BEST WAYS TO ASSESS A PROSPECTIVE PROPERTY MANAGER: Landlord Tip #1

WE ASKED THREE NEXUS GENERAL MANAGER'S WHAT SEPARATES THE BEST PROPERTY MANAGEMENT COMPANIES FROM THE REST:

There are a lot of property management companies out there vying for your business but how can you really get a sense for which one is the best fit for you? Hopefully you're doing your homework by reading Google Reviews (the good, the bad, and the company's responses) and lining up interviews. Asking for references can be helpful too. But as is the case with any big decision, it's always helpful to have a couple specific expectations in mind. Here are three items our Nexus team felt should be at the top of your list:

1. ARE THEY OPEN AND RESPONSIVE ON SUNDAYS AND HOLIDAYS?

Mick Lefort is the general manager of our Connecticut office and he felt it important to ensure you're hiring a property manager that is open 24 hours a day, 7 days a week. It's very easy for a company to post that on their webpage and on their Google Business Page, but go ahead and give them a call during the NFL games on Sunday, or on Labor Day when the kids are home from school with nothing to do. If you call and get an automated third party, or no response...what do you think is going to happen when your tenants call with an important issue?

https://youtube.com/shorts/vRn2txh7ODg?si=XzaZs3NiHrPOBjy4

2. WHAT KIND OF PERSONAL PORTFOLIO DO THEY HAVE?

Jesse Mayo is the general manager of our Worcester, Massachusetts office and he suggests you ask the property manager you're interested in working with what their experience is with their own properties. If they're not the owner of at least one multi-family building and don't have a couple buildings under their belts, how are they truly going to be able to put themselves in your shoes when it comes to decision making and communication. On the flip side, do they own 100s of units and have really set up this property management company to service their own properties, leaving yours to get a little less TLC.

https://youtube.com/shorts/IsS3h6ovYy0?si=UiQT53_FaqHPHFlx

3. DO THEY HAVE AN IN-HOUSE MAINTENANCE TEAM?

Greg Rice is the general manager of our Rhode Island office. For over 14 years, Nexus has differentiated ourselves from local competitors by employing an in-house maintenance team that answers to our Maintenance Director. This provides us with flexibility and a nimbleness that property managers who simply coordinate with local vendors and handyman just don't have. Your property has hardwired smoke alarms going off across three floors, the fire department tells you they're defective and need to be replaced...you need someone who can get out there right away.

CONCLUSION AND NEXT STEPS:

Nexus Property Management® has been partnering with rental property owners for over 14 years and now has franchise offices in four states. We are committed to the principles that helped our Rhode Island office grow rapidly and the most essential is the focus on long term results. Our clients come to us with varying degrees of experience and the vast majority become effective investors in no time. Reach out to the Nexus team closest to you.