Many rental property owners seek assistance from a professional property management company to relieve the stress of managing their rental by themselves and to help them earn a higher return on their investment (ROI). However, the very first step, that is choosing which Phoenix property management company to hire, is a big decision. It is essential to work with a trusted and experienced manager to ensure that your investment provides high returns, is well-maintained, and stays occupied.
Here are a few factors you should look for in your potential property management company in Phoenix.
Experience Of the Property Management Company
The Phoenix rental market is highly competitive, and you will find a number of companies claiming to be masters of their trade. However, you can get an accurate idea of their competence by checking the experience of the organization. The number of years they have served in the industry is indicative of their experience and knowledge of the market trends, local laws, and the unique rental requirements in the city.
It also suggests the expertise of the company. For instance, some firms may have managed only single-family homes for years, some may be experts in commercial management, while others may have years of experience handling multi-unit properties. Either way, choose a company that is expert in handling the type of unit you own and has multiple years of experience under their belt.
Qualifications of the Property Manager
Another crucial element to keep in mind while choosing a property management company is their qualification. In Arizona, managers must have an Arizona real estate license for managing residential or commercial properties for investors. So, ensure that you choose a firm that has licensed and qualified professionals for handling your rental unit. You can also inquire about additional certifications they may possess.
Professionalism of the Phoenix Property Management Company
To ensure maximum efficiency and complete each task to perfection, your prospective property management company must have a set protocol and streamlined processes. Additionally, they should also have a shorter response time, use automated systems, and follow exhaustive documentation processes. Such professionalism can ensure that your properties are well-maintained and looked after.
A Local Base
Choosing a local property management company means they can keep a closer eye on your unit and respond faster to tenant maintenance requests. Local firms in Phoenix, Arizona, typically have a better understanding of the neighborhoods, local rental market, tenant demands, as well as local rules and regulations. With this data on hand, they can ensure that your place stays safe and rent-ready at all times.
Tenant Screening Procedures of the Company
To ensure that your rental is occupied by a responsible tenant, you need to choose a company with a solid screening process in place. Their comprehensive background checks must include assessment of income reports, credit scores, landlord references, and employment history. With these streamlined processes, it becomes easier for you to find a good tenant, who can pay rent on time and use the place responsibly.
Effective Communication and Responsiveness
Property managers must be constantly accessible and responsive to you and your tenants. Choose a company that responds to maintenance requests within 24 hours and does not make your tenants wait. In addition, the property management company should be providing you with detailed reports about all repairs and maintenance issues, property-related income and expenditure, and your net profit or loss on investment. Pick a company that keeps you in the loop proactively, without you having to follow up on every small thing.
Your rental management company must always make you feel like a priority. We, at Keyrenter Premier Property Management, are a Phoenix-based company that simplifies the process of rental management. We take care of all maintenance and tenant-related concerns to ensure that your house is habitable and rent-friendly. Our strong accounting team keeps track of every penny and provides you with detailed reports that give you in-depth insights into the financial health of your investment rental.
If you are looking for a trusted and experienced property management company in Phoenix to manage your rental, look no further than Keyrenter Premier Property Management.