What are your non-negotiable when hiring property management?

[Karen Higgins]

When you are looking to hire property management, what are you non-negotiables? 

And why would you hire property management when you are local to your investment property? 

[Charles Carillo]

@Karen Higgins

Many people hire property management companies if they are nearby because they do not have the time to devote to management. If they are busy with their job or trying to scale their portfolio. Non-negotiables might include being on all bank accounts with your funds in them, to name one thing. I would speak to a number of different property managers in the area and figure out their pricing, compensation etc. Pricing is important however it is not the only factor when choosing a manager. Make sure they have an office and people on the ground near your rental, make sure you find them through a referral and make sure they manage other like properties (don't hire an A class PM for your C class apartment complex).