When you’re looking for a company to provide property management in New Orleans, you want to hire someone who does more than place a tenant and schedule maintenance. You want a company that will protect your investment, increase your profitability, and decrease your costs. A good property manager will take the stress and frustration of rental property ownership off your plate and help you reach your investment goals.
Goals and Objectives
A good property manager will sit down with you and talk about the goals and objectives you have for your property. Whether you inherited a property that you’d like to rent out or you are slowly adding properties to your investment portfolio, a professional manager should listen to you and present a plan to meet your goals and objectives. You’ll also want to make sure your property manager has a way to measure the success of those plans. It should be easy to determine whether everything is working or it’s time to switch course.
Communication is critical when it comes to managing your property. Determine how involved you want to be with the management of your home, and find a property manager who can communicate in a way that makes you comfortable. Some owners only want to receive a statement every month and others want to know what’s going on at the property all the time. A good property manager will be available to answer your questions. You shouldn’t have to wait days for a return phone call and your emails should also be responded to promptly.
You’re renting out a property because you want to make money on it. Great property management companies know how to increase your rental income in the short term and the overall return on your investment in the long term. You should be able to settle on a price that attracts qualified tenants and avoids long vacancies, and you should expect that the value of your asset will be preserved. When you work with a property manager who knows the market and understands both the sales and rental forecast, you have a much better chance of earning more on your investment.
You should have a management contract that reflects what you want to accomplish with your property and what kinds of services you need from your property manager. Your agreement should be completely customized, right down to whether your property manager will pay bills on your behalf and how they will hire landscaping and pool cleaning. You may want a full-service management plan that requires you to do nothing, or you might want to manage the home yourself but you need help placing a great tenant. A good manager will be flexible and accommodating.
If you have any questions about how to find the right New Orleans property management company for you, please contact us at Latter & Blum Property Management.