Hiring someone to manage your property is a huge decision, so before hiring anyone, it’s important to do as much research as possible. Choosing a property manager can break or make your property investment. Property management companies have flooded the Portland, Oregon market in recent years, but it’s becoming more and more difficult to determine who is the best choice when most of them make the same claims and provide the same property management services.
InterWest Properties, Inc. is a trustworthy responsible property management firm that will not only collect rent on your behalf but also handle daily maintenance, while catering to your tenant’s needs. Here are some strategies to help you find the best fit for your property:
Get Referrals to Find the Best Property Manager in Portland
An ideal way of finding a reputable project manager is by referral. Do you have friends or family with investments in Oregon? By talking to real estate agents or property owners, you can find suitable options. Compile a list of their current and former property management companies, and it’s important to inquire about their experiences with these enterprises. Note that a referral can be biased, that’s why it’s advisable to collect referrals from different sources.
Research about the Property Manager and their Current Work
Before hiring a property manager, we advise doing thorough research on them. Some websites allow you to key in the size of your property, location and they create a record of property management companies in your area. Learn more about the company by checking their reviews online. Check out their current property management services such as the quality of advertising, medium of advertising, the time they take to replace a tenant, etc. Visit the properties they currently manage and collect information by talking to those who have leased from them in the past. A key role of property management companies is keeping tenants happy and comfortable.
Interview More Than One Property Manager
It’s odd for a property management company to tell you to check out their competition, but we are confident that our services at InterWest Properties, Inc. go above and beyond that of our competition. We’ve been proving it for over 30 years. That said, we always encourage property owners to interview several property managers and compare them to find the best fit. Interviewing several candidates helps you identify proven companies with experience from those who offer poor service execution. A good property manager strives to maximize your income and find tenants that will respect your property. It’s, therefore, crucial to choose wisely the company who will represent you and your property.
Verify Your PM’s License and Registration
Oregon requires that to show vacant houses, property managers should have a property management license or a real estate broker’s license. It’s important to verify their license and any trade organization certificates.
Review the Property Management Agreement
The agreement should clearly interpret the responsibilities of the property manager and those of the owner. This document is important because it states the exact terms of your relationship and what both parties have to offer. Pay attention to sections on services provided, extra fees charged, responsibilities of the owner and reasons for cancellation. Before signing the contract, take your time reading through it and understand all the terms and conditions.
Many landlords choose property managers based on the company that offers the cheapest structure. However, keep in mind that cheaper fees may lead to poor service level and this may affect you in the future.
At InterWest Properties, Inc., we’d love to speak with you about your property and your investment goals in the city. Our goal is to provide quality care for your property portfolio, while increasing its profitability. We look forward to jumping on a call with you.