Handing over the reins, or the keys in this case, of your rental property to a professional is a big step in your investment journey. But when you find the right property manager, they become an indispensable partner who can save you time, ease your stress, and keep your rental running smoothly.
Finding a reliable property manager isn’t always straightforward. With so many different services, platforms, and directories available, it can be overwhelming to know where to focus your efforts and how to narrow down the best fit for your needs.
In this article, we’ll walk you through the process of finding the right property manager. By the time you finish, you’ll feel confident in selecting a property manager who’s the perfect match for your investment.
Full-Service vs. Partial Service Property Management
Figuring out what you need from a property manager is a crucial first step. It helps you narrow down your options and avoid wasting time and money on services you don’t need.
Some landlords only need assistance with specific tasks, like tenant screening, marketing the property, or drafting a lease. That’s where partial services, sometimes referred to as à la carte services, come in. You can pick and choose what you want help with while managing the rest yourself.
When Partial-Service Property Management Works Best
À la carte property management is often best for the following types of landlords.
-
Local landlords who have the time to oversee day-to-day operations.
-
Hands-on investors who enjoy being involved in property management but need help with specific tasks, like legal paperwork or finding tenants.
-
Owners of single properties who don’t have to juggle multiple tenants or units.
On the other hand, a full-service property management company handles everything, from filling your rental with tenants to rent collection and coordinating maintenance. It’s the ultimate hands-off experience.
Benefits of Full-Service Property Management
Full-service rental property management may be best for the following.
-
Long-distance landlords who can’t check on the property regularly.
-
Time-strapped owners with other obligations, like a full-time job or multiple properties.
-
Investors with large portfolios who need streamlined, professional management to maximize ROI.
See: When Does It Make Sense to Outsource Property Management?, to see if outsourcing could be beneficial to you.
Local Property Manager vs. Large Property Management Company
Should You Use a Local Property Manager or a Large Property Management Company?
You’ll also need to decide between a local mom-and-pop company or a larger property management company. Each has its benefits depending on your needs.
Advantages of a Local Property Manager
Mom-and-pop managers may offer personalized service and local market knowledge, which makes them a great choice for smaller communities. However, they may have fewer resources and connections and less reliance on tech tools like online portals or automated reporting.
Benefits of Working with a Larger Property Management Firm
Larger property management companies, on the other hand, often use tried-and-tested processes and technology to stay efficient, with specialized teams to cover every aspect of management.
The best option for you will depend on your needs and preferences. A mom-and-pop manager might be the right fit if your properties are in a tight-knit market. But if you have properties across states or need advanced tools, a national company could better meet your needs.
8 Ways to Find a Good Rental Property Manager
There are a number of different ways that you can find a property manager. Here are eight different ways that you can go about doing so.
Start With Your Network
Finding the right property manager starts with knowing who to ask. Often, your best resources are closer than you think. While a strong referral is worth its weight in gold, remember that your needs might differ from the person giving the recommendation. Always vet any property manager thoroughly before making a decision.
The people who’ve walked in your shoes are often the most reliable guides, so look to fellow landlords for tips and experiences. Talk to landlords with properties similar to yours, especially in the same area or property type. They can provide insights into which managers deliver and which to avoid.
If you’re already working with a real estate agent or broker, they’re a natural starting point for referrals. Many agents collaborate with property managers as part of their client services and can recommend managers they trust. Ask your agent if they’ve worked with property management companies specializing in single-family homes or similar rental markets. Their insider knowledge can save you time and effort.
Search Online for Property Management Companies
Some focused searching can reveal many options and reviews, helping you make the best choice.
Consider using specific search terms such as the following:
-
Property manager for single-family rentals near me
-
Top-rated property management companies in [city/state]
-
Affordable property managers for landlords in [region]
Look for results from property management companies’ websites, review platforms, or local business directories. Include terms like “single-family homes” or “residential property” to refine your search and find specialists in your niche.
Renters Warehouse specializes in single-family rental management. Read more about our 24/7 hassle-free property management services.
Look Up Professional Associations for Property Managers
Professional real estate associations are a great place to find experienced, certified property managers. Many of these organizations have online directories, making finding qualified managers who meet high standards convenient.
Some trusted options include the National Association of Residential Property Managers (NARPM), which has an online directory of certified property managers across the U.S. You can filter results by location and specialty to find the best match for your needs. Similarly, the Institute of Real Estate Management (IREM) offers a directory that helps you connect with Certified Property Managers (CPMs) who adhere to rigorous professional standards.
Search Online Communities and Social Media
Don’t underestimate the power of online communities and social media when searching for a property manager. Forums like those on real estate sites or Reddit (such as r/Landlord or r/RealEstate) are packed with discussion threads where members openly share recommendations and cautionary tales about local companies. These spaces are great for getting unfiltered, real-world advice from fellow landlords.
