A good property manager is hard to find. But with a checklist to go by, you may find your selection process a little easier.
As you’re looking at the best property management companies for your Collin County rental, make sure you have someone that understands the county and has a proven track record of managing successful rental homes in the area. Here’s everything you need to know.
About Collin County
If you’ve been to Collin County, you know it’s a great place to invest in real estate. With cities like Frisco, Plano, McKinney, Allen, and Anna that constantly appear in the top of “best places” lists, the influx of new residents never lets up.
Here, you’ll find newer houses (meaning fewer repairs) that rent for about $2K a month. Throughout the county, you’ll also see high-ranking school districts. Meanwhile, there’s always something big and new in Texas. Dallas provides this north-lying suburb with endless shopping venues, sporting events, and other lifestyle amenities that keep it a fresh and fun place to live.
Because of all those perks, you know you have a desirable property. Now you need the right manager.
Your Checklist for Selecting a Property Manager
When it comes to choosing the right manager for your property, do a little research. Don’t rely on recommendations alone. Make time to talk to your potential managers (or scour their websites) to see how they do business in Collin County.
Ask these questions to see if they’ll be the manager you’ve been looking for.
Do you have an office in Collin County?
The location of a business tells their focus. If they’re outside of the area, they may not specialize in this part of town. You’ll notice a pattern in vendors and contacts based on location.
What properties do you currently manage in Collin County? What percentage of your portfolio is in Collin County?
You want a company that has multiple houses in your area. With similar properties comes experience. Your manager should know the market and have a proven record of finding tenants searching for places like yours.
Do you use vendors in Collin County?
When a management group has several houses in an area, they tend to build relationships with nearby vendors. This speeds up the repair process and keeps costs down. Vendors will drive for a visit or two, but if commutes become more frequent, you may notice an up-charge added to your bill.
How many days on market does new property average?
Look at the manager’s track record. If other properties are leasing quickly, yours probably will too.
Where do you market?
Make sure your manager has a marketing plan. Again, your house shouldn’t be an exception. When you see how they market other properties, you’ll see how they plan to market yours.
Is it going on MLS?
MLS greatly increases your exposure to other agents. If you want your numbers to go up, you’ll want your property listed on MLS.
What’s your screening process?
Of course, you want reliable tenants, but finding them isn’t a matter of luck. You want a management group that screens potential tenants to find the best fit for your property.
How long have you been doing business in Collin County?
Having someone new in town isn’t always bad, but again, there’s something to be said for experience. When a management group stays in the area, they build relationships, set reasonable expectations, and have a pool of resources someone new just doesn’t have.
What’s the team and manager’s location?
The location of your management team may not make a difference for your scheduled appointments, but it matters during emergencies. If your tenant needs something at 2 am, how long will it take for someone to get there? You want someone nearby so they can quickly respond to urgent matters.
With the right questions up your sleeve, finding the right property manager becomes a much easier process. With a good manager to guide you, Collin County offers you a solid market for your next real estate investment.
Not sure how to get started Finding the Best Property Management Company? Give us a call!
Image Source: Shops at Legacy
