Hiring a property manager is a smart investment for your long-term success, but how can investors know which property management company is the right one? Not every property manager delivers what investors need to maximize income, protect properties, and build successful portfolios.
Partnering with a property manager that isn't the right fit for you can leave you with rentals that underperform and don't meet your goals. The best property management DC offers listens to your goals and has strategies in place to meet your needs, keep renters happy, and generate the revenue you need to meet long-term financial goals.
What steps should you take to find the best DC property manager? Follow our insights below.
Washington DC is an excellent place to invest in real estate. You won't have any trouble finding other rental property owners who work with property managers in the DC area. When it's time to find your ideal property management partner, start by asking other investors who they use and what they like about their property managers.
Talk with others in the real estate investment industry, as well. Reach out to real estate agents, maintenance contractors, brokers—and even renters. Renters can be an excellent source of information about property managers in the area. If they feel at home and enjoy living in rentals managed by a specific company, that's a good sign that the company delivers quality services.
Property managers who deliver excellent services won't be hard to find when colleagues and renters have reasons to give them a referral.
Prioritize Local Experience
To maximize your real estate investments in DC, choose the best local property management DC offers. We understand what it takes to operate legally and competitively in this market. A local property manager also knows what renters want for DC-area rental homes, townhomes, condos, and apartments.
Local experience is valuable! Combined with industry knowledge and high-quality services, a DC property manager:
- Stays up-to-date with local ordinances and regulations to keep your rentals operating legally
- Has the best local connections for quality contractors
- Develops a database of excellent residents to keep your rentals occupied
If you're a long-distance investor, local experience is a must-have for your property management company. We help maximize your rentals, keep up with changing laws, and apply the strategies that work best with DC renters.
Discuss Marketing and Vacancies
A property manager can do many things well, but if they can't keep renters in your properties, you lose money. Marketing experience and reducing vacancies are two critical things to discuss when looking for the best property manager for your rentals.
Excellent property managers:
- Have experience creating compelling property listings to attract quality renters
- Have access to major rental listing sites for maximum exposure
- Are available to conduct showings during evenings and weekends
- Waste no time finding a new renter when the current resident doesn't renew a lease
The right DC property manager should rent your property without it sitting empty for weeks (or months). An effective marketing plan and screening process make this happen.
Learn How They Work
A property manager is a long-term partner to help investors get more out of their long-term real estate investment strategy. As with any working relationship, make sure you understand how they work—and that it works for you.
When looking for the best property management DC offers, make sure they:
- Are available when you need them
- Are responsive by phone, text, or email (and communicate based on your preferences)
- Work well with you whether you want to be hands-off or have a higher level of involvement with the management of your properties
- Prioritize maintenance and renters' needs
The right DC property manager should accommodate your communication preferences—even if you're a long-distance investor in a different time zone. Find a company that delivers solutions that meet your goals and working style to make sure you develop a lasting, positive partnership.
Don't Overthink It
Researching and interviewing to find the best property management DC offers are essential steps to make sure you avoid a bad experience. However, overthinking and comparing companies for too long can delay your results.
An excellent property manager simply wants to serve you well. They don't want to trap you into a lengthy, restrictive contract or confuse you with a complicated pricing structure that doesn't support their services or meet your needs.
Choose a company that delivers on the services they promise—but won't hold you in a contract if you're not satisfied.
Choose a Property Manager That Does It All
The combination of excellent service, short vacancy times, local experience, excellent referrals, and straightforward pricing isn't easy to find—but it's out there. EJF Real Estate Services delivers all of these things (and more) as the best property management DC offers! Contact us to learn more about how we serve investors who choose real estate in DC.
Download the Makeready Checklist to find out how we prepare your rental for a new resident.