How to Choose a Utah Property Manager
With more and more individuals choosing to rent instead of buy a home, smart Utah owners are deciding to rent their properties instead of sell them. This can be an excellent way to continue to pay down the principal amount owed on the mortgage while waiting for market conditions to improve.
If you decide to rent your home, but don’t feel like you have the time necessary to handle being a landlord, you may consider hiring a property management company. Below are some thoughts you should consider before making your decision to ensure you find the right fit:
- Does the company specialize in a certain type of property? Some property management companies will focus their business on managing a particular type of rental property, which may include apartment buildings, single family homes, or condo associations. It may be in your best interest to employ a management company that is an expert at managing your specific type of property.
- How many properties does the company currently manage? Whether the company manages 600 units or 60 units, there are benefits to both. While the company that has more units in their portfolio shows that they are established, the smaller company may have a more personal approach to managing your property. You will need to decide which you prefer before making your decision.
- How will the company fill the vacancy for my property? You may find the best management company in the world, but if they cannot find a tenant, you will lose money. Does the company employ an hourly or commissioned leasing manager? While the hourly employee will have little motivation to fill your unit, the commissioned manager will probably cost you a little more money. You will need to ask yourself what is more important to you.
There are several property management companies in Utah that could do an excellent job managing your property, but you will want to find the best fit for your situation. If you have any questions about how to choose a management company or think we may work best for you, please contact us at FRE Property Management. We are the premier property management company in Utah and will provide you with the peace of mind knowing that your investment is being taken care of.