When you own a rental property in Philadelphia, it’s important to know how to find the right property management in Philadelphia. You want to make sure that the agency you hire is experienced, efficient and can provide your tenants with the highest level of service possible. To help you make this decision, we’ve put together this comprehensive guide to finding and working with a property management company in Philadelphia. We’ll cover everything from choosing an company to getting the best possible results out of your partnership!
Finding the Right Property Manager
You can find a good property manager by asking the following questions:
How long have they worked in this field?
What kind of training do they have, and where did they get it?
Do they have any experience managing properties in your area or similar areas?
In addition, there are some red flags that you should watch out for when interviewing potential property managers:
They want an upfront fee before starting work on your home. If a real estate agent or other professional tells you that she needs money up front before doing anything else, run away as fast as possible! This is likely just a scam artist looking for a quick buck from desperate homeowners who think they need help finding tenants or fixing up their homes after damage from storms like Hurricane Florence last year (or even earlier than that).
The Different Types of Property Management Company
Property management companies can be divided into three categories: residential property management, commercial property management and investment property management.
Investment Property Management Company
The second category is investment property management. These types of agencies are typically hired by investors who own multiple properties in a specific area or region that they want to lease out to tenants but don't have time or resources to do so themselves. Investment property managers make their money on commissions from finding tenants, collecting rent checks and paying bills on behalf of the owner(s). They also oversee maintenance issues at these locations on behalf of their clients--for example if something needs fixing in one unit then they'll hire someone else (or sometimes even do it themselves) rather than having each individual owner fix his own issue independently which could lead him down a rabbit hole where there may be more problems lurking than just what originally seemed apparent when he first looked into things himself! In short: this kind of service saves time/money/headaches because everything gets done under one roof instead of having multiple individuals dealing with each other separately over different areas within an apartment complex etc., thus making sure nothing falls through cracks during business transactions between parties involved."
How to Find the Right Fit
Finding the right fit is important, and you should spend time researching prospective property management agencies. Here are some questions to ask:
What kind of properties does this agency manage? If you need something specific, like a particular kind of building or unit size, then make sure the agency has experience with those types of properties.
How long has it been in business? The longer an agency has been around and established itself as trustworthy means that there's less risk involved when hiring them; if they're brand new on the scene or don't have much history yet (or even if they do), be careful about signing any contracts without fully understanding exactly what they mean for your situation. You also want someone who knows how things work locally--a newbie might not know where all their competitors are located!
A comprehensive guide to finding, choosing and working with a property management agency.
Choose someone you can trust.
Make sure they're licensed and insured.
Ask for references, and check them.
Look at their website to get a sense of how professional it is--are there photos of properties? What kind of information does it provide about the company? If it's not clear what services they offer, or if there are spelling mistakes on the site (or in their emails), that could be a red flag.
Find out how they will help you achieve your goals: Do they specialize in certain types of properties or neighborhoods? Are they able to handle all aspects of property management from start to finish, or do they have relationships with other professionals who specialize in specific areas (such as maintenance work)?
We hope this guide has helped you understand the process of finding, choosing and working with a property management in Philadelphia. There are many factors to consider when deciding which company is right for your needs, but as long as you do your research and ask questions, it should be an easy decision. Good luck!