If you are struggling to handle the day-to-day activities of a rental property, a property management company may be perfect for your needs. If you do a search, you will find many property management companies. Houston has many that can serve your needs. How do you choose the right one? Narrow down your choices by asking questions.
What Services Do You Provide?
Services will often include 24 hours daily maintenance services, rent collections, tenant screening, evictions, vacancy showings, marketing, advertising, monthly reports, and analysis. These will vary by company, so choose the services that are most important to you.
How Do You Market the Property?
Each company has its own marketing strategies. Some use a “For Rent” sign on the property, along with the contact information posted. Some list the property on their own website. Others use other online databases and newspapers. The ideal property management company will use multiple strategies to get the home rented quickly.
How Do You Screen Tenants?
Property management companies Houston will require an application and photo ID. What they do beyond that varies. Ideally, they should verify employment, run a background check, and order a credit report. These reports will determine the person’s ability to pay rent on time. Reference checks will also be performed to ensure the prospective tenant has a reputable background. By renting only to qualified tenants, companies can keep the property better maintained and avoid the hassle of unqualified tenants.
What are Your Fees?
Fees will vary by company and type of rental unit, but most property management companies will take 4-10% of the unit’s gross income. So if the unit generates $1,000 a month, the company could take as much as $100. For smaller properties or single-family homes, the company may opt to charge a flat monthly fee. You may also need to set up a reserve account to pay for unexpected expenses.
