Charlotte is one of the fastest-growing cities in the nation, making it a great place for property investors to expand their portfolios. However, pandemic-fueled market upsets have also fueled a competitive rental market.
If you're struggling to make the ROI you expected, it may be time to call in the professionals. A property management company can boost your marketing, tenant selection, accounting, and more.
How can you find the right property management company for the job? Read on to find out.
Determine Your Needs
Some landlords only need help with a few key services. For example, they may want to outsource tenant screening but have no problem keeping up with property maintenance. Others with low tenant turnover may not want to invest in tenant screening or marketing but need assistance with accounting.
Accidental landlords and out-of-town investors, on the other hand, may need full property maintenance services. Make sure you know what you're looking for before you start your search for a property management company.
Assess Services Offered
Knowing what you need will make it easy to assess if a company offers the services you need. For example, at Carolina Property Management, our services include:
- Marketing
- Tenant screening
- Rent collection
- Maintenance
- Financial reporting
- Pricing
It's also crucial that you have realistic expectations. For example, while property managers can manage your finances, they don't pay out of pocket for maintenance and other costs. Even with property managers, you'll still need to reinvest in your property to get the best results.
Check Out Online Reviews
Looking at a property management company's website can tell you a lot about what they do. Reading online reviews can tell you more about how well they do it.
Before you start reaching out to different companies in Charlotte, read reviews to see what previous clients have to say. Keep in mind that one or two critical reviews don't negate dozens of great reviews. If the reviews sway more negative than positive, however, it's likely that the company doesn't deliver on its promises.
Conduct Interviews
Once you have a few different companies in mind, start scheduling interviews. Talking to property managers directly will allow you to decide if it's a good personality fit. It will also give you the chance to ask some important questions.
Property managers should have up-to-date knowledge of North Carolina tenant and landlord laws. They should be able to walk you through the strategy they would use to improve your ROI.
Need a Charlotte Property Management Company?
Charlotte is bustling with renters, but you're in competition with other long-time and new rental property investors. If you aren't seeing the results you expected or you're looking for a more passive source of income, a Charlotte property management company can help.
Carolina Property Management has been building a strong reputation among property investors and renters since 2008. Under the leadership of Nancy Braun, we've become one of the leaders in cutting-edge property management technology and strategy. Get in touch and let us know how we can help.
