There are numerous property management companies in metro Detroit; however, it is very important for a homeowner to pick the right one. Prices and services offered vary from company to company; furthermore, some companies are simply more experienced and competent than others. Following are some tips that will help a person pick the company that is right for him or her personally.
Do Online Research
It is a good idea to do a great deal of online research before picking a property management company. To start with, type in the name of any given company that you are considering, followed by the phrase “customer reviews”. Be sure to not only note the company’s average review rating but also the number of positive reviews that it has received.
The Michigan Better Business Bureau is also a great source of information. Any bona fide company should be listed on this site, even if the company itself does not have BBB accreditation. The BBB website will list how many complaints a company has received as well as how many of these have been resolved. Furthermore, the BBB site will also note if a company has been subject to legal action.
Consider Your Needs
A homeowner or property owner should also consider which services he or she needs the most. If the property needs to be rented out, then a person will want to find a property management service that is adept at finding tenants quickly and with minimum hassle. A property owner who lives in a different city or town should be sure that the property management company is able to manage tasks such as ensuring the property is in good shape when a tenant leaves, evicting tenants that do not pay their rent and/or damage the property and forwarding rental payments on time.
It is a good idea to do a fair bit of comparison shopping when looking for a Detroit property management company. Talk with a number of companies and ask them how much they charge, which services they provide and how many properties the company manages. It is also important to note if the property management contract is binding, as a person who hires an inept company will naturally want to switch over to a new one as soon as possible.
Once you have found what you believe to be a suitable company, ask for a written contract outlining what the company does, how it handles problem situations, etc. Be sure to read the contract very carefully to ensure that it provides the services that you need and want. If you do not understand the terminology used in the contract, ask a company representative. Never sign a document that you do not fully understand or agree with.
Anyone who owns one or more properties but is unable to manage the properties on their own should hire a property management company. However, it is important to take the time to find the right one, as some companies are better than others. Do careful research online, consider each company’s services and areas of expertise and talk with a number of company representatives before choosing a property manager. This ensures that the company chosen is right for the job and will manage the properties effectively, efficiently and in a professional manner.