When you’ve decided to have a property manager step in and help you with some or all of the responsibilities associated with your rental property, you need to find the best DC property management company for your particular needs.
The right property manager can not only help you maximize your investment but can become someone you can partner with for long-term success. So how can you find and hire the right professionals to assist you with your rental property? Here’s your guide for getting started.
Look for a Local and Established Company
Hiring a property management company near your rental property is typically in your best interest. You want a professional who can be on-site at your property as soon as possible in an emergency and can conveniently access the property for inspections, tenant complaints, and maintenance.
Look for a local and established property management company in DC, especially if you’re located in another state and it’s inconvenient for you to get to the property to do all the necessary tasks. An experienced property manager can take this stress off of you by being close by for easy access to your rental unit.
Compare Fees and Services Offered
Different property management agencies have different fees and price structuring. When looking for a company, ask about their fees and the services they offer. You want to be sure that the agency in question can handle everything you need for a stress-free investment.
Some property management companies charge a percentage of the monthly rent as their fee for the services they offer, while others charge a flat monthly fee. It’s also important to find out if maintenance is included in the price you pay, as some companies consider this to be a separate charge and will bill accordingly.
Ask About Their Tenant Screening Process
The tenant screening process is perhaps the most important step when filling a vacant rental unit. After all, the renters your property management company finds for the unit will impact your income as well as theirs.
Ask the agency about their tenant screening process and how they will advertise your property. You want to ensure the company will market your income property effectively to fill the vacancy as soon as possible. However, you also need to know that the property manager will thoroughly screen applicants to find the right person for your rental.
At the minimum, their tenant screening process should include:
- A credit and background check
- Verifying employment and income
- Following up with references of previous landlords
Find Out If They Manage Properties Similar to Yours
When looking for a DC property management company, it’s a good idea to search for an agency that has experience handling properties similar to yours. Whether your income property is a single-family home, a multi-unit apartment building, or a condo with dozens of tenants, you need to know that your property manager can handle the job.
Ask about the types of properties they typically manage and the number of tenants at their average property. If the company mostly handles single-family homes while you have a large apartment building, this agency may not be the best fit for your needs.
Looking for a Reputable Property Management Company?
Finding the best property management company in Washington DC doesn’t have to be complicated. By doing your due diligence, you can ensure you end up with a property manager you can trust and one that will help you manage your income property for the better. Contact FAS Management today at (202) 337-5080 to discuss your income property’s needs in the nation’s capital.
