Category: Property Management

How To Contract A Property Management Service

Property Management

orlando_property_managementLet’s say that you have a residential building and you need someone to help you managing it. You might already know what is needed there, but it’s not possible to do it alone. If you contract a property management service from the right company, everything will be easier for you and you’ll see good changes in time.

Let’s get started and see what you need to do to have this.


Get Online

That’s right, this is the first step that you have to take, as the online environment has everything that you need about all kinds of services. Property management is also a service and you will soon find at least a few companies that offer this in your local area. Make sure you pay attention to all the important details when you choose one.


The Website

Start making a list with your choices for interview and follow some criteria. The website should be updated – this is something mandatory, because it proves that they’re still in business and that they have activity. There should be blogs or articles or anything else to show you that they are still available.

 


The Address

Get the contact information but also note down their physical address – this needs to be available for you, and if you can’t find it, then there’s no point in calling them. Checking the address will allow you to see how big they are – where are they located, how many offices do they have, how much personnel and so on. It might seem like a small detail to you, but it’s actually very important.


The Interviewservices - property managment

When you decide to meet face to face with someone from a property management company, make sure you have the right questions prepared. It’s not just a matter of cost – that is also important – but it’s a
matter of what is included in that cost and all those other small details that you should know.

Ask about thei
r experience in this area and how many buildings do they manage – if it’s a big business, they will have a lot indeed, but you can also go with a small business that manages only a few residential buildings or houses. It doesn’t matter the size of the business, but the quality of the services that are offered.

Also ask about portfolio and how satisfied were or are their clients with their services.


The Offer

It’s important to tell them exactly what kind of services you want to have included and see what they are offering. Your building might need constant repairs in some area or it might need to find more than 100 tenants – don’t forget anything that is important.


The Quote

Ask them to give you a quote for the size of your building and for the services you will need. It’s important to get more quotes from different businesses so that you can choose something good for your needs.


The Contract

This is something else that is important – always sign a contract for this kind of service. It’s not something that takes a day or two, but it’s a regular kind of service that can spread forAAEAAQAAAAAAAAM1AAAAJDZjYTc4MzU2LTg1ZmUtNGQ3MC04OGI3LWIyNDYzNzYyOTdjNg more than a few months, especially if you’re satisfied with what they are doing. Start with a contract on 6 months and see
how good they are – if you like what they do, hire them for a longer period of time.


The Clauses

The clauses of the contract need to be clear, as they don’t get anything to interpret. It’s better to ask a lawyer to help you with closing this contract, as it’s quite an investment and you need to be protected against any possible misunderstandings.

The cost should be also written in the contract, along with all the services that are included from the property management company.

  • 1
  • 2

Signup For The FL Property Management Newsletter

Share Us Online

Florida News

Matey Veissi, 2016 president, is 2017 Realtor of the Year; Connie Johnson is Associate Realtor of th [...]

The award honors lawmakers who promoted vital real estate issues, including the estoppel fee cap, bu [...]

The FRM rate is down marginally from last week's 3.9%, though still higher than a year ago when [...]

ATTOM: In South Florida, 13% of homeowners with a mortgage owed at least 25% more than their home [...]

Current proposals would negate tax write-offs for many Americans, and that would make homeownership [...]

Curb appeal may set the tone for a home showing, but first impressions can die after a buyer walks i [...]

Where do you get capital to start a business? Almost 300,000 people tapped their home equity in the [...]

Connecting with Russian buyers via LinkedIn? Not anymore. The social network pulled out because Russ [...]

Answer: Call them millennials. Businesses are trying different tactics to reach this generation, but [...]

It's the highest median quarterly price and a new peak thanks to supply shortages. NAR's c [...]

Housing starts fell 4.8% as builders struggled to find workers, though the lion's share of that [...]

NAR survey: Social media sites are a vital part of real estate today, with 74% of Realtors in a rece [...]

If approved by Fla. voters in 2018, Amendment 2 would make the state's current 10% cap on annua [...]

Congress has work to do in Sept. to keep RE on track. In addition to flood insurance expiring, the U [...]

The Fed will "likely announce next month" the sale of some bonds acquired during the reces [...]

Most commercial owners, investors and developers recognize the importance of better energy efficienc [...]

Counteroffers attempt to secure better deals for clients, but "I demand this" is harsh. Pr [...]

The wire fraud scam – criminals hack an email address and, at the last minute, tell buyers to wire c [...]

With 10,000 boomers retiring each day, builders remain confident. NAHB's 2Q 55+ index not only [...]

Shopped for something online only to see ads for it everywhere? Facebook's tool does the same t [...]

Demand for easy-care but expensive quartz continues to skyrocket, and consumers seem to be less enam [...]

Two institutional investors – businesses that buy multiple single-family homes to rent out – could m [...]

According to the magazine, some people pay too much and others pay too little. In many cases, homebu [...]

"Tiny house regret" is actually a thing. Homeowners who downsize to simplify their lives a [...]

A wellness program not only helps keep agents healthier, it also shows concern for workers and can s [...]

FL Property Management. All Rights Reserved.