What to Look for In a Property Management Company in Pittsburgh, PA
Property managers often get a bad rap. Why?
Because until recently, the work of a property manager wasn’t taken seriously.
The industry was undeveloped and there wasn’t a lot of training and technology, which led to distrust and bad practices.
But, things are changing.
There’s been a lot of innovation and investment in the property management field, and the best property managers today are doing a lot more than collecting rent and placing residents. We’re managing assets.
1. Property Management Experience and Expertise
You’ll want to know how long a property management company has been in business, and you’ll need to know where their strengths lay.
Don’t hire a management company that specializes in commercial properties and apartment buildings when you’ve got a portfolio of single-family homes.
Find out where their properties are located, and where they keep offices – this will tell you if they really understand your market.
In Pittsburgh, each neighborhood can feel like its own micro-economy; you need a manager who understands the residents, the rental values, and the real estate trends in each specific community.
2. Ask About Property Management Fees
Ask how much their services cost, what you get in exchange for those fees, and how they’re paid.
Most managers will take a percentage of the collected rent, while others will have a flat fee.
There is no one way to collect fees, but you need to know what they are and how they’re structured.
Make sure that you’ll receive an accounting statement with every rental payment so you can see where your money was earned and spent; a good property manager will be able to explain what the rental collection process is, and how you’re paid.
3. Rental Property Maintenance and Repairs
You don’t want to hire a property manager without knowing how they handle maintenance.
A good management company will have a process in place for routine and emergency repairs – find out what it is for the company you’re interested in working with.
Ask questions vendors – where do they come from? Are they in-house vendors or do they outsource the work? How are vendors selected?
Another important question to ask – are the vendors licensed and insured?
An important point to note is that you don’t want anyone who isn’t licensed and insured working on your property. Not only do you risk low quality work, but you also bring a lot of liability onto yourself.
You’ll also want to know how maintenance is paid for.
Do you need to have a reserve fund? Are repairs paid for and then deducted from your rent payment? How much is spent without your approval and what types of maintenance will require your approval?
Look for a management company that can answer these questions, explain their process, and help you see how it protects the condition of your investment.
4. One Manager vs. Management Team
Small businesses can bring a lot of value to the clients they work with; however, when you’re leaving one of your most valuable assets in the hands of a property management company, you want to make sure you have access to a team of experts who can handle every aspect of your property without easily getting overwhelmed.
You’ll need leasing specialists, maintenance experts, and asset managers who can help you make decisions that increase the amount of money your rental property earns.
Find out who will be responsible for what when they’re managing your home.
Arbors Management is Your Solution
When you’re looking for a professional Pittsburgh property management company, look no further than Arbors Management.
We are the premiere property management company in Pittsburgh, Western Pennsylvania, and West Virginia, managing over 4,000 units.
We also have a dedicated staff of over 100 employees. All of our team members are trained on best practices and provide full service management and exceptional customer service.