As an income property owner, managing your property is an enormous responsibility and time commitment. Fortunately, a property management company will help relieve this burden by tracking payments, handling repairs, finding tenants, and helping you maximize profits. Below are a few tips for choosing the right management team for your property.

How to Choose a Company to Manage Your Properties

1. Ensure Experience & Expertise

To ensure technical expertise, you want a property management company with experience handling your specific type of property. For instance, if you need help managing an apartment complex, you need a company that specializes in residential properties.  If you have a business facility, you want someone with commercial experience. This will ensure your company of choice has a thorough understanding of day-to-day operations, relevant codes, and all applicable laws.

You can also inquire about their qualifications, such as whether they have a broker’s license, what training they receive, and what certifications the company has.

2. Inquire About Their Insurance

In the unlikely event that an incident facilitating an insurance claim happens, you should make sure you’re not liable for the damage. That’s why inquiring about a property management company’s insurance policy is crucial. While each company will be different, ask about general liability insurance, property-casualty insurance, and errors and omissions policies, which protect your property if you’re found legally liable for negligence.

3. Discuss Vacancies

While the hope is that your property will be fully monetized, vacancies are possible. To mitigate the cost of vacant units, discuss how the management company will handle them. You may need to pay a flat rate per empty unit or an amount based on total occupancy. You should also ask about any advertising tactics for vacant units and what you can expect.

If you need an experienced property management company, look no further than All Pro Flathead Property Management. Since 1981, they’ve been providing commercial and residential management services to property owners across Kalispell, MT, and the Flathead Valley region. Whether you have a commercial rental property or storage facilities with vacancies to fill, these licensed professionals will help you maximize your rental property earnings. To talk about your property, call (406) 755-1102. Visit them online for more information about their services.