Social media can be just as useful. Local landlord or real estate Facebook groups often have members eager to recommend trusted professionals or share their experiences. On LinkedIn, using hashtags like #PropertyManagement or #RealEstateInvesting can help you find industry experts or join conversations that are happening in your area.
To take it a step further, search for keywords like “property manager in [city/state]” or hashtags like #RentalHelp or #LandlordTips to discover niche groups or discussions. Engaging in these spaces can give you valuable insights and maybe even lead you to the perfect property manager for your rental.
Tap Into Local Resources
While the internet is a powerful tool, don’t overlook the value of good old-fashioned offline resources. Local connections can lead you to boutique property managers or local professionals who may not have a huge online presence but offer exceptional service. Check out bulletin boards at local libraries, coffee shops, or community centers for ads or business cards from property managers.
Consult Local Business Associations
Your local Chamber of Commerce or similar groups are hubs for small business connections. Many property management companies are active members of these organizations; checking their directories or attending events can yield strong leads. Ask for recommendations from other business owners, who’re often well-connected and happy to share trusted contacts.
There are many advantages to working with a property manager. See: 11 Benefits of Hiring a Property Manager to learn more.
Check Local Real Estate Publications
Real estate magazines, newspapers, and newsletters are still relevant and valuable resources. Browse classified ads or sponsored listings for property management companies specializing in your area. These publications often highlight professionals deeply involved in the local scene and could be potential candidates for managing your property.
Participate in Real Estate Meetups
Networking events are not just for investors; they’re for finding management professionals, too. Look out for seminars, workshops, or meetups hosted by property management companies. These events are excellent opportunities to meet managers face-to-face and discuss potential partnerships in a relaxed atmosphere. You can use Meetup.com to find local events where you can find other real estate insiders.
Questions to Ask When Interviewing Potential Property Managers
Once you have a potential property manager in your sights, you may want to ask them some questions to determine whether they are a good fit for your property.
Key Questions to Ask Property Management Firms
We know you probably don’t want to add another task to your already long to-do list, but a thorough interview is your chance to ensure that the property manager treats your property with the care it deserves. An interview allows you to ask detailed questions, get a feel for the candidate’s communication style, and watch out for any red flags. Putting in the effort now to vet each candidate thoroughly will save you time, money, and stress in the future.
First, create a shortlist and narrow your options to three to five candidates. Next, schedule an interview. Whether in-person or over a video call, this allows you to assess their professionalism and get answers to your questions.
Here are some examples of questions to ask during the interview.
-
What’s your experience managing single-family homes or properties like mine?
-
How many properties do you currently manage?
-
What’s your process for tenant screening? Do you check credit, employment, and rental history?
-
Do you have an in-house maintenance team or work with contractors?
-
What’s your average response time for maintenance requests?
-
How do you stay up-to-date on local landlord-tenant laws?
-
Have you ever handled an eviction? What’s your process?
-
Do you offer online services for tenants and landlords, such as rent payment and maintenance requests?
-
Can you provide a detailed breakdown of your fees?
Red Flags to Watch Out For During the Interview
Watch out for vague answers. It could be a sign of inexperience if they avoid specific questions or seem uncertain. Are they iffy about giving references? A reliable property manager should have no problem sharing feedback from satisfied clients. Also, keep an eye out for hidden fees or overly complex contracts. Ambiguous terms or unexplained charges are also red flags to watch out for.
Vetting Your Final Property Manager Choices
The interview isn’t the end of the process; it’s just one piece of the puzzle. Before making your final decision, look closer to ensure you choose the right fit. Start by checking references. Talking to current or past clients and tenants can give you a clear picture of how the property manager operates. Next, if possible, visit some of the properties they oversee. Are they in good shape? Do the tenants seem satisfied? A quick chat with tenants, if possible, can offer valuable insights.
Verifying Licenses and Insurance
Make sure to verify their licenses and insurance to confirm everything is up to standard. Finally, assess their local market knowledge. A great property manager should know your area like the back of their hand. Taking these steps now can make all the difference in finding someone that is indeed the right fit for your investment.
Finding the right property manager can feel like a big task, but taking the time to do it right is worth it. After all, they’ll be handling many aspects of your investment, so finding someone you trust is key to making your life easier and helping your investments thrive. By figuring out what you need, researching, and asking the right questions, you’ll be ready to choose someone who truly fits your goals. With the right manager by your side, you can relax knowing that your rental investment is in good hands.
A property management plan is essential, and we’ve got a FREE property management guide to get you started with our free guide Managing Rental Properties: Free Guide for Landlords to Maximize Success. Renters Warehouse can also help you streamline the day-to-day tasks while you focus on growing your investment. Start today with our FREE rental price analysis tool.
Back to Posts