On average, renters in the US pay $1,326 a month.
Owning a rental property is a great way to generate income, but it can often involve a lot more work than people expect. Working with a property management company is an effective way to ensure you're getting a good income from your property while making things significantly easier. But with so many of these companies around, how do you know which one to go with?
In this guide, we'll go over 3 key tips to help you choose the right property management company in Portland. Keep reading for more.
1. Go Local
You should only really consider local property management companies to work with. They'll have a good understanding of your area, which will help with everything they offer.
A local company will be up to date on the laws in your area - federal, state, and municipal. This will prevent you from running into legal issues.
They'll also have better connections with local contractors. If you need any work done on your property, they'll know the best licensed professionals, and will usually be able to get you a better price for any maintenance or repair work.
2. Look at Their Track Record
It's always best to go with an experienced property manager. If they've been working in the industry for years, you can be more confident that they know what they're doing in all aspects of the job.
One of the best ways to do this is to look at their referrals. You can see what other people who've worked with them think of their services.
If a company has a lot of negative reviews, consider this a red flag and steer clear. One with positive reviews is more likely to be one that you can trust.
Some property managers (like Kerr Properties) have plenty of positive reviews. You can check some of them out on our testimonials page. Google is also another great place to find reviews for businesses.
3. Aim for a Full Range of Services
The money you spend on property management services will come out of the rent from your tenants, so you want to ensure it's well worth it. There are a lot of different services that a comprehensive property management company should offer. This includes things like:
- Tenant screening
- Rent collection
- Lease negotiations
- Property inspection
- Legal documentation
- Accounting and reporting
- Rental marketing
You want to hire a company that covers as much as possible. This will ensure you can relax and let them take care of all the hard work.
The Right Property Management Company for You
A property management company can be incredibly helpful if you own a rental property. You want to make sure you go with a local company that has plenty of experience and offers a wide range of services.
Kerr Properties is a Portland property management company that has been in business since 1981. We offer a full range of services to ensure you don't have to worry about anything. Visit our management services page today to see more about what we offer and get your free rental analysis.