Now this might be a dumb question, but how do you guys go about picking a property management company? I'm just starting out and I will need to work full time until I have enough properties. To start I wont have the time or resources to directly manage the properties for repairs and tenant issues, and afterward I'd like to use the time I've gained toward building the business bigger. Is this form of outsourcing a bad idea? A lot of the material I've seen on this site is in relation to the person setting up and running thier own property management company/systems once they buy thier first property. That said, is it a viable choice to have all property acquisitions managed by the same company you've hired once you've found a found a good property management company?
Thank you, and I look forward to hearing your thoughts.
References, references, references. And you want to know about your individual manager just as much, if not more, than the company itself. Make sure you select a company that is constantly innovating and implementing new technology; there are tons of mom and pop shops stuck in the 80's that simply can't handle the growing number of customers that want to do everything online. But again, references, references, references.