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4 Key Things to Look for in a Property Management Company

Are you thinking of hiring a property management company? Qualifications, systems and accounting procedures can vary widely from company to company. Here are four key things to look for.

 
Transcription

If you decide to hire a property management company, what should you look for? There are many factors to consider, but here are four of them.

  • Firstly, there are many types of property management companies. Some specialize in:
    • Commercial management; for office building, industrial structure, retail space
    • Residential property management
    • Strata property management

If you own commercial property, you definitely want an experienced commercial manager.

  • Secondly, you need to make sure that your managers are licensed. A licensed agent will give you protection in many ways. A lot of managers also have additional qualifications. These qualifications illustrate their commitment to the industry, and their level of professionalism. Licensing is done through the:
    • Real Estate Council of BC
    • Certified Property Manager
    • RI Designation
  • Thirdly, make sure that the company has industry specific software and other systems to deal with your properties and other relevant information that is important to a landlord. These systems will track:
    • Rent increases
    • Due dates
    • Lease expiry dates, etc
  • And lastly, you want to make sure that the company has a dedicated trust account in your name, and all your rent goes into your account.

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If you’d like to see what a client-focused property management company can do for you,
please contact our office at 604 873 8591.