Hiring the right Property Manager is like finding a partner for a long and treacherous journey. The right Property Manager will be instrumental in your in the success or failure of your Los Gatos property. Here are some of our best recommendations for finding a great Property Management Company:
1. Reliable Business References : You should ask for reference from this company about other properties they are managing in Los Gatos.
2. License Requirements: Property Management requires a licensed activity in California. There are Federal laws that prevent discrimination based on Sex, Race, National Origin, Sexual Orientation, Family Status, Martial Status and Disability. Make sure the property manager you have in mind for your Los Gatos property has an active license is aware of the Federal Housing guidelines so he does not get you into hot water with the feds.
3. Tenant Screening Services: Find out what sort of services your property manager conducts to screen tenants. We recommend extensive background checks including Dept of Motor Vehicles, Criminal and Employment checks. One year with a bad tenant, could wipe out your rental income of 5 years! So, it’s critical that your Property Manager is able to screen for excellent tenants with great references.
4. 24 hour Response Center :Depending on the size of your property you need to find out if the Property Management company is staffed properly to mange your property. For every 10-15 units you should require an individual property manager to be assigned to your property. They should have call service to emergency maintenance calls 24 hours a day.
5. Eviction Services: Although you are hoping it would not come to this, but evictions do happen and your property manager should have all the resources in his disposal to help evict non-cooperating tenants from your property. For a complete list of Property Management Services we offers, visit our property management services page.
6. Low Monthly Fee: The Property Management fee you are paying will directly impact your bottom line. There are wide range of fees based on the amount of work the Property Manager is responsible for in your agreement. The more tasks that are assigned to the property manager, the more fees they will charge. Also, don’t be romanced by the cheaper rates cause as the old saying goes, you get what you pay for.