What do you look for in a property management company?

[Steve Fitzgerald]

Why are your criteria to define what a good property management company is? What are your non-negotiable?What are the red flags?

[Chris Sellers]

Steve,

I've only had 2 since I stopped managing my own (8 years or so).  If my current one retired and I had to go shopping, I would:

• ask around for referrals.  
• want someone who's been in business a few years at least.
• insist on a client list so I can talk to their landlords.
• drive by to see properties they manage, talk to renters if I catch them in the yard.
• insist that I be contacted and given a chance to make my own repairs if I want.  I won't really do this, but if they resist, it suggests they plan on making money on maintenance (avoid these guys).

Also, I prefer one who's also an agent.  This gives them an incentive to find deals for you, since they make money when you buy, when they manage, and when they sell.  

Good Luck!

Chris