Owning a property comes with a lot of responsibility. You have to manage several things, including the property's physical upkeep, and stay on top of any legal issues that may arise. And if you're renting out the property, you need to ensure that your tenants are happy and taking care of the property. As you can imagine, managing a property can be a full-time job. That's why many people choose to hire a property management company in Orlando, FL.
When hiring a property management company, here are 11 things to keep in mind:
1. What services do they provide? Companies offering property management in Orlando, Florida, typically provide rent collection, property maintenance, and tenant screening services. Make sure you understand what is included in their services before signing a contract.
2. How many properties are they managing at any given time? Ideally, you want a property management company that is not too overloaded with properties to give your property the attention it deserves.
3. Are they licensed and insured? Ensure the company you hire is licensed and insured in case accidents or legal procedures arise.
4. Do they have references? Ask the company offering property management in Orlando, Florida, for references from past clients, and check them out yourself.
5. What is their fee structure? Find out how the company charges and what their fees are. There may be different fees for different services, so ensure you understand everything before signing anything.
6. How long have they been in business? The longer the company has been in business, the more experience they likely have.
7. What kind of training do their employees undergo? You want to ensure the property management company's employees know how to care for your property properly.
8. Are they up-to-date on current laws affecting landlords and tenants? The property management company should be up-to-date on all current laws affecting landlords and tenants so that no legal issues arise for you down the road.
9. Do they have a good reputation? It’s always important to research a property management company before hiring them to ensure they have a good reputation.
10. How easy is it to get in touch with them? You should be able to easily get in touch with your property management company in Orlando, FL if there are any problems or questions you need to be answered.
11. Are they knowledgeable about tenant compliance laws, and how much experience do they have in settling legal matters between tenants and landlords?
Property management companies are boon to owners of rental properties. They shoulder all responsibilities of the owner and ensure the property is well-maintained and continues to earn revenue for the landlord.