Everyone has different relationship goals.
When you’re deciding what you want in a partnership with an Orlando property manager, you’ll have to think about your own investment goals and the needs of your rental property. Are you looking for higher profits, more peace of mind, better tenants, a deep understanding of the local market?
All of the above?
The relationship you establish and maintain with your property manager will impact how successful you are with your investment property. Choosing the right management company is essential, and we want to share some of the qualities you should be looking for when you choose your property management partner.
Local Orlando Rental Market Expertise
Your property manager needs to know the market. This will help when it comes to pricing, marketing to find the right tenants, and making the sort of updates and upgrades that are consistent with other rental homes in your area. Market knowledge also contributes to a solid understanding of state and local laws and regulations. You need a property manager who understands Florida’s eviction and security deposit laws.
This local experience is especially essential when you’re an investor who is out of state or out of the country. Orlando is a hot market, and you might be investing here from elsewhere. You’ll need to have eyes and ears on the ground in central Florida, ensuring your property is profitable and protected.
One of the most important qualities you need in a property manager is the ability and willingness to communicate. Even if you’re a hands-off investor who doesn’t want to be bothered with minor decisions and details, you still need to know how your property is performing. You’ll want monthly accounting statements and financial reports.
If you have a question or a concern, you’ll want those issues addressed right away. Look for a property manager in Orlando who invests in the type of technology that allows you to reach them when you need to. You should have access to an online portal, where you can get the information you need whenever you need it.
Look for a property manager who isn’t afraid to be direct and have difficult conversations. If a tenant isn’t paying rent on time, you don’t want to learn of it until it’s time to evict.
Good communication is a critical property manager quality. You need someone who is available, accessible, and responsive.
Detailed Systems and Processes
A property manager must be detail-oriented. There are a lot of moving parts when it comes to leasing, managing, and maintaining a rental property. Look for a professional who has systems and processes in place for:
- Marketing your rental property
- Showing your rental property
- Screening tenants
- Conducting inspections
- Responding to maintenance
- Managing tenants
- Enforcing the lease
- Collecting rent
- Handling renewals and turnovers
Look for a property manager who cares about your property. You want someone with experience and accountability; an investment professional who understands what you’re hoping to achieve and how you want to grow.
We’d love to talk with you about our property management services. If you’re looking for a management partner with all the right qualities, please contact us at Park Avenue Property Management. We lease, manage, and maintain residential rental homes throughout central Florida, including Orlando, Lake Buena Vista, Kissimmee, Celebration, Maitland, Altamonte Springs, West Palm Beach, and Tampa Bay.