| Owning residential property can be a great | | | | Many residential property management companies |
| investment especially if you are renting you're the | | | | will require that you sign a year's contract and this |
| property on a monthly basis and thus realizing a | | | | can be fine unless you find that you are not |
| nice monthly income for yourself, but just | | | | happy with their services. Ask first if they have a |
| because you own the property doesn't | | | | contract that they require to have signed and if |
| necessarily mean that you want to be a landlord | | | | there is a clause in the contract that will allow you |
| and this is where a residential property | | | | to void the remainder of the contract if you are |
| management company can come in. It may not | | | | not satisfied with the service. |
| even be a matter of you wanting to be involved | | | | Are They Licensed and Experienced: While |
| with the day to day of the residential property or | | | | many residential property management companies |
| not, but you may live out of state and thus have | | | | are run out of a real estate office some are run |
| no other viable option than to seek help managing | | | | as a standalone service. This is not to say that |
| your property. | | | | one is better that the other, but you need to |
| Because there are a number of residential | | | | know the extent of their experience and you also |
| property management companies to choose from | | | | need to be sure that they have any necessary |
| it is important to know the answers to a few | | | | licenses in order to stay legal. The licensing may |
| questions before you hire a company to manage | | | | vary from state to state so you will need to |
| your residential property for you. Here are some | | | | check with the state that your property is |
| good things to know before you give a company | | | | located in order to determine what kind of |
| your hard earned money: | | | | licensing you should be asking the company about. |
| How Involved Will They Be: Before you | | | | How Will They Communicate: You want to |
| decide whether or not to give the residential | | | | work with a residential property management |
| property management company that you are | | | | company that will be easily accessible to address |
| considering any money, be sure that they will | | | | any concerns you have quickly and to be sure |
| cover everything you will want done. This can | | | | that you are brought up to speed with any |
| include but is not limit to negotiating the lease, | | | | possible problems with the property quickly as |
| signing the lease, being sure general maintenance | | | | well. Therefore you will want a company that |
| is done to the property, accepting rent, dealing | | | | offers you phone numbers, e-mails, and any other |
| with tenants concerns, and basically aided you in | | | | form of communication that you will require to |
| whatever way necessary. | | | | stay in constant contact with them. |
| How Will They Charge You: Some residential | | | | Remember, the residential property management |
| property management companies will charge you | | | | company that you hire will be a representation of |
| a flat rate per month and others will charge you a | | | | you. In order to be sure that the rental process |
| certain percentage of the rent. You will want to | | | | goes along as smoothly as possible you will need |
| find this out before hand as one way may offer | | | | to be sure that you do your homework and go |
| you a savings over the other. | | | | with the best qualified and most experienced |
| Do They Require a Contract: Another | | | | residential property management company that |
| question to ask is about the length of a contract. | | | | you can find. |