by on short notice, so you will see an accurate representation of the type of job they do. If the property has structural issues or is a mess, it isn’t a good sign that they will keep your investment property in good order. For more information on how a good property manager can help the profit margins of your investment property, call website domain for more information.
