|
If you’re investing (or already have) in the rental market of Rochester NY, property management should be at the top of your to-do list. Working with a great property manager is essential if you want your asset to remain a compliant and profitable source of income. However, not all companies are made the same and you’ll want to ensure that you’re only working with the best. This means finding a manager with lots of experience, excellent knowledge of the current regulations, and who you get on with. Here are a few important questions to ask a Rochester NY, property management company before you make any commitment to them, so you can find the right manager for you. What services do you offer? Each company will have their own range of services to offer you so it’s essential that you find out what’s on offer and which will work best for you – make sure you have all of the information before committing to anything. Many landlords opt for “full service”, which means the property manager handles everything from finding a tenant to maintaining the asset. What are your rates? This is another very important question that needs to be addressed upfront. Since Rochester NY property management companies tend to have a few levels of service, there may also be a range of fees. How much you pay for management will affect your bottom line, so it's key that you find a company whose fees align with your budget and income goals. Don’t be shy with this one. What’s your history/experience in Rochester NY property management? Nothing compares to experience, so when selecting the right manager for your needs, be sure to find someone who knows the neighbourhood’s rental market inside out and is backed up by several years of experience (at least!). They should come with a decent portfolio too, so don’t be afraid to ask for details. How do you screen tenants? Finding good tenants is important both for your income and the security and maintenance of your investment property. You will want to find out what kind of checks the manager carries out for screenings; this should include asking for references, running a credit check, and having a good sense of a decent person. How do you handle rent collection? This question should follow the one above, as it’s perhaps the most important one. There should be a policy in place for rent collection and it should be tried and tested. You can ask how well this has worked in the past, so that you know you can expect to have rent paid on time. How often do you do inspections and handle maintenance? Last but not least is finding out how the company will handle inspections and any repairs that are needed. A Rochester NY property management company should have a selection of good contractors on their books, and regularity and an eye for detail are also key. If you ask these questions, you’ll be able to find out quickly and efficiently if you and a potential property management company are a good fit. Author Plate Danny Torres is from Torres Turn Key, a property management company in Rochester NY with more than ten years’ experience dealing with both domestic and international investors. Providing a holistic service for Rochester NY property management of both commercial and residential properties, the company brings together a host of experience and specialist knowledge to build long-term relationships and create maximum value and benefit for their customers.
Related Articles -
Rochester, NY, property, management,
| 
