Characteristics of a Good Property Manager and Management Company

Characteristics of a Good Property Manager and Management Company - The Matt Kuras Team

When choosing the right property management company for your community, you will be asking a variety of questions to assess whether the company or manager will be the right fit for your board and your residents.

While every community has its own unique needs, and every residential management company has a unique way of serving them, there are a handful of qualities that any great company should have - if they don’t, steer clear.

Here is an easy checklist of the top qualities to look for in a full-service property management company.

1.

Leadership

The right property management company will help guide your community to a successful future. When interviewing potential property management companies, ask not only who your manager will be, but who will be supporting him or her. A skilled team of experts in various fields including HR, engineering, training and accounting support each property manager with advice and best practices in order to deliver the best service for your property.

2. Standard Operating Procedures The best property management company should have proven operational procedures, which have been developed through years of experience. You will want to ensure the company has standard practices they put into place for every community or building they serve.

These operating procedures should include preventive maintenance programs, a full audit of all contracts and vendors, as well as the lifestyle of all the residents in it.

3. Financial Stewardship Look for a residential management company with an internal financial management team led by certified accountants. The best management companies will follow rigorous internal review and accounting protocols to promote financial health and stability of your association.

4. Vendor Relationships A property management company that has strong, long-held partnerships with quality service providers will be able to negotiate savings such as discounts on community purchases and lower rates on regular maintenance, while still maintaining a superior level of service.

5. Communication Weak communication is one of the most often complained about qualities in property management. Look for companies with a 24/7 call center and other forms of technology that allow you to communicate with a professional who can answer your questions or respond to your requests in a timely fashion

6. Attention to Detail From your property itself to the people who live in it, the right residential management company will provide you with a manager that pays great attention to detail. You probably know the unique features and eccentricities of your community - a property manager who asks about them and seeks to understand what makes your property tick will be able to provide you with the best service.

If you are currently searching for the best property management company for your community, or are unhappy with your current residential management company and want to explore your options, see how The Matt Kuras Team can best serve you.

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