Looking to purchase my first rental in the next few years and I’m getting things organized.
I have two questions; what should I look for in a property management company and will a property management company take on a single property?
(I have no interest in managing my own property regardless of potential cost saving)
@Craig Risser you definitely can find a property manager to manage a SFH. Look for feedback on here or check out NARPM.com for someone local. If you want to jump on a call at all on what to look for in a Pm I am happy to spend 15-20 minutes with you.
A good property management company is KEY if you are not wanting to self-manage. I will be glad to give you some tips and things to look for when you are in search for a GOOD property manager.
- The property manager should be able to educate you on a market (if needed) , help you form a strategy, fit right into your due diligence process, and execute on a clear takeover game plan as soon as you hold title.
- Resonable pricing for the area!
- Someone who is honest and reliable at all times. Proper communcation is important, to make sure you are aware of what's going on with your property and tenants.
Will a property management company take on a single property?
This should not be a problem, a professional property management will take single properties.
These are just a few things to consider, there are plenty of good property managers out there, just make sure to do all your research before making a final decision:)
@Subbie Kaur @mark ainley thank you both!