Press Release (ePRNews.com) - KEY WEST, Fla. - Apr 21, 2017 - Per Fred Mullins, Top Producing Member of Team Mullins at Coldwell Banker Schmitt in Key West and owner of www.lowerkeys-homes.com,”Many first-time rental property real estate investors don’t see a need to hire a management service. They believe it’s no big deal to handle the job of a landlord. That is, until it begins to become a burden (which is practically inevitable).
So, here are some helpful questions to ask to choose a reputable property management company:
● How many properties do they manage? You need to know how many rental homes and what types the service manages. This is important because if it’s a huge number, you’ll want to know why and how they pull this off.
● Do they own rental homes themselves? This might seem like a big benefit because the property manager will understand what it’s like to have a personal stake in the game. But, it can constitute a detriment because which properties do you think will receive the most attention? Yours or theirs? (If it’s just one, two, or a few, this isn’t usually an issue.)
● How often do they check rental properties? You want a property manager who stays in the loop about the condition of their rental homes. While they don’t have to check frequently, it ought to be part of their routine to do so on a regular basis.
● What is their fee for their services? Ask what their fee is and if it’s collected whether or not rent is collected. In other words, some will still charge a fee, even if the tenant stops paying rent. Generally, property managers charge between 7 and 10 percent of the rent.
● What’s the protocol for emergencies? Inquire about how emergencies are handled. Things like when an air conditioner goes out in the summer or when a pipe bursts. You need to know how they will alert you and what steps they will take to deal with emergencies.
● How do they handle routine maintenance? Also, you need to know about their maintenance protocol. What is and isn’t included in their services? After all, you don’t want to incur additional costs if these can be avoided.
Fred Mullins, P.A. holds an MBA, B.S., real estate license United States Coast Guard Master Captain’s license and commercial pilot’s license. With over 20years of cross functional experience in real estate, international asset management and construction management, Fred’s experience places him as one of the top real estate professionals in the Florida Keys.For help with buying or selling Real Estate in the Lower Florida Keys,see http://www.lowerkeys-homes.com