Do you have multiple properties you need to run? We all can't be in more than one place at once, which is why bringing property managers on deck to help ensure your properties run smoothly at all times is essential.
However, there are some mistakes that people commonly make when hiring property managers that you're going to want to avoid. Check out this property manager guide of mistakes and solutions below.
Overlooking the References
It's important to ask people if they have references not because you don't believe they can do the job but because you want to cover all your bases. Failing to call references can cause you to miss significant red flags that would've been apparent if you'd taken the time to look.
Before confirming that you want to hire a property manager, ask them for a list of resources. Once you receive the list of references, you need to take some time to travel to each property and check out the condition that they were left in.
If possible, take some time to speak with the tenants about the experience they had with the property manager you're interviewing.
Not Performing Annual Check-ins
Yes, one of the main property manager duties is to keep all properties in running condition. However, this doesn't mean that you shouldn't take time to check in with them to see how things are going.
One mistake you can make when hiring a property manager is leaving them to their own devices as you focus on other properties you have under your portfolio. You need to have an open line of communication with your property manager.
It's also good for you to have conversations with the tenants that are living within the properties under the control of that manager. If you're not able to make it to the property because you live further away, schedule a virtual conference or have the property manager send you photos.
Not Asking the Right Questions
When you hire someone to manage your properties, there is no question that it is off-limits. If you're not careful in finding the right person, you could be conducting interviews again in a few months.
Before you meet with prospective candidates, take your time to list several questions you need the answers to. As you ask them, pay attention to the answers you receive but also the way that the answer is given.
Sometimes a person's demeanor when they're answering questions is enough to alert you to a red flag that could keep you from hiring them.
Mistakes to Avoid When Hiring Property Managers
When you're hiring property managers, you've got to take your time. Don't forget to ask the right questions and ensure you check their references.
Whether you're looking to bring a manager onboard or find tenants to fill your properties or need more property manager tips, we can help with that. Contact the HomeRiver Group and let us help you today.