If you are like most people, you understand the importance of diversifying your investments. You may also recognize the value of adding real estate to your investment portfolio. Real estate typically accrues in value, and if you own rental properties, your tenants typically pay your mortgage every month. However, not everyone wants to be a landlord, so you may be looking for a reputable property manager. Consider these tips for finding a great manager.
Ask About Certifications
Although most states only require a real estate broker’s license, a reputable company should also hold a certification from an industry association. As you search for a local manager, e.g., Certified Property Manager Houston, consider asking if they have certifications. For example, do they belong to the Building Owners and Managers Association International? Do they hold certifications from the Institute of Real Estate Management, National Association of Residential Property Managers, National Property Management Association or National Apartment Association? Your type of property will determine which certifications will be most valuable.
Learn About Their Experience
Your property is an investment, and as such, you need to protect it. Therefore, you need a manager with experience managing your type of property. For example, apartments are managed differently than single family homes or commercial properties. Ask how long these individuals have managed each type of property. In addition, learn whether they work as a property manager full time or if they manage properties on the side. Choose a full-time person or company.
Reputable property managers will not hesitate to provide you with proof of their licensing and certifications. You can also contact the organizations they claim membership to and ask about these certifications. Your state’s real estate commission can tell you whether their broker’s license is valid. Finally, ask for and check their references and search online reviews.
Whether you are a new investor or you have multiple investment properties, protect them by working with a reputable property manager.