The work doesn’t end with your decision to purchase an investment property (or properties). Rather, this is the time where the real work begins! Choosing a property in the right area, ensuring that the price is low enough that you can expect a high return on your investment, even hiring a maintenance crew, housekeeping, designers, and of course, someone who understands the tax consequences and benefits—it can be a little daunting when you look at the entire picture, but if you hire a property management company, chances are they will be able to take the heavy load off your shoulders and let you sit back and reap the benefits. Of course, if you choose the wrong company, they could cause more troubles than you’re willing to endure, so we’ve compiled these tips to help you choose the RIGHT property management in Stowe VT company for your investment needs!
The best place to start in almost any venture is on the internet. Simply type in property management companies in the area you are looking to buy and wait for the magic to unfold! Check out reviews, the BBB, and if you happen to have friends, family, or business acquaintances in the area, don’t be afraid to ask them if they have heard anything through the grapevine. Remember: This is your first step, so don’t automatically cancel a company out if you read a bad review. Unhappy people are usually more prone to write bad reviews, while people who are happy don’t often take the time to make their views seen. Learn more about the top property management companies for yourself!
Set up personal interviews. Your gut will usually tell you if the person you meet is a good choice, so go with it. Don’t let anyone talk you into signing anything, however, until you are 100% sure this is the direction you want to go; salespeople can be pushy!
Remember, the idea of investment properties is to make money, and if you’re being charged for every piece of paper, tissue, or even bottle of water your PMC manager offers you during meetings, chances are you your new investment will end up costing you money!
Although the internet is a wonderful invention, the company you could be considering may not live near the property you own. Why is this a bad thing? When an emergency happens at 2 AM, do you want your tenants waiting until Boston calls their people in New York, who in turn call THEIR people in Vermont, leaving your guests or tenants to wait for hours for a response? There’s too many important details that need to be taken care of right now, and that’s why we make sure to only take on clients whose properties are within a short distance of our office. The personal touch is important, and we make sure that no detail is overlooked. Give us a call today and let’s discuss your property management needs in greater detail!