Property Management Rochester NY! 10 Tips on How to Choose a PM Comp.

10 Tips on How to Select a Residential Property Manager

1.Only select a property manager that is licensed by the state he or she works in.

o Ask for documentation of that license. You want to be sure you are dealing with a reliable and legitimate company. Many property management companies in Rochester NY are not licensed and could cost you the owner everything.

o Integrity Pm. Inc is a NYS Licensed Real Estate Agency with Thomas. “TJ” Harrington as the licensed broker and president.

2.Find a local property manager for your specific area where you property is located.

o You want your residential property manager to know the local market and be close enough to your property to be available.

o Integrity Pm. Inc has its office in the heart of downtown Rochester NY and mainly manages properties in the City of Rochester.

3.Look for recommendations from your property manager on how to set rent and make improvements to keep your property attractive to local renters.

oYour property manager should have advice that is specific to the city, town and neighborhood.

oIntegrity PM, Inc does this for every property that becomes part of our Management family

4.Ask for a plan.

o Selecting a proactive property manager who has ideas on how to attract renters for your property and keep it well maintained will help you do less.

o Integrity PM, Inc has a 97% occupancy rate and will not take a new property on if we feel it’s in a bad neighborhood and we can’t keep it rented.

5.Review experience. Look for a property manager who has taken care of residential properties that are similar to yours.

o Ask potential property managers what types of residential properties they are most comfortable with. Some are really good at managing single family homes and others prefer large apartment buildings.

o Integrity Pm, Inc will give the prospective management client’s a list of properties in their properties area and we also list our for rent properties on our website. We currently manage 1-4 unity buildings.www.IntegrityPmOnline.com

6.Talk to references. A potential property manager should be able to provide you with at least 3 current or recent clients.

o Contact the references and ask about their level of satisfaction with the property manager you are considering. Discuss strengths and weaknesses as well as how successful their properties have been while managed by the property manager. Ensure confidentiality to get the most honest feedback.

o Integrity PM, Inc will give you a list of 5 current property management clients so you can contact them and their more than willing to give you a detailed account of their experiences with our company.

7.Choose a property manager with great customer service. If your phone call does not get returned for 3 days, this is probably not the property manager for you.

o Look for a manager who will communicate well with you as the owner as well as your tenants. You also want someone who responds right away and treats applicants, tenants and vendors with respect.

o Integrity PM, Inc property managers contact all callers with a couple of hours. All property owners have a phone number used only by owners and workers. It’s answered every day from the hours of 9am to 5pm m-f.

8.Discuss finances and accounting.

o Establish when rent will be collected and how quickly it will be deposited into your account. Some property managers hold the rent in their own accounts, giving themselves extra interest. Make sure the revenue makes it to you as soon as possible.

oMake sure your property manager understands accounting. You should receive detailed statements of revenue collected, amounts spent on maintenance and repairs and payments made for taxes and fees.

oIntegrity PM, Incuses the state of the art cloud based property management software called Propertyware. Each owner has their own portal that they can access 24 hrs a day 7 days a week with current info about their property or properties.

9.Discuss fees

o Understand how much the management of your property will cost, and what you are getting for that money.

o Find out what the average property management fee in your area is. Most fees are charged as a percentage of rent, and they can range from 4 percent to 15 percent of rent.

o The fees in large cities are often higher than those in smaller communities.

o Integrity Pm.Inc charges a set percentage on the collected rents each month. Single family homes are 10% and 1-4 family units

10.Make sure you like the managers you are going to be working with.

oIf your personality doesn’t mesh with the companies personal don’t hire them.

o Integrity PM, Inc managers are really friendly people and are committed to You the owner making a profit on your investment property in Rochester NY. We will work hard for you and we will try our hardest to be likeable in the process.

Contact Thomas “TJ” Harrington the licensed Real Estate Broker for Integrity PM, Inc for any more information. Our office is located in the heart of downtown Rochester at 33 University Ave, Rochester NY, 14605 www.IntegrityPmOnline.com Phone office: 585-413-1349 [email protected]