10 Core Values to Look For in a Property Management Company

10 Core Values to Look For in a Property Management Company

property management company

If you’ve already decided to rent your home instead of selling it, chances are you’re on the lookout for the best property management company in Colorado Springs. If so, then this article is for you.

 

We get asked all the time about what people should look for when choosing a property management company, and we always tell them the same thing: look for a company that cares about your property as much as you care about your property. If you do that, you’ll be fine.

 

But what does that look like to the average homeowner who may not be familiar with real estate? Here are a few things that should help you make your decision.

 

  1. Communication

 

A truly great relationship can only exist if you and your property management company have a great working relationship, where you speak of your concerns openly and they address them honestly. Moreover, you want a company that will not only keep you up-to-date with any relevant information on your home, but the occupant as well. The last thing you want to have happen as an owner is to lose a client simply because they weren’t made aware of something, which can damage your reputation and make it harder to find future renters.

 

  1. Respect

 

The best property management company in Colorado Springs (and everywhere else, for that matter) will be respectful of your home and of your time. When you set up an appointment with them, do they keep it? When you call with valid concerns or questions, are they available? Do they treat your property with the same care that they would one of their own? If not, it’s best to keep looking.

 

  1. Motivated

 

Since you most likely won’t be living anywhere near your home once you sell it (and even if you are, you won’t be driving by every day), you want to find a company that will be proactive when it comes to keeping your house in tip-top shape. You shouldn’t have to ask the management company seven times to fix a leaky faucet; if they hear of something amiss, it’s their responsibility to fix it promptly and efficiently. Even more, they should continually look for ways to improve. That’s what you’re paying them for, after all.

 

  1. Ownership

 

Your home is still technically your home, and leaving it in the trust of someone else can be a worrisome experience. For that reason, your property management company should do everything they can to alleviate your worries and concerns. Make sure they keep a sense of optimism about your house and the tasks required to maintain it. A company that takes ownership of your house will be committed to excellence in all things, over-delivering on their promises and being a genuine joy to work with in all aspects of their management.

 

  1. Experienced

 

How much of a track record does the company have in managing a property in your area? Do they understand the unique challenges that each home can bring about, regardless of home age or type of client? Are they firm on rent collection and making sure that their clients hold true to basic requirements of their house? An ideal company will not only be well-versed on what it takes to successfully manage properties but will also have viable experience and expertise regarding a host of different matters that could arise.

 

  1. Customer Service

 

While you want a company to treat you with respect and understanding, you also need to make sure that that respect and attention to detail extends to their customers as well. Check the online reviews for the individual company and see what the average person has to say about them. If you see comments that disparage the company’s reputation, then you know that future customers are seeing it too, which could mean a loss of revenue for you.

 

  1. Growth-Oriented

 

With the influx of new digital tools that are available at business owners’ fingertips, there’s no excuse for companies today to not embrace them in order to grow their business. Your property management company should be active on Facebook, Twitter, or Instagram, showing pictures of the properties and interacting with customers. If they don’t have that, they should at least have a good-looking website that attracts customers rather than repels them. Make sure that they care about growing their business, and in turn, your business.

 

  1. Conflict-Resolution

 

How effective is the company in addressing customer complaints and holding their maintenance team responsible for the repairs that they perform? If a company is lackluster in their ability to handle a legitimate issue politely and efficiently, customer relationships will sour. You want a company that can handle these issues with confidence and simplicity.

 

  1. Polite

 

In times like these, a simple “hello” when you enter a room and a “thank you” as you walk out the door is a lost art. The best companies are those who take the time to appreciate each customer with respect, so investigate to see if your company has those supposed “old-timey” values that still matter. If they know their customers and address them by name, it will help get any conversation off to a good start.

 

  1. Integrity

 

Of all the items on this list, this is by far the most important one because it speaks to the company as a whole. The best property management companies don’t make excuses for their behavior, are completely transparent with every issue that may arise, and are not hypocritical about what they say they stand for and what they actually stand for. This extends beyond just their relationship with you, however. Make sure that they are diligent in conducting application screenings to verify that the renters who will be living in your home meet proper standards. Some companies overlook this in an effort to make more money, but the best ones follow company standards and the law to the letter.

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