A lot of times, landlords and owners looking for Fort Worth property management services will ask first about the fees that are involved in professional management. This is troubling because a landlord or a real estate investor should be asking about services first. You don’t want to spend only five minutes talking to a property manager, because then you aren’t going to get any information except for maybe what it costs. Today, we’re talking to you about the question you should be asking when you are looking for help with your Fort Worth investment.
When you contact a property management company, ask questions about the services they provide. An even better question is: Walk me through the first 90 days of our relationship. That will allow you to capture the processes involved in the management of your rental home.
You should hear how a property manager will onboard your property, which is really detailed. It involves pricing and inspections, and hearing about the process can really give you an idea of what your manager will do to get that property ready for rent. It will also uncover the leasing process. A lot goes into leasing. You’ll want to know where the property will be advertised, how and when will pictures be taken, and other things that go into leasing.
A landlord will also want to uncover what goes into the tenant onboarding process. Once an applicant is ready to go into your house, how does your property manager qualify the tenant and assure you that it’s a good one? They also need a process for letting tenants know where and how they pay rent every month. Some of the local Fort Worth property management companies we compete with don’t have physical locations. That makes it very difficult for some tenants to pay. At Frontline, we have about six different ways that people can pay rent, including online and at our drop box. Understanding owner distribution is also critical; how and when do you get paid?
All of these questions are important, so instead of asking about fees, ask about the cycle for 90 days of management. If that business development person cannot articulate systems, it’s probably not a good fit for you. Once you’ve discovered what happens in the first 90 days, ask about fees and match the fees to the services. You really do get what you pay for with property management in Fort Worth.
Please contact us at Frontline Property Management, and we’ll tell you about what you can expect as a real estate investor in the first 90 days of working with us.