Currently I am looking for a property management company for one of my rental properties. Its over an hour drive from me and it is taking far to much of my time right now. I thought I would share the process I am going through to select a company.
I'd like to hear others ideas, criteria and constructive criticism on this process.
So far I decided to locate as many pm companies in the Denver area as I can. To do this, I talked to people in my network, googled property management Denver, and looked on craigslist.
I choose to narrow my list down to only companies that have websites. I feel that if you haven't joined this realm by now, what else are you not keeping up on in the field of property management.
With that somewhat narrowed down, I have found 36 local Property Management companies. there may be more, but I was unable to find them in my search, they had better work on their SEO.
With the list I have I plan on sending out the following questions to the property management firms via email. This is a sample email I plan on sending out. Feedback appreciated.
In searching the forums, I did find this other post that is similar, but not exactly what I was looking for.
http://www.thefastlanetomillions.co...15104-teach-me-about-property-management.html
I'd like to hear others ideas, criteria and constructive criticism on this process.
So far I decided to locate as many pm companies in the Denver area as I can. To do this, I talked to people in my network, googled property management Denver, and looked on craigslist.
I choose to narrow my list down to only companies that have websites. I feel that if you haven't joined this realm by now, what else are you not keeping up on in the field of property management.
With that somewhat narrowed down, I have found 36 local Property Management companies. there may be more, but I was unable to find them in my search, they had better work on their SEO.
With the list I have I plan on sending out the following questions to the property management firms via email. This is a sample email I plan on sending out. Feedback appreciated.
Good Morning,
My name is Jason @$#%^, I am manager and owner of %^&*& Investments and I currently own 3 rental properties. Do to time constraints, I am searching for a property management company for one of my properties initially. Eventually I would like to have all three properties and any future properties under management. The properties in questions are located in the following neighborhoods at ....
To assist in my search for a high quality management company I would ask that either the following questions be answered via email or phone conversation.
How many properties are under your management?
How many of those properties are currently vacant?
What is your initial setup fee?
Management fee?
Management fee during vacancy?
# Of evictions in the last 12 months?
Fee for eviction?
Surcharge fee for maintenance?
Do you allow outside owner picked maintenance companies for certain items?
(I have Blue ribbon home warranty)
Who is liable for costs if maintenance is not done correctly the first time?
Contract length for management?
Cancellation fee if contract is terminated?
Do you own your own rentals?
If yes, whose property takes priority on lease up if both of ours are vacant?
Do you sell properties?
Do you have exclusive right to sell my property?
Do you get a commission if the tenant buys the property?
Allow lease options?
Do you have any Additional fees?
I know your time is valuable, I appreciate you taking the time to respond. If you have any questions of me, I can be reached at 303-###-####. Or by email at ....
Thank you for your time.
Jason
In searching the forums, I did find this other post that is similar, but not exactly what I was looking for.
http://www.thefastlanetomillions.co...15104-teach-me-about-property-management.html
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