Whether you own an individual residential rental property or an apartment complex, there’s a lot to keep track of. Hiring a professional manager will eliminate some of your headaches and save you time that you can devote to other aspects of your business. However, you’ll need to choose a property management company that meets your needs and can handle all of the responsibilities and costs associated with renting out your property.
Great property management Great property management in your area in your area will provide comprehensive solutions that cover every aspect of your investment including leasing, vacancy, maintenance, tenant management, and reporting. Some companies offer more extensive services than others, so it’s important to do your research before choosing one. Here are a few tips to help you find the right company for your needs:
Look for a property management firm that is locally focused and can provide detailed knowledge of the local market. A firm that is local will be able to quickly and efficiently address any issues that may arise in your property. They can also ensure that your property is compliant with all relevant laws and regulations. Additionally, they can provide you with more reliable and consistent rental income because they have a deeper understanding of the local rental market.
Make sure that the property management company you select is licensed and insured. This is vitally important to protect yourself from liability in the event of any damages or violations of your lease agreement. You should also ask potential managers for references from other property owners or managers that they’ve worked with in the past. You should be able to get an idea of the type of work that they have done and how effective they have been.
The best property management firms will have an excellent track record of meeting client expectations and managing properties effectively. You should also ask the firm what fees they charge for their services and how much experience they have with different types of rental properties.
A good property management firm will be able to manage both residential and commercial properties of any size and scope. They will be able to work with you to determine your investment goals and create a plan for reaching them, providing you with the most profitable return on your investment. They will take care of all the details from beginning to end, including marketing & showings for your rental property, screening for things like rent history and proof of income, custom lease drafting in full compliance with Landlord-Tenant law, security deposit management, and rental collection, among other services.
AKAM has decades of real estate brokerage and property management experience working with New York City investors & tenants. They specialize in overseeing the day-to-day needs of residential rental properties as well as condos & co-ops. Their solutions for daily management include inspections to identify and resolve problems before they become expensive repairs, on-call maintenance handling to reduce expenses, staffing to maximize your income, financial management to simplify budgeting & taxes, and board-related services to help you maintain a quality standard in your community and grow your profits.