Beware Of Cheap Property Management Companies

Home / Property Management Tips / Beware Of Cheap Property Management Companies

Investing in a Fort Lauderdale property management company can be your biggest advantage to your investment property managerproperty. Property managers can easily take the stress and responsibility out of managing your rental property. When looking to hire a property manager for any of your Fort Lauderdale rental apartments finding the cheapest one doesn’t necessarily mean that it is the right one for your situation.

Choosing A Property Manager On Their Price

The cost of a good property manager and a bad property manager can be substantial. Although the true price will depend on the level of service that you receive. Investors, of course, are looking for that competitive edge when trying to maximize property return. So investing in the best Fort Lauderdale property manager is vital to the success of the management of your investment property. In some cases the cheapest agent many not always give you the best returns.

The price of property management and rental profits are generally determined by:

  • Vacancy – weeks the property is unoccupied.
  • Property condition – was it proactive, reactive, or even effective?
  • Advice – property managers are experts in their field and should be able to give advice on how they plan to minimise losses and maximise gains.
  • Why do property management company’s fees differ so much?
  • The amount of property each property manager has to manage.
  • One or two person staff, office, operation.
  • The amount of customer service given.
  • Less ongoing investment and less training to the business.

Signs Of An Ineffective Property Manager

A sign that you may be dealing with an ineffective property manager includes:

  • Low morale
  • Continual turnover of staff
  • Lack of consistency in company dealings
  • If you have to chase your property manager
  • If they’re behind in their work

For investors the number one enemy is a vacancy. Choosing a property manager should be based of their portfolio of finding quality long term tenants.


Recommended Posts
  • Xexilia

    I supopse that sounds and smells just about right.

Leave a Comment