Certainly, when you’re looking for a San Jose property management company, you should be seeking out more than five things. However, this is a good starting point from which to begin your search. Finding the right residential management partner can seem overwhelming. If you know where to begin, however, you’ll find that you immediately gravitate towards those companies that are most aligned with your specific needs and your investment goals.
Here are 5 things to look for when hiring a San Jose property management company.
1. Responsive and Accessible Communication
Communication is critical for you as the owner and your tenants. You’ll want to be sure that you’re working with property managers who value transparent and responsive communication. Look for a company that has the capacity to answer phone calls, return emails, and respond to emergencies. When tenants have a leaking toilet or a malfunctioning appliance, they’re going to need to reach your property manager right away.
Property managers who prioritize communication can actually help you earn more on your Silicon Valley investment home. When tenants feel like their needs are being responded to, they’re more likely to renew their lease agreements. This saves you a lot of money on vacancy and turnover.
Look for good communicators.
2. San Jose Property Management Expertise
Experience is important when you’re hiring a company to lease, manage, and maintain your rental property. Find out how long they’ve been in business, and more importantly – ask what kind of properties they manage. You want to make sure they’re experts in the investments you own. For example, if you own apartment buildings, a management company that specializes in single-family homes will not be your best choice.
Get an idea of how a management company handles the day-to-day tasks of marketing a home, screening tenants, and responding to maintenance. You’ll know they’re experienced if they have systems and procedures in place to address anything that may happen. You’ll know they’re experts if they stay up to date on the best practices in property management.
3. Property Management Reputation
Reputation is important, because it tells you what kind of experience other clients and customers have had with a particular property manager. Read online reviews and spend some time on the company’s website. Do they provide information that’s educational and valuable, or are they just collecting a management fee?
You should also take some time to research a company’s reputation within the property management industry. Talk to vendors who do work on homes managed by that company. Ask other investors who they work with and what they know.
It’s always a good idea to work with a management company that’s well-connected through professional associations and organizations. For example, the National Association of Residential Property Managers (NARPM) is a great resource for San Jose property management companies. They hold their members to high ethical standards and provide endless tools and resources to help us manage homes better.
Joi Walker has received the highest personal credential from NARPM, MPM, master property manager. She also has been president of the Santa Clara chapter and continues to serve on the Santa Clara leadership team.
4. An Investment in Property Management Technology
We strongly recommend you choose a San Jose property management company that’s willing to adopt and invest in the latest technology. A lot of processes can be automated, thanks to innovative software and digital platforms. This results in consistency, communication, and documentation.
Technology can be used for marketing, screening, leasing, rent collection, and maintenance requests. It also allows you to stay in touch and informed. Do not waste your time with property managers who are reluctant to accept online rental payments and maintenance requests. Over the last year and a half, we learned how important technology is to the effective management of rental properties.
5. Understanding of California’s Rental Laws
In Silicon Valley, the laws are changing all the time, and it can be risky for landlords to try to navigate a system that’s so focused on protecting tenants.
You need property management that understands the laws and the importance of complying with them. The Tenant Protection Act has delivered a lot of new regulations when it comes to rent control, eviction, and Section 8 applicants. You need a property manager who understands the way these laws impact your rental property. You want to know they’re staying current on any changes or legal challenges.
These are five important things to look for during your search for San Jose property management. If you’d like to know how we approach these things, we’d be happy to tell you more. Contact us at Aborn Properties.