How to Find the Perfect Property Manager
Everyone on your team must share the same goal
Riana King is an Arizona native with fourteen years of experience in the real estate industry. For the past seven years, she has worked for Real Property Management (RPM), which has locations in Scottsdale, AZ and Tucson, AZ. Riana manages residential long-term, short-term vacation, multi-family, and commercial properties and her clients range from accidental landlords to clients with much larger portfolios.
According to Riana, the most important thing to look for in a property management company is a solid foundation. She warns against part-time property managers and one-man shops that might not have the time or resources to fully devote themselves to each client. A sign of a good company, she says, is the ability to call them and get a real person on the phone right away. At RPM, Riana prides herself on her own communication and reachability.
Landlords don’t have to be local to Arizona to take advantage of Riana’s services. Riana uses technology to keep out-of-state and even overseas clients in the loop and acts as their eyes and ears. If her clients need someone to go in-person to check on their properties, Riana is the one to do it.
Investment property is a business, Riana says, and you have to be able to trust the other people on your team so that you can use your own time wisely. Riana works to keep her strategies in line with her what her clients want. She says that the key is to find a property manager with the resources of a large company, but who treats you as an individual and helps you reach your specific goals.
Property managers like Riana spend most of their day “putting out fires,” which can be stressful for some but which Riana finds exciting and motivating. She lives by the words of former UCLA basketball coach John Wooden, “Discipline yourself so others won’t need to.”
5 Key Points:
- Communication is key. Good property managers bridge the communication gap between landlord and tenant. Beware of property managers who are difficult to reach on the phone or who don’t respond promptly to communications.
- Have questions for potential property managers. Have a list of questions ready when searching for a new property manager and prioritize the ones that are most important to you.
- Good property managers understand your goals. Don’t be afraid to cancel a property manager that isn’t right for you.
- Bad property managers will spend your money without you. Poor managers don’t abide by maintenance terms and will spend money without calling you first. Good property managers will always call you before spending your money.
- Good landlords recognize that real estate investing is a business. Be prepared to set aside your personal feelings, take reasonable risk and accept that incidentals happen. Even great tenants can be unpredictable and landlords have to understand that.
Favorite Athlete: Peyton Manning, former NFL quarterback
Favorite Book: #GIRLBOSS by Sophia Amoruso
Connect with Riana King and Real Property Management on Facebook or check out RPM’s Scottsdale and Tucson websites.
Thank you Riana for taking time out to share some great property management tips with us.
Tune into Riana's interview on iTunes, Stitcher or Google Play.
Invest well,
John Carney
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