• Skip to main content
  • Skip to primary sidebar

Cade Hildreth

Everything You SHOULD'VE Been Taught in School.

MENUMENU
  • Blog
  • Finance
    • Cryptocurrency
    • Real Estate
    • Gold and Silver
    • Investing
    • Increasing Income
    • Financial Q&A
  • Real Estate
  • Crypto
  • Health
    • Fitness
    • Nutrition
    • Confidence
    • LGBTQ+
  • Podcast
    • "What You Should've Been Taught"
    • Audio Feed of the Website
    • Ask a Podcast Question
  • About
    • Testimonials
    • About Cade
    • Rugby Bio
    • Instagram
    • Shop
    • Contact
You are here: Home / Exclude / 4 Tips for Hiring a Property Manager
4 Tips for Hiring a Property Manager

4 Tips for Hiring a Property Manager

June 20, 2022 By Cade's Team Leave a Comment

A property manager is a group or person that you hire to handle the day-to-day operations of rental real estate, such as single family homes, apartments, or commercial real estate assets. Typically, a property manager will find and fill a property with tenants, collect monthly rent, oversee the legal paperwork, and facilitate repairs.

A property manager is likely to bill you anywhere between eight and ten percent of the gross monthly rent you charge your tenants. For many, this is a worthwhile cost (especially if you manage property out of state).

Still, upwards of ten percent is no small chunk. So you’ll want to make sure their service is every bit as valuable as they say it is.

Below, let’s explore four tips that will help you hire the most efficient property management firm.

1. Do a Deep Dive Into Their Services

Managing property is not a one-size-fits-all deal. For example, some property managers are great at staging and listing properties.

Others run thorough credit and background checks or draft detailed, comprehensive leases.

Others excel at handling maintenance problems and getting repairs done for a great price. Others might prove to be valuable by being skillful at handling late rent payments or troublesome evictions.

If you’re able to handle any of these processes on your own, then you won’t need to grill the potential company about their history of handling these issues.

But, if you’re looking to hire a property manager to handle all o the day-to-day requirements of your property, then you will want to clearly understand the range of services that they offer and their experience to date.

2. Find Out How Many Properties They Manage

Some real estate investors acquire a portfolio of properties, either single family homes or multi-family apartment complexes.

Other people simply move into a new home and rent their old condo or townhouse as an income property instead of selling it.

Which category do you fit into?

If you choose a property manager with a lot of experience and a huge portfolio of properties, that’s great. But, will they be able to manage your small condo downtown?

Finding the right fit is important.

Occasionally, you’ll come across firms like Sold By Shannon that can manage both large and small ventures. Regardless, you will want to know how many properties your prospective property manager manages and if they will be able to make you a priority.

3. Ask About Maintenance

This is one of the most valuable assets of a property management firm, especially if you live out of state. Have an in-depth conversation with the potential firm to find out how they handle maintenance issues.

For example, if you opt for a property manager that oversees a multitude of properties, they may have their own maintenance team that will get deployed when needed repairs come up.

If, however, you select a smaller firm for that personal touch, make sure you understand the maintenance process when tenants call in to report a new problem. For example, do they outsource the work? If so, how much quotes do they collect? How fast can they get repairs handled?

Price, timelines, and quality are all important considerations when it comes to executing property repairs, because your tenants deserve to live in a safe, well maintained property with working appliances.

4. Consider Their Technology

Managing property (and people, to some extent) requires open, active, and prompt communication.

Consider whether the property management company you are considering has a systemized process to handle all of this communication.

Do they have an online portal where they house important paperwork like leases and upcoming events? Is there a streamlined process for tenants to reach out with inquiries? Can you monitor that, as well?

In today’s ever-increasing technological sphere, you want to make sure that you hire a property manager who can offer clear, prompt, and efficient communication.

The Best Property Manager for You

The best property manager for you is out there. The key is to do your due diligence before hiring a property manager and select the company that can offer you the greatest value.

For more tips and tricks on investing in real estate, read the Finance section of this blog.

5/5 - (1 vote)

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)

Filed Under: Exclude, Real Estate

About Cade's Team

Cade Hildreth is an LGBTQ+ entrepreneur, real estate investor, and former USA Rugby Player. Cade has founded 7-figure businesses, scaled websites to millions of views, acquired a portfolio of income-producing residential and commercial real estate assets, and played rugby worldwide.

As a world-class athlete, Cade has represented the USA Rugby Team, trained extensively at the Olympic Training Center, and played with elite squads from across New Zealand and Australia.

