Tell-Tale Signs You Should Hire a Specialist in Real Property Management – Columbus, Ohio
Columbus, Ohio is home to many residential and commercial rental properties. In the past few decades, we’ve noticed a steady increase in building owners and landlords looking for help. Let’s face it, real property management is a long-term endeavor, and not everyone has the time to perform real property management. You are not alone! Maintaining and running a commercial property can quickly become overwhelming. Do the following six statements ring true for you? If so, they may be signs that you need help from an on site property manager for hire!
- You want your investment property to be profitable.
- You expect your property to be well-maintained.
- You’d like to find quality tenants but don’t know how.
- You want your tenants to be well-serviced but don’t have the availability.
- You feel in over your head managing your property.
- You’re thinking, “There’s more?!”
Why hire a commercial property manager?
If you resonate with any of the above sentiments, the following questions will help you determine whether on-site property manager services suit you. These practical questions are a realistic gauge for any rental property owner. Ask yourself these questions and consider your needs:
- Is your rental property located near your residence?
- Does your schedule allow you to handle issues that require immediate attention?
- Are you able to maintain your property?
- Do you understand the regulations concerning all types of housing programs?
- Are you willing to take care of the day-to-day property management tasks yourself?
- Do you have accounting experience, which is required to keep track of rental payments and expenses?
If you’ve answered “no” to any of the above questions, on-site property manager services may be appropriate. Ultimately, a rental property manager fills in where you can’t be present and handle every issue. You’ll have peace of mind knowing that a full-service property management company will attend to your tenants. Additionally, you’ll get to make the most of your investment without the inundations of micromanagement.
What will a rental property manager do for me?
When you hire a real property management company, you can focus on running your business and not worry about the minute details related to your commercial property. You’ll collect on your investments without doing the day-to-day work, which can be tedious. While the property management services range from company to company, below are some examples of a rental property manager’s typical tasks:
- Ensure your property remains rented by advertising, interviewing/screening, and tenants’ placement.
- Set and adjust the correct rental rates based on property value; they stay on top of the property’s current value and negotiate with prospective renters.
- Manage your current tenants; whether it’s maintenance, finances, or legal issues, your property manager will take care of your tenants.
- Identify and advise you on the ideal prospective tenants; Columbus, Ohio property managers (or wherever you’re located) will manage the interviewing process and handle all paperwork.
- Collect and deposit the rent; commercial property management companies can set the due date for rent payments, collect the checks, and deposit them into the appropriate accounts.
- Handle compliance issues, housing regulations, tax regulations, and insurance are just a few compliance matters that a property management company can handle.
What do commercial property management companies do, specifically?
Below are some baseline tasks that licensed property managers can handle for property owners or landlords:
- Setting appropriate and competitive rental rates
- Marketing your property
- Selecting the right tenants
- Eviction dealings
- Managing tenants and their needs
- Property maintenance
- Compliance and legal issues
- Management of vendor relationships
- Investment management
- Maximizing your profitability
Is hiring a real property management company right for you?
Owning property is much more than collecting a check; it’s a long-term investment requiring meticulous attention and care. It’s a physical asset of value that does require work for upkeep. Ask yourself these questions:
- What on-site property manager services will you need? If you are looking at a large investment property, you may need more help than just rent collection.
- Do you have marketing experience? You will need to be able to put your property on the market and advertise effectively to ensure quality rentals.
- How much liability do you want? When you have a real property management company in charge, they are usually insured which lessens your burden.
How do you find property managers in Columbus, Ohio?
There are several options if you’re wondering how to find property management companies near Columbus, Ohio.
- Network with local commercial property owners and ask for referrals.
- Research online for specialists in real property management, Columbus, Ohio. Start with Google, and use search queries such as:
- rental property managers near me
- rental property management companies near me
- Search the database on NARPM.org, using the rental property manager’s name, location, designation, or chapter.
Compile a list of property management companies in Columbus, Ohio that you can sort through. Look at their online presence and ratings/reviews. Make notes on each prospect, such as their contact information, who referred you, their online ratings, and overall client feedback. Start narrowing down your list. Then call each prospective property manager to request an interview. By doing your due diligence, you should be able to determine the best property management companies in Columbus, Ohio.
Hire a commercial property management company you can trust!
Our licensed property managers have been the trusted source for almost nine decades for residential, industrial, and commercial properties in Columbus, Ohio, and throughout Central Ohio. The Robert Weiler Company’s real property management services are comprehensive of everything you should expect from a property management company as listed above, and more, including:
- Technology: A modern experience utilizing one of the most advanced, user-friendly software systems with 24/7 access to personal accounts and documents for both owners and tenants to have access.
- Legal and Financial Advice: Years of experience in this industry means that we can offer you time-tested advice for all your legal and financial needs from the Ohio laws to your tax obligations.
- Support: Even when not physically located at your property, we’re always at your side through our software or a simple phone call.
- Experience and Expertise: We are an 85-year-old commercial real estate firm, and there isn’t much we haven’t seen (or can’t anticipate). Plus, we boast a fantastic portfolio of commercial and residential units of all sizes.
- Local Area Knowledge and Resources: As licensed property managers in Columbus, Ohio, we have in-depth knowledge of the Central Ohio region. We use our local expertise to help in many areas, including determining competitive rental rates, following housing laws, and providing resources and referrals.
We pride ourselves on supplying a full-service property management team dedicated to your needs. Call us today at 614-221-4286 to speak with one of our rental property manager advisors to optimize your commercial property management solutions.