Rental property owners often don’t know where to start when searching for the right property management company. Whether you are a first-time rental property owner, a self-managing landlord, or an active real estate investor, it is essential to understand what you are looking for while hiring a property management company.
In Orlando, Florida, you will come across numerous property management companies or property managers that will operate entirely differently.
The right Orlando property management company for you might be the cheapest or maybe the one with the best customer service. Either way, in this topic, we’ll share with you our top 5 ways to find the perfect property management company for you and your Orlando rental property.
1. Property Management Referrals
Word of mouth is an excellent way to find the right property management company for you. Ask your inner circle if they have had experience with any property management companies in Orlando.
Ask Your Realtor – Real estate professionals often work with professional property management companies to assist their clients in finding and screening a quality tenant and managing their rental property. Real estate agents work with property managers and have experience with good property management companies and lousy property management companies.
Ask Your Neighbors – In Orlando, Florida, according to Orlando Weekly, almost two-thirds of homeowners are renting their property. If your neighbor is renting their property, chances are they are working with a local property management company.
Ask Your Co-Workers – While conversing with colleagues at work, bring up the property management topic. Management companies are intertwined in the community, and chances are your co-workers believe who is excellent to work with.
Ask Your Mortgage Broker – Mortgage brokers typically have their preferred property management company they send their homeowners and real estate investors. But, again, industry professionals want to perform well for their clients.
Real Estate Investor? – Ask Local Orlando Real Estate Investors – If you are involved in Orlando real estate investing scene, you may be part of Orlando real estate investing groups or forums. Real estate investors frequently work with a property management company to help manage their rental property assets.
2. Online Reviews
You can tell a lot about how the community views a property management company by its online reputation and reviews. However, Orlando property management reviews may be different from many other industries.
While looking at online reviews for local property management companies, you need to look at who is submitting the review. For example, does the property manager have excellent client reviews? Does a disgruntled tenant post negative reviews?
A good property manager or property management company is a fiduciary to the rental property owner. Meaning, sometimes a quality property management company is put in a situation where they must act on behalf of the property owner, which can sometimes upset a tenant. However, if the management company has solid property owner reviews, then it is safe to say they will treat you and your rental property with care.
3. Property Management Experience
In the property management industry, you must look for a company that has years of experience. In addition, you need to feel comfortable and confident that you know your property managers know what they are doing. As a property management company in Orlando, we have a combined 15+ years in real estate experience.
We have seen several bad business practices, mismanaged rental homes, illegal state and local regulations, unethical property management practices, and the list goes on during this time.
We have taken over managed homes here in Central Florida, where the property owners have not received their rental income for months. Their property manager was collecting the rent and not issuing it to them. The property manager ended up moving states and avoiding all contact with the property owner.
An experienced property management company will: be in business for years, be a part of the National Association of Property Managers: Orlando and have an active Florida Real Estate Broker.
4. Online Search
Once you have checked your inner circle and referral network, you will want to do an online search for property management companies in Orlando, Florida. During your online search, you’ll come across numerous management companies that show who they are, what property managers do, what services they provide, and their pricing for managing your home.
You’ll want to find a rental property management company that displays all their information on their website: You’ll want to look for the following things to determine better if this is a trustworthy and reputable property management company:
- Services Offered
- Who They Are
- Years in Business
If their website is not transparent with who they are and what they do, you may want to cross this property management company off your list and interview others.
5. Property Management Service
As a rental property owner, you’ll want to have a property manager or management company that understands your needs and is service-oriented. Property managers are extremely busy handling all the aspects of properly managing a rental property. However, that is not an excuse to fall short of providing excellent service.
You will want to look for a service-based management company, and the simple way to tell whether the property management company is service-based is by answering the phone. If you are calling property management companies on your search, write down which answer the phone and or call back quickly. The last thing you want is to sign a property management agreement, and once they rent your property, you can’t get a hold of your property management company.
You’ll quickly learn just by a simple phone call which property management companies are professional and which management companies will fall short in the service sector.
Looking For An Orlando Property Management Company?
If you are a new rental property owner or seasoned rental property owner, you’ll need to know what you are looking for in your property management company. Following these five suggestions will better understand what you’ll get with each management company.
As a full-service property management company located in Downtown Orlando, Florida, we understand the importance of a good fit between the rental property owner and their property manager. The goal for all rental property owners is to have a successful and profitable rental property. Follow our guide to finding the RIGHT property management company, and you’ll achieve success.
If you’re interested in learning more about how The Listing Real Estate Management can help your Orlando property management, reach out to us.
Our property management company is notorious for providing the Orlando area with trustworthy and reliable management services.
If you’re interested in learning more about our property management services, Contact Us today.