What to Consider When Hiring a Property Management Company.
If you have never had to hire a property manager before, maybe you are wondering what aspects you need to consider. Here are some fairly simple, yet, important ones.
When looking at Austin Property Management companies, one of the most important things to consider is the monthly fee schedule for your rental property. Common industry rates are anywhere from 6%-10% per month of gross monthly rents collected. This will be collected monthly and you will want to make sure you get a rate you feel is fair. Many Austin Property Management companies will also charge additional fees. Some might charge a higher monthly percentage rate with less fees, or vice-versa. We will cover these fees next.
Additional Fees (For Some Companies)
Austin Management Companies will charge some or all of the following fees at different times during the year:
-Yearly management renewal fee
-Lease up fee
It is important to make sure that you understand what the following fees will cost as well as the purpose of these fees. Some companies may charge a very low monthly rate, only to surprise you with a lot of fees. Make sure to clarify all costs associated with the property management services.
Services Offered and Area Served
You will want to ensure that the Austin property management company you hire provides the services you need for your specific rental property. Maybe you have a residential rental home? You will want a property manager that specializes in the renting of these homes. Or maybe you have a small commercial property? You will want to ensure that your property manager has experience with commercial rental properties.
This guest post was provided by Rave Property Management, a Austin Texas property management company.