Often compared to Tim Ferriss and Ramit Sethi, Cade teaches millions to expand financially, while living an authentic and adventurous life.

Reader Interactions

Tell Us What You Think! Cancel reply

Primary Sidebar

  • Instagram
  • Twitter
  • Facebook
  • LinkedIn
  • Pinterest
  • TikTok

“As an LGBTQ+ entrepreneur, real estate investor, former USA Rugby Player, and fitness fanatic, I’ll teach you what your parents and teachers should’ve taught you, but didn’t know themselves.” -Cade Hildreth

Want to know what I learned making my first few million? Subscribe here.

Or, listen to Cade’s articles on the go as a Podcast.

Question: Where in the world were you born — and Question: Where in the world were you born — and is it where you live now? 🌎I’ll go first, I grew up in St Paul, MN, and now I live just south of Washington, DC, in Virginia.I’ve also lived in Hanover, New Hampshire; North Hampton, Massachusetts; Philadelphia, Pennsylvania; Vancouver, Canada; and Christchurch, New Zealand. ☺️
Scroll … for an inside look…Hope you’re a Scroll … for an inside look…Hope you’re all living a life that is true to you 💛
I post these videos to help members of our communi I post these videos to help members of our community become financially free. 🏳️‍🌈🏳️‍⚧️🙏🏽I’m curious … growing up, did your family talk to you about money/investing? 🤔#lgbtqiaplus #nonbinary #financialfreedom #financialliteracy
💰Financial Lesson: You’ve got to earn your mo 💰Financial Lesson: You’ve got to earn your money TWICE … here’s why💰Are these brief financial lessons helpful?Please me know by leaving a 💯 if you find them valuable
.
.
.
.
.
#lgbtqia #lgbtqcommunity #lgbtqsupport #lgbtfamilies #nonbinary #financialliteracy
My recent podcast guest @Taryn.Durant is a LGBTQIA My recent podcast guest @Taryn.Durant is a LGBTQIA+ fitness coach, health professional, and entrepreneur. What's more, she has gone through an incredible fitness transformation of her own and now teaches other people how to do it too.If you haven’t already met all of your fitness and professional goals, then you’re definitely going to want to listen to this episode, because we go deep into...- how to construct a physique of your own imagination
- how to eat for muscle gain or fat loss
- how to make fitness inclusive for all bodies and genders
- how to handle anxiety
- what your mind tries to limit you and what to do about it
- and so much moreYou can listen on iTunes or Spotify at the "What You Should've Been Taught" podcast or you can follow this link:https://podcasts.apple.com/us/podcast/guest-taryn-durant-on-inclusive-fitness-mindset-and/id1523094339
Swipe until you read the quote, please … ➡️ Swipe until you read the quote, please … ➡️It’s funny because we’re taught that “different is wrong” but everything wonderful that has happened in my life is BECAUSE of being different.Remember…Extraordinary = extra (or beyond) ordinaryRemarkable = Worthy of remarkOutstanding = To stand outExceptional = To be the exceptionSo I say, let’s embrace different … celebrate it … and pursue it.Also, Happy Easter Weekend if you celebrate … and happy Spring if you don’t! 🐣☀️🌿#lgbtqiacommunity #lgbtqiaplus #lgbtqia #nonbinary #genderfluid
Load More... Follow on Instagram

Recent Posts

Gender Spectrum

The Gender Spectrum: A Scientist Explains Why Gender Isn’t Binary

Rich Dad Poor Dad Summary

Rich Dad Poor Dad Summary – A Foolproof System for Wealth

Pride Flags

Beyond the Rainbow: Your Ultimate Guide to Pride Flags

different types of protein powder

Different Types of Protein Powder: Secrets to Getting Swole

How to start house flipping

How to Start House Flipping: A Simple 5 Step Guide

Categories

  • Confidence
  • Cryptocurrency
  • Entrepreneurship
  • Exclude
  • Finance
  • Fitness
  • Gold and Silver
  • Increasing Income
  • Investing
  • LGBTQ+
  • Nutrition
  • Real Estate

Ask a Podcast Question | Contact Us | Terms of Use | Privacy Policy

COPYRIGHT © 2019 · CADEHILDRETH.COM | PHONE: ‪(202) 660-4705‬  | 800 CORPORATE DRIVE, SUITE 301, STAFFORD, VA 22554, USA

 

*Disclaimer: Nothing on this site should be construed as medical, health, or financial advice. Before making any health decisions, you should consult with your doctor. Before making any financial decisions, you should consult with professional adviser, such as a financial planner or CPA.