How to hire a Property Management company?!

Finding the right Property Management Company is like find a traveling partner for a long and unpredictable mission to find wealth.  The right Property Management company can determine the success or failure of your Rental Income properties.   Here are our Top 5 Questions you could use to screen the right property management company:  

1) Tenant Screening Services:  Find out what kind of services they perform for tenant screening.  Some Property Management companies just perform a routine credit check that does not include Dept of Motor Vehicles,  Criminal and Employment checks.  

2) References:  Ask for reference and about the responsiveness of this property management company and their performance with tenant screening. 

3)  Licensed History: Find out how long this company has been licensed to perform property management in your area.  Also, find out if they are operating as a Franchise or a an independent corporation that might add mandatory fees to your bill.  

4) Eviction Services: Finally, another critical service that a property management company should offer is Evictions in case you tenants are not making timely payments.   For a complete list of Property Management Services we offers, visit Homestretch Properties site.

5) Management Fee:  The Property Management fee you will be charged impacts your ROI for you rental properties.   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.

Bottom line is that one bad year with a tenant that damages your property can wipe away 2 years of profit, so tenant screening is the king of all services that you should rely on for finding your Property Management Company to help you with your properties.  

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