What to Look for in a Jacksonville, FL Property Management Company
Finding the right Jacksonville property management company for your rental property is an important part of having a successful and profitable investment experience. With a good property management company, you can expect that your rental home will be occupied by good tenants and its condition will be protected and well-maintained. With the wrong property managers, you’ll find yourself frustrated and more stressed out than when you were managing on your own.
The company you choose will depend on your portfolio and the services you need. There are a few things you should always look for, however, when you’re seeking a management company for your Jacksonville rental.
Jacksonville Rental Market Expertise
Experience is important. You want to choose a property management company that has years of experience managing rental homes successfully. But, the number of years they’ve been in business isn’t as important as the depth of their experience. You want an expert in the local market. Make sure they understand the Jacksonville real estate trends and the way tenants are looking for properties. You want to be sure they know the market well enough to price your property correctly and make recommendations about updates and upgrades that will help you earn more and avoid vacancies.
It’s also important that you choose a property manager who has the knowledge and the talents required for your sort of property. If you have multi-unit dwellings and small apartment buildings, using a management company that specializes in single-family homes is probably not your best option. Look for areas of expertise that match what you need, and make sure they’re local.
Property Management Systems and Processes
When you talk to management companies, they should be able to tell you exactly what they do in nearly every situation that may arise. They should have a consistent leasing process, a procedure for screening tenants, a schedule for preventative maintenance and inspections, and a rent collection policy. Ask about what they do when a tenant doesn’t pay rent, or how they handle unauthorized pets. You should hear specific plans and feel comfortable that they have systems in place that solve problems.
Every property is a little different and there should always be room for flexibility and customization. But, a good management company with automate and systemize everything they can in order to efficiently and effectively deliver their services.
Technology and Communication in Jacksonville Property Management
It’s important to ask about technology when you’re interviewing potential property managers. Hopefully, you’ll get a good idea of their willingness to embrace technology just by checking out their website and looking at their online presence. You also want to know what kind of software they use and whether you can expect to receive direct deposits of your rental income and if you’ll receive monthly accounting statements and reports. You’ll want to be able to view the income and expenses associated with your property at any time, so make sure they offer a portal for both owners and tenants. When renters can go online to make payments and submit maintenance requests, you have all the documentation you need right in front of you.
Technology can also help with communication, especially if you’re a rental property owner who doesn’t live in Jacksonville. You’ll want to be able to keep in touch, access information, and send messages at any time that it’s convenient for you.
These are three of the most important things to consider when you’re seeking a Jacksonville property management company. If you’d like to talk about this further or hear about what we can do for you, contact us at St. Johns Properties.