Finding the best property management company for your building can be a daunting task. And while at first glance they may all seem very similar, there are some important factors that make some property management companies better than others. Follow the tips below when consulting with a property management company to make the best decision for your community.
Know Your Needs
First and foremost, you should determine your needs. Make a list of the services you are looking for in a management company before starting your search. It’s best to accomplish this together with your fellow board members, so make sure to schedule a meeting to discuss this.
Ask How Long They’ve Been Managing Properties
Property management companies come and go. Finding one with some longevity means that they are more likely to stick around and bring some experience into the deal.
Ask How They Handle Maintenance
Maintenance issues and emergencies happen all the time. An outstanding property management company will have procedures in place that define how they’ll respond to maintenance and emergency issues. Ask if they have a maintenance crew and if they work with preferred vendors to resolve issues. Do they get multiple quotes and negotiate the best prices? Do they pay bills on your behalf? The right property management company will be invested in saving your community money and providing you with cost-effective maintenance solutions.
Prioritize Their Services Over Their Fees
While pricing is understandably immensely important for many associations, you shouldn’t sacrifice the quality of service along the way. It is a good idea to first separate a company’s services from their fees when evaluating whether they’re a good choice for your association.
Review Their Availability
You will want your property management company to be available and respond to your inquiries promptly. Call the office and check for professionalism. How available are they? Do they have a 24/7 answering service? Are they willing to help if emergencies arise?
Ask For References
A good property management company can provide customer references, reviews, and testimonials that reflect their level of service and professionalism. Pay extra attention to reviews about their services that are essential to your community.
Select a Company That Shares Your Community’s Values
Requesting a proposal is a good idea, but you can also do your own research. The company’s culture and values are important and can usually give you a hint about how they will manage your community.
If you’re in Chicago, chances are you’ve passed a Hales-managed building. We’ve managed more than 200 buildings since 2003. At Hales, we provide outstanding services, and it is our mission to proactively manage buildings and maintenance for happy residents and increased property values. Request a proposal and a member of our team will be in touch within a working day!