At Real Property Management Phoenix Valley, we strive to help property owners avoid the headaches that come with rentals. Running a rental property is not an easy job with all the details that come into play like rent collection, inspection, maintenance, and the resolution of any issues that arise. Professionalism and communication are key in any good relationship between a property owner and a property manager.
The last thing you want is to waste your time and money on a bad partnership. That’s why it’s critical to thoroughly interview a property management company before making the decision to hire them. You’ll save loads of stress in the long run by spending a little extra time at the beginning of the process. To help show you what to look out for, we gathered the top five red flags to watch out for when hiring a property manager in Phoenix.
Property Manager Red Flag #1: Disorganization
You’re hiring a property manager to help you stay organized. If they run late to meetings, seem inexperienced, don’t remember details, or are just generally bad at communicating, the property manager likely does not have their act together. A few questions to consider asking include:
- Do they have a successful formula for managing properties that has worked before?
- Can they show you a portfolio of their work?
- Are they responsive and eager to answer your questions?
- Do they have a website, payment schedule, onboarding process, etc. or are they still figuring it out?
A good property manager in Phoenix should have proof of past performance along with a good system already set in place. If they’re new to the game, that can still work as long as they are organized and willing to keep a focus on your property needs.
Property Manager Red Flag #2: Wrong Market
When hiring a property management company, they should have a clear idea of the type of properties they manage, the area they serve, and who their renters are. It’s a red flag if the property manager doesn’t know much about their own identity and market, much less how to help yours.
At Real Property Management Phoenix Valley, we help with rental management services, HOA management, and multi-family services in the Phoenix Metropolitan Area. We know our market well; if we didn’t, we wouldn’t be able to help our clients successfully manage their properties.
Just because a property manager has expertise in one area doesn’t mean they can necessarily help where you need them. Do some research on the different types of rentals the property manager works with before making a call.
Property Manager Red Flag #3: Low Occupancy
Have you ever applied for a job that had a high turnover rate mentioned during the interview or in the online reviews? This is a big red flag that indicates management is lacking; the same goes for a property management company that has a history of high eviction rates or consistently vacant rentals.
While everyone deals with difficult tenants at some point, a good property manager in Phoenix should have a handle on their properties and know how to keep them filled. A large part of resident retention is making sure the property is well-maintained, rent is easy to pay, and the management staff is accessible.
It’s a red flag if the property management company not only has bad occupancy numbers but if they blame it on the tenants. With proper tenant screening, the property manager should be able to source reliable residents who will pay rent on time, be a good neighbor and, hopefully, renew their lease.
Property Manager Red Flag #4: Too Busy and Too Expensive
A property management company in Phoenix may be well known in your market, have great reviews, and come with a history of success. Make sure they aren’t too overloaded, though, to realistically fit you into their schedule. Also, make sure that their popularity doesn’t come at too high a price.
You need someone who will be there to serve all of your property needs; you don’t want to end up on call for maintenance or collecting rent because the manager is slacking. A property manager with too many rentals to take care of may not be disorganized (red flag #1), but they may not have enough time in the day or enough staff to properly care for each and every tenant.
Remember that the property manager doesn’t need to be excessively flashy or expensive in order to get the job done; they simply need to be reliable and efficient. At Real Property Management Phoenix Valley, we make time for all of our clients and charge a competitive price to make sure everything is taken care of in the best way possible for all parties.
Property Manager Red Flag #5: Too Hands-Off
You are likely hiring a property manager in Phoenix because you have a lot of rentals to take care of or because you want to earn passive income without being too involved. If a property manager is hands-off, they won’t be filling the need of having someone who is actively in charge of your rental property. Watch out for a management company that doesn’t take a personal, invested approach to each property.
Our property management services include the following:
- Detailed Property Inspections with Pictures
- Full Tenant Placement
- 24/7 Maintenance Coordination
- Property and Vacancy Advertising
- Rent Collection
- Direct Deposit
- Tenant Eviction Services
- Property Showings
- Tenant Screenings/Credit Analysis, Verification of Rental and Employment History
- Tenant Management
- Efficient Property Maintenance
Our goal is to make your life easier while ensuring that your tenant has a safe and comfortable home to live in. If you are considering hiring a property manager in Phoenix who does not offer any of these services, ask yourself how much they will really help in meeting your needs and accomplishing your goals.
Need help managing your rental property in Phoenix? We’ve got you covered. Contact us today to get started.