keys in your doorMaybe you’re a homeowner trying to get money from your rental property. Or perhaps you’re a commercial investor with multiple apartment communities. Either way, a lack of desire to manage your real estate property will ultimately lead you to a property management company. Here are five things a property management company should do for you. 

Are they smarter than a fifth grader?:  Whether you’re renting out a condo or an office building, your property management company should be an expert in your property niche. A property management company that only has experience managing single family homes may not know how to run your 700+ apartment community. Alternatively a corporate property management company may not have experience managing a manufactured Section 8 home. A successful rental requires a smart property management company that has the experience you need.

Service with a smile:   A good property management company should be friendly and responsive by always returning phone calls, emails, and not treating you like you’re a bothersome mosquito. They should also keep you informed with any policy or contractual changes that may arise.

Happy little trees: Your property is the soil. Tenants are the seeds. Your property management company is the water and sun that helps grow “happy little trees.” Happy little trees are more likely to pay their rent on time and take better care of your property, so find a property management company that has a “green thumb” with their tenants.

Market me much?:   Property management companies should treat your property like a celebrity. And as paparazzi, they should be marketing online, the paper, and even flyers to get your property attention and keep it leased. They should also have knowledge of the leasing market so that your property is competitively priced.

What have you done for me lately?: It’s a given that you want a company that charges less and provides more. Most property management companies charge a monthly fee ranging from 5% to 20%. You at least want a company that maintains your property, screens for tenants, collects rent, advertises, and takes care of maintenance issues. If you aren’t getting those basics, it’s time to upgrade!

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