What Makes a Good Property Management Team?

If you didn’t know any better, you might believe owning rental properties was an easy job offering nearly unlimited profits. All you have to do is find a tenant, place them in your investment property, and collect the monthly payments. However, if you’ve ever managed a rental property before, you know how difficult the job really is. Finding great tenants is hard enough. Beyond that first big task are so many more responsibilities requiring specific expertise to do correctly. It’s no surprise, then, that many DIY landlords turn to a professional property management team for help. But suppose you’re a DIY landlord who’s tired of handling the details themselves. What qualities should you look for when searching for the right property management team to take over?

Attention to Detail

You’ve probably heard the phrase the devil is in the details. Well, it’s an excellent description of the challenges of property management. That’s because the smallest elements, like a leaky faucet, missed background check, or incorrect tenant communication, can cost you big. When searching for your new property management team, you’ll want a group that keeps its eyes on even the most minor issues. So, ask about their organization strategies and customer and tenant communication practices. Also, pay attention to how they respond to your inquiries and answer your questions. These details will tell you a lot about how they handle their details.

Best-Practice Knowledge

There are industry best practices that a top property management team will know and follow. These could include inspection practices, tenant communication cadences, and other details that professionals understand best. Property management teams learn these best practices by belonging to industry trade groups, trading information with their peers, and consulting with legal experts. When interviewing property management teams, ask them about their industry involvement and how it informs their daily work.

Understanding the Legal Landscape

Another significant challenge for rental property management teams is understanding the often complicated legal landscape governing landlord-tenant relationships. These rules often lean heavily in favor of the tenant — particularly here in Oregon. They also carry significant penalties for landlords that ignore them. For example, Oregon property management teams should understand the state’s rent control laws. The regulations place a cap on annual rental increases and bar many no-cause evictions. The state also recently passed a tenant right to air conditioning rule that landlords must follow.

Here in Portland, property management teams should also understand the city’s unique screening laws along with its mandatory Landlord Relocation Assistance rules that require landlords to fund their tenants’ next move under certain circumstances. These laws all carry heavy financial penalties for landlords who ignore them. That’s why an excellent property management team uses its legal resources to stay on top of these regulations to ensure they’re always following the law.

A Customer-Centric Approach

Of course, a great property management team will also deal extensively with tenants. Landlords see it all, from collecting rent to fielding repair requests to handling disputes between renters. That’s why you want your next property management team to demonstrate a solid customer-centric approach. This isn’t to say that your property managers should adopt a “customer is always right” mentality. Instead, they should be able to demonstrate that they treat tenants with respect and professionalism during every interaction — particularly the challenging ones. Tenants who feel respected and heard by their property managers will be more likely to become long-term residents. And, avoiding excessive turnover is what every property owner wants most. So as you’re interviewing potential property management teams, ask them about their tenant communication philosophy and how they execute it in their daily work.

Built-In Partnerships

Another benefit great property management teams bring is built-in partnerships. If you’ve ever tried to find a reliable plumber, roofer, or handyman, you’ll know just how valuable this service can be. Property managers build relationships while doing their work and should have a list of vendors at hand that they can call for emergencies or just everyday maintenance. Not only will these built-in partnerships allow them to complete repair requests faster, but they will also ensure that the work is done well. Additionally, this prompt, high-quality work will please your tenants and keep your property healthy over the long term.

Choose Rent Portland Homes by Darla Andrew

Now you could make appointments with the leading property management teams in Portland and ask interview questions to determine just how good they really are. Or, you could hire Rent Portland Home by Darla Andrew. Our team has more than 30 years of property management experience, which we use to serve our customers. We’re experts in Oregon landlord/tenant laws and follow those rules strictly. Over the years, we’ve also built a team of more than 100 vendors who can help with tasks like carpeting, roofing, of whole-home remodels. Most importantly, we keep our eyes on the details to ensure our customers have all their bases covered.

If you’d like to meet our property management team and learn more about the services we offer, we’d love to talk. You can call or text Darla directly at 503.515.3170 or fill out the contact form on our webpage, and we’ll get back to you right away. Property management isn’t for everybody. However, those challenges don’t have to stop you from enjoying the rewards of owning a rental property. Instead, partner with an expert who will handle the most challenging parts of the job so you can focus on maximizing your investments.