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Invest Pro Properties Inc.

4 Tips for Finding a Property Management Company Near You

Whether you have owned your rental property for a while now or have just become a first-time landlord, it’s time to consider hiring a property management company near you.

tampa landlord looking for property manager near me

Where do you even start looking, though? Do you even need one?

Taking care of your own rental property can be quite a burden and take up a lot of your time. Finding a property management company near you can take a massive weight off your shoulders and allow you to truly enjoy the glory of passive income.

After reading this article, you will know exactly where to find a property management company near you and the benefits of hiring one.

 

Who Should Hire a Property Management Company?

Not all landlords hire a property management company for their rental properties. The smart ones do, though!

Real estate investors are the first group of landlords who will hire a property management company. These investors haven’t bought property to take on the job of maintaining it and interacting with tenants. They purchased property to make money.

The second group of landlords that hire a property management company is “accidental” landlords. This includes people who may have inherited property and don’t want to sell it right away. So, they decide to make some income and rent it out.

Accidental landlords are also people who have to relocate but are having trouble selling their home due to a bad market. Instead of letting the house sit and do nothing, they rent it out until the market picks back up.

No matter what category of landlord you fall under, hiring a property management company near you will make owning a rental property much easier and convenient.

 

How to Find a Property Management Company Near You

There are a few different ways to find a property management company near you – the most important thing to remember when searching is to find a reputable one that you can trust.

Landlord Searching for a Property Manager Near Me

Ask Around

Sometimes word of mouth is the best way to get a recommendation for a service. When it comes to finding a property management company near you, ask your network.

You can start by asking your friends and family if they know of any property management companies or know anyone who works for one. Having a mutual friend can be a great benefit if you choose to work with the company.

Next, ask other real estate investors if they could recommend a property management company. Even if you know investors who choose to self-manage their properties, they will probably know of one or two companies.

The best recommendation is from an investor who already uses a property management company, though. This gives you the chance to hear an honest review and experience working with the company.

Lastly, if you worked with a real estate agent to purchase your investment property, you can ask him for a recommendation. Real estate professionals are very well connected and have an extensive network they can recommend to you.

 

Search Online

What would we do without the Internet? A quick “property management company near me” search online can give you hundreds of different companies in your area.

While this method will give you the most results, they won’t always be the best results. Before choosing a property management company you find online, make sure to do your research.

Read the company’s reviews online, dig through their website, and schedule an appointment to interview them. Remember, you are looking for the best property management company for your needs.

A disadvantage of only looking online is that you may not see all of your area’s property management companies. This could be due to the company lacking a website or simply not having enough domain authority to appear in search results. This doesn’t mean they aren’t reputable, though!

 

Take a Walk

… Or a drive!

Browse the neighborhood where your rental property is located and look for signs of property management companies. Usually, they will be posted outside of rental properties to advertise their services.

It’s a good idea to hire a company that already works with properties in your specific area. They will have more knowledge and experience with the local market than one who doesn’t manage property in your neighborhood.

Write down a list or take pictures of the signs so you can research the companies more thoroughly once you get home.

 

Why Hire a Property Management Company?

Now that you know where to look for a property management company near you, it’s time to know why you should hire one.

You probably worked with a real estate agent to buy your investment property. Why? Because they’re a trained professional.

Just because you own the property doesn’t mean you are now a professional landlord. There is a lot of maintenance and legal knowledge required to be a landlord. So, just like hiring a realtor to buy the property, you should hire a property management company to manage it.

From 2019 -2020, there was a 31% increase in landlords who hired a property management company due to their lack of experience and expertise.

You may know a thing or two about real estate but have run into a few bad tenants. They can cause major headaches and issues and make you want to give up your property at times. With a property management company, you’ll never have to deal with this again.

A property management company takes the stress out of owning and maintaining a rental property.

 

They Save You Time

As a real estate investor, you probably have other projects and jobs you want to focus on. Let’s face it; being a landlord is not your full-time job. Rather than wasting your time finding tenants and scheduling repairs, a property management company will do all of that for you.

You’ll have more time to focus on other things like friends, family, and other investments you’ve had your eye on.

 

They Fill Your Vacancies Quicker

As an independent landlord, you lack the professional resources to market your rental property and fill your vacancies. You spend a lot of time writing property descriptions, marketing, and showing your property.

A property management company has an entire team to do all of that for you. Actually, 76.9% of property management companies offer this service. You just have to sit back and let them do the work.

You can even rest assured that they will always lease your property to the right tenant. Thanks to thorough tenant screening and the leasing process, property management companies won’t fill your property with a bad tenant.

 

They Can Save You Money

Even though you have to hire a property management company, they could end up saving you money in the long run. You won’t waste money on advertising your property or hiring a realtor. You won’t overspend on maintenance repairs.

Each property management company is different with their fee structures. Be careful of hidden fees, and make sure you clearly understand what they charge.

Before hiring a property management company near you, discuss their pricing to see if it makes sense for your investment.

 

They Give You Peace of Mind

When you hire a property management company, you will have peace of mind knowing your property is in good hands. You’ve done your research and are confident you’ve chosen the right company.

Your property is now in the hands of trained professionals. They can deal with any and all situations that may arise. You just have to sit back, relax, and enjoy your passive income.

 

Need Your Property Leased or Managed?

Are you looking for a property management company in the Tampa area? InvestPro Properties Inc. is your answer!

With over 25 years of experience, we are the fastest growing and highest rated property management company in Tampa. We offer straightforward pricing, numerous resources to our landlords and tenants and create a personalized experience for you.

Contact us today to find out what we can do for you.