There are plenty of property managers and property management firms throughout the United States now. You will find quite a few in Nashville as well. Of course, there are always good ones and bad ones. You have to be careful because there is a lot at stake. The property is a costly investment. So how do you find a good Nashville property manager?
Here are some tips to help you make the right decision.
Ask these questions:
How long have the person been managing properties?
What is the present vacancy rate?
Does the person or firm has its own maintenance team? This is always going to be a huge plus, as long as the fee is reasonable.
The type of properties managed. It is always best that you choose a firm that manages fewer property types, because this allows specialization. If the firm is managing many types of properties, then ask the type they specialize in.
Does the Nashville property manager only manage properties, or does it also offer brokerage services? Specialization is good. You will find competent businesses that do both. However, there are many real estate agencies that jump into managing properties as a side business. They are not fully committed to property management, and often don’t have the resources.
How often are reports sent? Ideally, you should get a report once every month.
How often do they need to evict tenants? This will tell you whether their tenant screening processes are good or not. With a good Nashville property management firm, this rate will be very low, as the screening process is very efficient.
What are the fees?
Is this a licensed firm? Never deal with a firm that is not licensed.
This is not essential, but nevertheless, it’s a good sign that the company is taking its profession seriously.
Bad signals you should look for!
Unprofessional or unpleasant demeanor. Never hire somebody you don’t like dealing with regularly. They will always put in their best effort in the interview, and if it is not that great in the interview, then it means that it’s going to get only worse from there on. Plus, also consider the fact that this person will be responsible for interacting with your tenant. So the personals disposition is always an important issue.
Is the Nashville property manager responsive? How quickly did the person get back to you? You don’t need an unresponsive property manager. Your tenant might have a leaking sewer or another issue. It could be a real emergency. So it is essential that the manager responds quickly.
Is the manager ready to provide references? Look for somebody else if the person is not keen about you talking to some of his clients.
Limited hours. Efficient Nashville property manager should be available 24/7/365 for real emergencies. This isn’t your regular 9-to-5 job. The firm should work during the weekends too as most prospective tenants want to see when they have free time.