How To Find & Hire A Professional Property Manager For Your Investment Property.
Need a property manager, but unsure on what to ask? Don’t worry, Nexus is here to help! Hiring a property manager is a very important responsibility. It’s just like finding a babysitter; but for your investments! Nowadays, the availability of information/reviews is very prevalent, so make sure you first check out the web to find the best or worst rated companies. Our suggestion is that you choose your top 3 companies, and from there you want to ask these 3 questions;
What Are Your hours?
There are 168 hours in a week. If your property manager is only open for 40 of them, what will happen if something occurs during the other 128? That means your property and tenants will be at risk and unattended to! Having a company that is available 24/7 should be a mandatory requirement of yours. With efficiency through technology, a company should have no excuse as to why their doors close, and phones shut off. Unacceptable! If you find one of these companies it is best you keep looking!
Is Your Labor Force Employees or Sub-Contractors?
This may seem irrelevant to you as you are just concerned about getting work done, but it is crucial for protecting your investment and your wallet! When a company sub-contracts its maintenance and/or leasing functions, the quality will usually go down, and the price goes up! Just look at the optics; you have a company (third party) who hires another company (third party) to perform work on your house. The sub-contractor will likely not have a vested interest in quality/efficiency because they don’t know you, and won’t be fielding that 2am call when something breaks! They just want their money, and then they will move onto the next job! When a company uses their employees, you then have accountability in place, and also direct recourse/reassurance should any issues arise.
What Guaranties Do You Place on Your Tenants?
When placing a tenant in your unit, you want to ensure that you are getting some type of guaranties should that tenancy fail. For example, Nexus offers (2) warranties on the tenants we place. The 1st is lifetime eviction protection. Meaning, should a tenant we place get evicted at anytime (for any reason) we place the next tenant for FREE! The 2nd, is our 90 tenancy guarantee. This means if a tenant we place moves in and out within 90 days (for any reason), we also place the next tenant for FREE! Our tenant placement guarantees put us in the same corner as our owners, and protect them against the short and long term! You will likely be paying a full month’s rent for the leasing fee from your property manager or rental agent, so you want to ensure you are getting some reassurance as well!
Property owners from all over the globe have chosen Nexus to manage their investments due to the efficiency, systems, and accountability we offer! We are now a national franchise opportunity with territories available in many states.
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