How I Pick and Hire Property Managers

by Steve Lee
(Surrey, GB)

When it hiring property managers, it bothers me that some people can hire a property manager based on the fees alone. From my years as a landlord, I find hiring a reliable property manager is almost as important as buying the right rental property.

As long as the fees are reasonable (5 to 10% of the monthly rent), the experience and dedication of a manager are way more crucial for me.

Hands-on experience is a must have for me. Property management requires a whole range of skills that can only be acquired from actual experience so my manager needs to be at least 3 years of experience managing rental properties in my area.

What separates a part timer from a dedicated professional is whether the real estate manager has a highly organized system for managing your rental property.

After viewing your property, he should hand you a written proposal containing details on how he plans to run it. While this is optional for a single family home, it is a must for larger rental properties.