How to choose the Right Property Manager in Houston
Finding the right property management company in the Houston area can sometimes feel like finding a needle in a haystack. Not all property management companies are created equal and not all property managers offer the same great service. Before you sign a one year agreement with a property manager, take time to create a needs analysis of what you want in a good property management company. What is important to you as an investor? This will help you make the decision that is best for your investment portfolio.
Upfront Pricing - Honesty is the Best Policy
There is an inherint cost to managing your investment properties. The goal should be to entrust your home with an efficient, effective property manager who will be upfront with you about their fees. This will create peace of mind of what is (and what may not) be included in the management of your investment property. A percentage of the income for the property will be used to pay your management fees. Understanding the fees upfront will also allow you to better compare full-service property management companies vs discount property management companies. There is an old adage that says, "you get what you pay for". Look for a company that clearly outlines your expenses before you get started so that you can properly budget and determine if they are a good match for your investment portfolio.
Extensive Real Estate Experience
Landlords in Texas must abide by the Texas Property Code. This may mean that Landlords in Houston will eventually face routine scenarios and some unfavorable (or time consuming) scenarios. Handling Tenant conflict management can be time consuming. Emergency repairs never care if you are on vacation or do not have time to attend to them. Tenants unwilling to make their rent payment can create additional stress when having to contact them multiple times per day. The rental business can prove to be quite taxing overall. A good property manager will not make big promises and will always tell you the truth, even when you may not want to hear it. Look for an experienced property manager who is a licensed Texas real estate broker to provide you their expertise. Licened Real Estate Brokers are held to a higher ethical standard and subscribe to a code of ethics. At Edinson Property Management, our Team is led by an experienced TX Real Estate Broker and an experienced real estate investor who understands the Greater Houston Market.
Resources to Keep You Informed
There is no such thing as multi-tasking according to a book, The ONE Thing. If there ever was a profession that proved that, it is property management. Property management requires a keen focus and the proper resources to keep you informed about your property's finances and overall portfolio performance. What is being spent monthly on maintenance expenses? Do you approve all repairs or does the management company make those decisions for you? How much will you expect to receive in your Owner Draw each month?
At Edinson Property Management, we respect you as an Owner and want you to be invovled in your portfolio. We utilize online Owner Portals that maximize your Owner experience by minimizing guessword. You will see your Owner Statements which you can easily download as PDFs (or we can send to you in Excel format). Work orders created by the management company or by the Tenants will post on your Owner Portal for your approval. We provide you copies of the actual estimates we receive for any work so that you can see what the cost will be upfront. You can log in to your Owner Portal 24/7 from anywhere in the world to see any notes, lease documents, download your approved estimates and invoices, view your statements, receive funds and even contribute funds to your portfolio. These are a few ways we work to build transparent relationships with our clients.
Partnering with the right property manager in Houston can help or hurt your portfolio. We welcomet the opportunity to earn your business. We are Realtors and Property Managers and can provide a complimentary rental analysis of your rental portfolio. We can also provide insights on what to improve to get top rental rates in your area. Our goal is to deliver impressive results for our clients.
Are you ready to start? Call us today to learn how we can help: 713-970-1038