If you have invested in rental property, you need to hire a competent property manager to help you take care of the property. There are many firms offering rental property management Alexandria VA. Therefore, it should not be difficult for you or any other investor in the area, to find the right service provider.

Services Offered by Property Managers

The most important service offered by property managers is finding suitable tenants to occupy the vacant unit. Without tenants, a rental property should be considered a liability because you will have to dip into your own pockets to pay property tax and maintenance costs. Unfortunately, the average investor may not have the resources needed to find suitable tenants, so this is an important service. Secondly, property managers collect rent and withhold rental deposits on behalf of the property owner. They also draft tenancy agreements and ensure tenants sign them before moving in. One of the most important functions performed by property managers, however, is evicting rent defaulters. This is a challenging process that can land the property owner in legal problems if not properly handled. Fortunately, property owners have the experience, expertise and knowledge needed to get the job done properly.

Choosing a Property Manager

There are many real estate firms offering property management services in Alexandria VA. Therefore, you will need to create a shortlist of the top-ranked service providers and do a comparison to identify the best firms in the industry. Below are a few factors to consider when carrying out your research:

i) Experience

Firms that have been managing real estate for over a decade should be given priority consideration. In addition to that, the ideal service provider must have been managing the same types of properties as the ones you own. Therefore, it is imperative you do some research on the amount of experience that different firms have before making a decision. Obviously, the most experienced firms should get priority consideration.

ii) Fees

Real estate managers normally charge a fee for their services. These fees are usually deducted from the rent they collect. Since you want to get the highest possible rental income, be sure to request quotes from all the property managers on your list. A comparison of those rates will help you find the best rental property manager in the city.

iii) Guarantees

Only firms that offer guarantees on occupancy rates and rent collection should be given top priority. Ideally, you want 100% occupancy rate. You also want to get your net rental income on a certain date every month, say 10th of every month. Therefore, the ideal firm should offer these and many other types of guarantees.