If you have a small piece of property that you barely use but could be used by someone else, why not consider renting it out. This way, it doesn’t just sit there wasted, and you can as well make some extra cash that could prove useful during these tough financial times. For that, you will need a San Antonio property manager. As much as not many people are advocates of property managers with most of them insisting that it isn’t worth it, we can tell you that as long as the value they bring in exceeds costs, they are good enough.
So how do you find the ideal property manager to help you find tenants for your idle property? Here are a few tips that might be of help.
The easiest and most hassle-free way of getting a good property manager is by referral. Ask people like your realtor or a friend who is in real estate to recommend a colleague to you. Such professionals within the same industry are always well connected, so you are therefore likely to get at least two or three potential candidates that you can work with. It is crucial that you make sure you ask someone who you trust.
Once you have found a few candidates you can work with, proceed to ask them as many questions as you like. If there is anything you’re in doubt about or need clarification on, this is the chance. Notice how the different candidates answer your questions. Are they cagey? Do they seem to deflect certain questions? How clear are the answers given? How they answer your questions could tell you everything you need to know. If you find that they seem hesitant or don’t seem particularly keen on clarifying specific issues, you’ll be better off working with someone else. Go for the one you feel takes time to explain every single detail.
Verify Licenses & Other Credentials
The state of Texas requires that all San Antonio property managers/management companies hold a valid real estate broker’s license or a property management license in order to show vacant apartments. It is therefore essential for the property manager you’re about to hire to have a valid license. You can confirm with the real estate commission and see if their license is still active because if it isn’t and you proceed to hire them, you will technically be breaking the law.
Negotiate the Terms of The Contract
Once you have narrowed down your potential candidates to just one, you can now come to a contractual agreement. Make sure to include all the necessary details and clarify all that needs clarification. If necessary, you can hire a lawyer to negotiate the contract because, with one, you are sure it will be airtight.
By following these tips, you are almost guaranteed to find the perfect property manager to take care of your property. Remember, you can always consult on the areas where you feel uncertain.