Guide to own a home - giving advice and information on property management.
If you are a real estate investor, why do you need a West Hill Property Manager?
A real estate investor should be spending their time building wealth by acquiring income producing rental properties and not spending time dealing with rental property related issues such as; marketing the property, finding the right tenants, collecting rents, emergencies, maintaining property appearance, dealing with contractors, etc… This is where a competent West Hill Property Manager is needed.
Although a competent property manager can relieve you of all the burdensome issues and chores that are part of rental property ownership, not every property manager is the right one for every landlord. Just like an investor will look for the right income producing rental property, an investor needs to look for the right property manager. The best way to find a property manager is to ask real estate agents whom the recommend and interview several property managers before you make a decision.
Technical and personal skills can vary from manager to manager. For example, some managers are skilled and experienced in rental property management, others have the expertise to properly and effectively manage commercial properties. So if you are purchasing residential rental properties, make sure the property manager you select specializes in residential property management and not commercial property management.
When choosing a property manager, landlords should be aware that the level of a manager’s expertise coincides with the level of training and experience the manager has. Ask the property manager about specialized training and courses they have taken over the last 6 months.
However, a property manager’s skills are – though vitally important – not the only factors to consider when choosing a manager. The landlord/property owner must also take into consideration the fact that the landlord’s expectations and goals, and the property manager’s management “style” and priorities are in sync.
Certainly, the landlord must be assured that the manager who is chosen will work within the framework of the landlord’s expectations. But it would be to the landlord’s benefit to also hire a manager who would freely offer advice and suggestions that would be beneficial in enhancing property revenues and overall value.
The contractual agreement between the property owner and the property manager will detail the duties, responsibilities and obligations of both parties, but it is really the personal rapport and like-minded ideas between the landlord and manager that are the real foundation of a good working relationship.