Wondering how to choose a property manager in St Petersburg, FL?
You’re looking for a property manager in St Pete FL and are not sure where to begin? There are some important questions you’ll want to consider before hiring a property manager. There are as many different types of property managers as there are different types of properties. So to ensure you find the management company that’s right for you, follow these guidelines.
What type of property are you going to have managed? Is it a single family home? Is it a condo rental? Is it a multi-family property containing 2-4 units or is it a multifamily property consisting of more than five units? Is it a commercial property? Is it a special use property or an industrial property? Maybe you are looking for a Community Association Manager… As mentioned above there are many different types of property managers and making sure you choose the right one for your property will make all the difference between a good relationship and one that is filled with stress and uncertainty.
The first question to ask is, does the property manager you are considering specialize in the property you own? It will do you no good to hire a manager for a single family home when the company specializes in commercial management. You might think that if they can manage commercial they can certainly manage a single family house. But the fact is that they are two very different businesses. The lease agreements that are used. The types of advertising they will perform. They type of software that’s in place. The experience of the individual managers, all will make a huge impact on how well your property performs.
Another important question to ask your property manager is what kind of technology and software do they use? In today’s day and age selecting a property manager who is focused on using up to date and modern technology is very important. Not only do you as the owner want to have access to online accounts and financials but tenants today expect to be able to connect with their manager when there is a maintenance issue and also many tenants want to be able to pay rent online. Finding a management company like Investors Choice realty that uses a cloud-based software is a great way to go.
The management team. Lately, we have seen a lot of “property managers” pop up who want to do property management simply because the rental market is hot. In Florida, any licensed broker can technically offer management services. But that doesn’t mean you will benefit from their services. Property management is one of those areas of real estate in which experience is absolutely necessary. Having the best-developed leases are a culmination of experience and knowledge. A great question to ask your St Petersburg property manager is, do they have their own lease? If they do that’s good. It shows they have probably combined the use of a real estate attorney and their own experiences in the property management game to develop a lease that covers as many contingencies as possible. Awareness of the need for these contingencies only comes about from years of experience as a property manager. If your property manager hands you a “boilerplate” lease, run for the hills. Not only will there be some important clauses missing but it’s also an indicator that this manager does not have the experience you need them to have.
Another aspect of the management team is not only the managers but the vendors. These are the people who are called up for maintenance, legal and administrative tasks. A good property manager will have all these team members in place. When maintenance issues come up is not the time to have to find a good vendor and hope they work out well. You need to know that you are getting the best price and the best service from your vendors.
At Investors Choice Realty we have the team, the technology, and the experience to make sure that you are getting the most out of your rental property. We provide service for Single family rentals, multifamily properties, condo rentals, affordable housing and community association management. If you are in need of management for one of these property types give us a call at Investors Choice Realty – We are the top St Petersburg property management firm for residential rentals.