Picking the right property management company in Frisco can feel stressful. After all, trusting a company to manage your investment property is a big deal—and the management company you choose can be the difference between profit and despair.
Choosing the right property management company in Frisco should involve as much care and research as selecting your insurance provider! Each of them impacts the security and prosperity of your Frisco investment properties.
When you consider all the hats your property manager will wear on behalf of your investment portfolio, you definitely can't afford to find the right property management company in Frisco through trial and error. You need to know you've made a sound investment in your people power from the start.
With that in mind, RentHub Property Management put together five expert tips on what to look for when hiring a property management company in Frisco.
1. Get Local Referrals
Other Frisco real estate investors can be a great source of referrals when it comes to seeking property management. They'll be able to tell you about their experiences with local property managers and who did right by their Frisco investment properties.
Don't know any Frisco real estate investors? It still wouldn't hurt to talk to contacts in McKinney, Allen, or Plano—especially if you plan to continue expanding your investment portfolio.
- Ask for references or look at reviews to see what other people think of the company; weigh this as part of your decision.
- If there are a lot of horror stories out there, you might want to steer clear, just as you would when choosing services from any other company.
2. Ask About Experience
The length of time spent "in the field" matters: you'll want to know your property management company knows what they are doing when you hand over something as valuable as your investment portfolio! Given that you're trying to grow, experience managing large portfolios is also a plus.
- Ask how long the staff has been in property management: companies come and go—but the experience is invaluable.
- Investigate whether they can scale with the size of the portfolios they're managing.
- Look for staff that knows the area and what tenants in Frisco are seeking in a rental. These are things that will help them lease your property faster—and present it in the right light.
3. Be on the Same Page
If you're a landlord that wants to be contacted for every issue, then you should work with a property management company that provides that level of care and communication. If you prefer a "set it and forget it" approach, let the professionals handle your Frisco investment properties!
To choose a property manager that ultimately fits your unique approach to investing, Frisco real estate investors should be upfront with any potential property management candidates that they're interested in. Often, the responses that a prospective manager will give you with respect to your needs will reveal a lot about the actual level of service they can provide.
4. Check Vacancy Rates and Time to Lease
A good property manager should know, on average, how long it takes for them to list and lease a property. This number is usually a good representation of the property management company's marketing efforts for your property—and a way to assess how effective those efforts are.
There are other essential questions to ask about the listing process. Quiz your property management candidates on how they manage their listings.
This is your property's first impression, and it matters. Property managers with the success of your investments in mind will acquire high-quality photos that highlight the benefits of your rental property—and won't include any details that detract.
We've mentioned the importance of powerful listing photos and how the perfect listing can attract the right tenants for your property. When you bring in a property manager, they should be able to check off all of the above if they approach the marketing for your rental properties aggressively—and with your bottom line in mind.
5. Investigate: Can They Get Your Properties Rent Ready?
RentHub Property Management can help you get tangible results for your real estate investments: our professionals know the area, and we understand how to provide a level of service and communication that's tailored to the unique needs of each of the investors we work with. We know your investments are the foundation for your long-term wealth—and we take that responsibility seriously.
Even if you're not ready to work with a property manager, RentHub offers investors access to our incredible resources—for free! After all the marketing, your property still needs to be ready for your next tenant—as soon as they step foot in the door.
Whether you have one property or ten, you need a make ready process that can scale to your investments and produce consistent results—every time. Download our FREE Make Ready Checklist, and prep your properties like the pros!
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