Circumventing Bad Property Managers

by | Oct 22, 2013 | Property Management

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In the real estate industry, you sometimes have to take the good with the bad.  Just like any other industry, balance is essential in order to yield the greatest financial results.  But, what should you do as a property owner to determine between the good and bad property managers?  Albuquerque professionals in the property management field are available for your review, but here are a few ideas to consider when searching for a quality professional to manage your properties.

Ask Questions Up Front
It may be a good idea to set up a time to speak with a property manager.  During this time, ask several questions. For example, ask how long they have been in property management, how many properties are in their portfolio and what their vacancy rate is.  Inquire about onsite maintenance staff in addition to any brokerage services they provide. Additionally, carefully observe the demeanor of the property managers. Are they unpleasant or unprofessional? If so, consider looking for another firm to work with. The answers to these questions can be a good indicator regarding the business practices of the property manager.

Discuss the Frequency of Evictions
Believe it or not, the more evictions a property manager does, the more likely it is they are not a good property manager.  Screening is essential, and sadly, many companies go easy on the screening in exchange for a quick buck.  While all property managers conduct evictions, good ones are not in a position to conduct them frequently.  A good rule of thumb is the more evictions processed, the more likely it is the particular management firm is not one of the better ones.  Keep this in mind as you progress with your search.

Licensing and Certifications
Any managers you work with should be licensed and have a certain number of certifications.  The certifications should be from a trade organization within the real estate industry. For example, if you owned property in Albuquerque, you would want to make sure the managers you hired were licensed and certified. Most of the property management professionals who take their work seriously will have certifications. These are basic indicators of good property managers. Albuquerque managers, on average, take their certifications quite seriously.

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