Service is everything
When you’ve reached the point where you either have too many properties to manage yourself or should you have a property aboard that requires regular checks, then you are on the cusp of setting up an agreement with a property management company.
The most important part of the deal is to agree the service level offered and check it matches your requirement before you commence in to contract with them. Each property will have different requirements and, more importantly, each management company will offer differing services.
Once happy with the service level, the prices must reflect what you are happy to pay, and ensure that you can recoup them by passing them on to your customers via the rental fees.
Its good advice to speak with current clients of property management, to ensure they receive all that was promised. This is a perfect way to gauge suitability of the management company to your specific needs. Alternatively, agree a trial for 3 months – this way you can get out of contract should you feel the service is not as expected.
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