Avoiding Bad Property Management Companies in Orange County

Posted: May 4th, 2010  

As a property owner or landlord, a property management company can be your biggest asset. However, the same way a professional property management service can prove be quite efficient and profitable, it can also be the exact opposite if you do not take the time to make sure you are hiring the right company for your specific needs. Here are a few tips that will help you avoid hiring a bad property management company in the OC:

  1. The first thing that you should always do is identify which services are most important to you. Most investment home owners expect a property management company to collect rent, handle tenant communication and schedule repair services. However, you may have certain preferences for how other aspects of property management are handled. For example, do you want your property manager to pay your property’s expenses from the rent they collect? Or would you rather maintain those payments yourself? Do you prefer printed reports and mailed checks or online reports and direct deposits? It’s important you work with a property manager who’s flexible and receptive to your ideas and preferences.
  2. Once you have found a specialized property management company that you think will be a good fit with your property, be cautious before signing a contract right away. Checking references and talking to other property owners that are currently using their services is crucial to making the right choice.

Once you have checked references, if everything checks out, here are a few other things to consider:

  • Is the property management company licensed in California?
  • Is the company insured?
  • How are tenant complaints handled?

It’s also always a good idea to go with a property management company that provides detailed monthly reports. This will greatly cut down on the time you spend micro managing and are always a sign of a good property management company.

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