If you’re trying to select a property management company in Massachusetts, there are several questions that you may want to ask. Gathering the proper information can help you select the right company that best fits your needs. Here are some questions to ask property management companies in Massachusetts.
What types of properties do you manage?
Some property management companies in Massachusetts specialize in small multi-family properties (2 to 4 units) while others focus more on large buildings. A small subset will have extensive experience with both. It’s helpful to know what types of properties a company deals with most as the management approach can differ.
Where are the properties that you manage?
Given the hands-on approach that property management can require, location is an important consideration when selecting a property management company in Massachusetts. If you have properties in Eastern MA but the management company deals mostly with Central MA clients, your level of service might be different. The location of the property management company office is not as important as the location of properties that they service. Resources are typically centered around service areas.
What services do you offer?
The level of service can vary greatly among property management companies in Massachusetts and can include anything from maintenance to tenant management, capital projects, marketing, and financial services. If you have a very limited current need, to may be willing to consider companies with limited service offerings. However, consider whether your needs are likely to change in the future. Going with companies offering more comprehensive services may be a better long-term strategy and will avoid the need to switch companies as your needs change.
What do you include in your contract?
Most property management companies require some type of contract that outlines the services provided. It’s a good idea to understand what those contracts typically entail, the commitment period of contracts, etc. It’s possible that some of those terms may influence your decision to hire a company.
How do you normally communicate with customers?
Communication is key in any business. Be sure to ask property management companies how they normally communicate with their clients. What types of information will you receive? How will you receive them? And how often will that occur? Does the management company’s approach fit with your way of doing business?
Summary of Questions to Ask Property Management Companies in Massachusetts
The above are just a few helpful questions to ask property management companies in Massachusetts. It’s a good starting point for evaluating your options and making a decision that works best for your own business model. The right property management company can help alleviate the stress of owning investments properties, preserve property values, and maximize your profits.
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