Why hire a Fort Worth rental property management company? Time. Doing all the things that rental property management requires is a sure to make your real estate investment business a lot harder to grow.
Hiring an experienced Fort Worth rental property management company will allow you to grow your real estate business by allowing you more time to find the next great real estate deal. Hire a good Fort Worth property manager, but before you do, here a a few good questions to ask.
11 Questions to Ask Your Fort Worth Texas Property Management Company
1. How much are the Property Management fees? Fees vary around the country from as low as 4% of gross rents for larger buildings, to as high as 12% for single family homes. Be sure the fee is clearly stated and understood.
2. What other properties do they manage? It is best if they handle rental properties that are similar to yours. It is also helpful to drive by their other properties to see how they are maintained.
3. Who will actually handle your property? It is best if one person handles your building all the time. They should also have some experience. Get their name.
4. What costs extra? Is it extra for showings? Do evictions cost extra (beyond the legal fees)? Any other extras?
5. How is the fee collected and when? Will you be billed, or will it be deducted from your account directly? Monthly? Quarterly?
6. What type of advertising? How do they advertise the units and what does it typically cost you?
7. Cost and time to prepare rentals? What is the typical cleaning fee on a vacancy, and how long will it normally be before it’s rented out again?
8. What needs owner approval? What dollar amount needs your authorization, and is this negotiable?
9. Hours of operation? What are their business hours, do they take calls on the week-end?
10. Accounting? What reports do they send? How often? How are accounts set up?
11: Repairs? How does the property management company handle repairs for your rental?
I’m sure there will be other questions you’ll have as well, based on your business needs and your individual property needs. When you ask everything up front, you’ll have fewer misunderstandings.
With an experienced Fort Worth rental property management company, real estate investing will become a lot less stressful.