Landlords – are you looking to make a truly passive income from your rental properties? You need to work with a property manager!
Over 364,000 people work in property management across the country. Finding the right property management company can be a challenge. But property management reviews can help to separate the best from the rest.
Let’s take a look at how to read them so that you can find the right company for your property.
Property Management Reviews – Who Writes Them?
Property management in Tucson allows you to have a professional representing you. They communicate with the tenant and act as a go-between.
You don’t need to have a personal relationship with the tenant. This also allows you to potentially own multiple rental properties while maintaining your day job.
You pay the property management company, but it’s often tenants who write reviews. Tenants may leave negative reviews because the property manager was enforcing what the landlord wanted them to do!
How to Read Negative Reviews
Disgruntled tenants may leave one-star reviews. This could be because the landlord wouldn’t sign-off on upgrades or maintenance they feel they need. Sometimes, people leave poor reviews because they were denied the opportunity to rent the property.
It’s important to take some reviews with a grain of salt. Look for reviews that provide genuine feedback about the company. You’ll quickly spot those whose beef is really with the landlord!
Landlord reviews often give you a greater insight into the company. Do you pick up certain themes as you read them? Pay close attention to:
- Communication with landlords
- Communication with tenants
- Promptness of payments
- How promptly repairs are carried out
- Property marketing
Property management reviews can help you identify companies that excel or fail in these key areas. But also consider the timing of the reviews. The pandemic and periods of recession typically attract a higher number of negative reviews as people struggle to make ends meet.
Of course, no company is perfect. But you can learn a lot from how they follow up online reviews.
Do they provide feedback? Do they offer to contact the landlord/tenant to resolve their concerns? Companies that do this show they truly care about customer service.
Quality and Timing of Reviews
Some review sites allow you to leave a star rating with no comments. Sure, lots of four and five start ratings might look great, but what do they actually tell you about the company?
You could also find yourself reading reviews that are years old. Lots could have changed in the intervening period. A staff member who was letting the team down may now have moved on.
Look out for long periods with no reviews. Could it be they were discouraging tenants and landlords from leaving reviews?
Find the Best Property Management Company for You!
Property management reviews can be a helpful tool. But always read them with caution. Negative reviews may not always be what they seem.
When choosing a property management company, start by taking a quick look at their reviews. But always undertake other research before making a final decision.
If you’d like more great hints and tips on how to maximize your investment returns, head over to our Business and Finances section today!
