How to Choose a Property Management Company

Updated July 5, 2022.

Trusting a property manager with your assets and investment income is a big step toward building your financial future! It can also be a stressful decision to allow someone else to manage your Salt Lake City properties and residents. That’s why choosing the best property manager is so important!

  • The wrong property manager can be a liability that mismanages your properties and costs you valuable income.
  • The right property manager boosts your bottom line, gives back your free time, keeps residents happy, and helps you meet your long-term financial goals!

Property ManagementLook Local

The best property manager is right here in Salt Lake! Choosing a local property manager increases the experience of these experts to make your rental properties attractive to our community of renters.

Not every rental market is the same.

  • While the primary principles of running a successful rental property business are the same no matter where you invest, a local property management company knows what’s unique about our area—and how to make your property appeal to local renters.
  • We are also up-to-date on local regulations and ordinances that govern how you can legally run your investment property business.

When looking local, seek out references or referrals from local sources, too. If you hear other property investors and the local renter community giving rave reviews about a specific property management company, pay attention! They could be the best property managers for your rentals, too.

Renters Choose Property Management, Too

Renters aren’t only looking for a home: they want property management services that meet their expectations, are responsive, and help them have a wonderful experience while enjoying life in your property. Make sure you include renter reviews of property management services during your decision-making process.

  • Word-of-mouth among renters can influence your income!
  • Terrible property management experiences will discourage renters from applying to live in your rentals.
  • However, excellent property management can help attract the best quality residents to your properties and grow your income!

Happy young couple getting keys of their new home

Make Sure They Can Work With Your Approach

How involved do you want to be with the management of your properties? Your approach should match the approach of your property managers to make sure the relationship works for your financial goals and lifestyle.

  • Do you want to be regularly involved? Make sure your property manager has processes in place to include you in the ways you want to be included. From the frequency of communication to your level of involvement in day-to-day tasks or decisions, walk through these details with a potential property manager to make sure they’re a good fit.
  • Do you want to be hands-off? Choose a property manager that you can trust to work independently while understanding and meeting your goals.

Many property investors turn to seasoned property management to regain their free time and build long-term wealth—without doing the work to make it happen! An expert, full-service property manager should listen to your goals and have the infrastructure (and expertise) to deliver what you need while you spend your time on the things that matter most to your daily life!

Don’t worry: ‘hands-off’ doesn’t mean ‘out of the loop.’ Your property manager should provide regular financial reports and consult you on all significant decisions to make sure they stay on track with your investment goals.

Confirm Their Marketing Strategies

Property management includes more than managing residents and maintaining your properties. You need a property manager that knows how to market your rentals in the Salt Lake City market successfully!

Your property can be the most well-maintained rental in the area, but if your property manager can’t effectively get the word out to find the best quality renters, you won’t make any money. Make sure your property manager markets with:

Your investment income depends on setting the best monthly rental price and finding the best long-term residents for your properties. Ask a potential property manager about their approach to rental property marketing, market analysis, setting the right rental rate, and how they target your ideal residents.

The Best Property Management Is the Right Investment

Unfortunately, you can go wrong with your choice of property management company. It’s not enough to choose a company that can handle the bare necessities of your investment property business to take some work off of your plate. Anything less than the best quality services puts your assets and investment income at risk!

Your assets, residents, and income deserve the best property management services! Reeder Asset Management has years of rental property experience and industry expertise to help property investors generate more income. We know what it’s like to be investors, so we work hard for you to protect your investments. You cannot go wrong with us!

If you’re ready to put our skills to work for you, reach out to us to begin experiencing the Reeder Asset Management difference!

Posted by:
Reeder Asset Management on September 3, 2020