Did you know that over 40 million properties across the U.S. are rentals? Most property owners want to earn passive income from their rentals. But they can't reach that goal without effective property maintenance services.
Property maintenance allows owners to profit from their property without lifting a finger. But hiring the wrong property maintenance service could ruin your rental business.
This guide presents five factors to consider when choosing property maintenance services so that you can make an informed decision. Keep reading to learn more about selecting an effective rental property maintenance team to support your rental business.
1. Ask for References
If you own rental properties, you may belong to a network of other property owners. Lean on your network and ask them for advice. Asking about the quality of their services can help you narrow down your choices.
However, even those new to renting can rely on the community. Reach out to online groups in forums, such as Reddit, that discuss local Miami property maintenance companies in your area. Their opinions can provide valuable insights into what services suit you.
2. Research Each Potential Service Provider
When choosing property maintenance services, you must do your due diligence. Start by reading online reviews of potential companies. Use this review process to check references and compare property maintenance costs.
Moreover, many companies publish online portfolios and client testimonies. Reading these can give you a better idea of the quality of the company's work. Their website should also provide information about their current insurance coverage and licensure.
3. Assess Your Needs Against Services Rendered
Choosing property maintenance services should include understanding what services you need. Not all property management service providers offer the same services. Some common services included in a property maintenance routine include:
- Indoor and outdoor maintenance
- Pest control
- Rent collection
- Accounting services
Don't overpay for services you don't need. Likewise, don't choose a budget property manager and get in over your head, picking up the duties their services don't cover. Try to find a property management company that caters to your needs.
4. Consider Your Budget
Before deciding on a property management service, assess your budget for these services. Property owners set aside anywhere from 5-15% of the rent for these services. But this can vary depending on the scope of the services required. Some can afford higher property maintenance costs for a high-value property.
Consider your budget for these services and compare it to your shortlist of property management companies. This will give you an idea of which company will work best for you and your budget. Also, ask about any discounts available and factor those into your decision-making process.
5. Choosing Property Maintenance Services After Consultations
After researching and comparing services, you should narrow your list of potential providers to a few options. The next step is to schedule consultations with the companies on your shortlist.
Take opportunities to ask questions that you couldn't get answered during the research phase. Ask about the property manager's industry experience, skills, and expertise. You can also use the consultation to get a solid quote for services rendered at your property.
After the consultations, you'll have enough information to make choosing property management services a breeze. Rank your shortlist and choose the best-suited company for your needs and budget.
Miami Property Management
Choosing property maintenance services has never been easier with Pristine Property Management. We are the premier choice for property management services in the greater Miami area.
Our reputation for customer service and proactive property management means you can trust us with your rental. We handle all your property management needs, from tenant screenings to eviction protection.
If you're looking for property management in Miami or the surrounding areas, contact us today for a free consultation.