houses | property management companies in Florida

Finding Property Management Companies in Florida

With so many property management companies in Florida, how do you know which one to choose? As a property owner, you are entrusting your investment to someone else. That’s why it’s important to find a company that is experienced, professional, and trustworthy. Here are useful tips when finding a Florida property management company.

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How to Find Property Management Companies in Florida

Proprietors are well aware of how much hard work goes into managing a property. While some property owners manage to get by, others struggle to handle essential tasks such as maintaining facilities, collecting rent, and finding new tenants. That’s why most owners decide to hire a property management company in the first place.

When it comes to property management in Florida, there are so many companies to choose from. Property owners may become overwhelmed with the search process and end up choosing the wrong company. If you want to make sure that you are entrusting your investment property to the right company, here are important tips to keep in mind.

 

Ask for Referrals

Directly contacting property management companies isn’t always the best first move to make. A lot of companies will give you a hard sell and there would be no way for you to verify the information they provide. Most of the time, it’s much better to first ask friends and colleagues for referrals. You may know other proprietors who can recommend to you highly-rated property management companies in Florida.

Of course, referrals shouldn’t be the only deciding factor when trying to find Florida property management companies. You should still personally vet the company that you end up choosing.

 

Visit Similar Properties

looking at property | property management in FloridaAnother way to find property management companies in Florida is by visiting properties that are similar to yours. Is the property beautiful and well-maintained? Or, are there trash and debris all over the place? Try to inspect the facilities as well to see if they are functioning or in dire need of maintenance and repairs. You can also ask tenants if they are happy with their property manager. If you like what you see, you may want to consider the company that is managing the property.

 

Conduct an Online Search

The advent of the internet has made the process of searching for a property management company in Florida much easier. You can use Google to search for management companies serving your area. For every potential candidate, make sure to visit their official website. You’ll be able to learn a lot about the company as well as their property management services in Florida. Also, don’t forget to check social media websites like Facebook and Twitter for customer reviews.

Aside from checking various websites for information, you can also streamline the search by visiting Florida Property Management. We have a comprehensive online directory for property management companies operating in Florida. Guided by years of experience and a deep understanding of property management, our professionals were able to build a platform that features only the most qualified companies.

 

Regardless of which search method you choose, make sure to obtain as much information as you can. Also, keep in mind the specific needs of your property. After conducting a preliminary search, you will be able to come up with a list of potential candidates.

 

How to Choose a Property Management Company

Once you have a shortlist of potential candidates, you can move to the second stage: the vetting process. The goal here is to personally interview your chosen property management companies in Florida and whether they are a good fit for your property. Here are the steps to choosing a property management company.

 

1. Interview Your Chosen Property Management Companies

When choosing a property management company, the rule of thumb is to interview at least three candidates. This step is very tedious and time-intensive. However, all the effort will be worth it once you find the perfect company to manage your property.

Observe which companies make a good first impression. Were they easy to contact or did you have a hard time scheduling the meeting? What is the general attitude of the managers and staff in the company that you are interviewing? If you are already encountering problems at this stage, this may be a red flag for that company.

 

2. Ask the Important Questions

asking questions | property management in FloridaHere are the key questions that you should ask your potential candidates:

  • Does the company have licenses or certifications?
  • How many years have they been in business?
  • How many properties are they currently managing?
  • What is their process for setting rental rates?
  • How do they collect rent?
  • What property management software or tools do they use?
  • What are their tenant retention rates and average vacancy rates?
  • How do they screen potential tenants?
  • What advertising and marketing strategies do they employ?
  • How do they handle maintenance and repairs?
  • How often do they perform property inspections?

 

A company’s answers to these questions will provide you with a better picture of how they will manage your property. Once you are satisfied with their answers, you can move on to the property management fees.

Find out how much each company charges for property management and the full scope of their services. Also, make sure to ask about fees for additional services. You don’t want to choose a property management company with a low monthly fee only to find out that they have numerous hidden charges. Since you are doing this step with at least three different companies, you will be able to compare the fees and services of each one.

 

3. Review the Contract, Negotiate If Necessary

Once you have decided on a property management company, it’s time to draw up the contract. Make sure to thoroughly review the document. You can even consult an attorney to make sure that the terms are reasonable and fair. Once the contract is signed, it is legally binding and you can no longer make any changes. Negotiate the terms if necessary, before signing the contract.

Important sections to look for include the duration of the contract and the terms for terminating a contract. Most standard contracts have a duration of one year. You do not want to enter into a multi-year agreement only to be unhappy with the company’s service. That’s why it’s also important to establish the terms for contract termination — in case you will need it down the line.

 

 

Ready to Search for Property Management Companies in Florida?

Finding a property management company in Florida — or any state for that matter — is not easy. The search process will really require a lot of time and effort. However, since you are entrusting your investment property to another entity, you want to make sure that you are making the right decision. The property management company will act on your behalf so it’s important to do your homework.

If you are feeling overwhelmed with the search process, feel free to browse our online directory for property management companies, HOA management companies, and real estate agents.

 

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