Blog Updated: 05/06/2025
5 Tips for Choosing the Best Property Management Company For You
About 41% of rental housing owners in the United States are individuals. This means many people manage their own rental properties every day.
Managing a property involves a lot of work. You need to screen tenants, handle property maintenance and repairs, collect rent, and deal with evictions. These tasks can be too much for one person.
If your rental property occupies too much of your time, you might want to hire a property manager. They can help you with day to day tenant requests and keep everything organized.
A professional property manager can keep tenants happy. They use strong strategies to help tenants stay in your rental property. This also reduces the chance of legal issues.
They make sure you get your rent on time. This allows you to focus on other parts of your life and investments. Great property managers really make a difference.
Here are five tips to help you learn about the property management industry. These tips will guide you in finding the best property management firms.
1. Determine the Type of Property Manager You Need
Different types of property management services exist depending on the type of property you own.
For example:
- Residential Property Management – Deals with single-family homes, condos, and apartments, focusing on tenant relations, maintenance, and rent collection.
- Commercial Property Management – Involves managing office buildings, retail centers, and industrial properties, often requiring knowledge of business tenants, leases, and regulations.
- Multi-family Property Management – Focuses on managing apartment complexes or housing communities with many units. This role often needs extra skills in building maintenance and managing tenant communities.
- Long-Term Property Management – Handles leases of 7 months or longer, typically 12 months or more.
- Short-Term Property Management – Focuses on vacation rentals and short stays. This includes Airbnb, VRBO, and other rental platforms.
Choose a good property management company. They should understand your type of property or real estate investment. They also need experience in the management industry.
They should provide excellent customer service. They need to know the specific needs of tenants and local laws.
Having specialized experience is important. Go with someone who has a strong focus in the property management business. This helps manage the unique challenges of each property type and lowers tenant turnover.
2. Ask for Recommendations
A great way to start your search is by asking for recommendations. Connect with other real estate investors, property owners, colleagues, Realtors, and contractors. This will help you find a list of potential property managers.
Many property owners rely on word-of-mouth referrals to find a reliable management company for their investment properties.
Online reviews on platforms like Google and Facebook can also provide insight into a company’s reputation. Once you have a shortlist, check the companies’ credentials.
Use the Better Business Bureau and your local Real Estate Commission. This will help you confirm they are legitimate and have no major complaints.
3. Hold Interviews
Interviewing potential property managers is essential. This will give you a sense of their professionalism, communication style, organizational skills, and approach to property management.
Arrange a face-to-face meeting or request a tour of properties they currently manage to get a firsthand look at their work quality.
During property visits, talk to current tenants if possible. Their feedback shows how well the management company handles tenant concerns. It also shows how they maintain the property and if tenants are renewing their leases.
A high quality property manager will have satisfied tenants and a well-maintained property portfolio.
4. Important Questions to Ask
During interviews, ask the following questions to help you evaluate potential property managers:
- What is your success rate in managing similar properties? – Look for managers with proven experience and successful property management records. Ask about their tenant retention rates.
- Can you provide references? – Contacting other property owners they work with can give you valuable insights.
- Are you licensed and certified? – Ensure they hold the required property management licenses and certifications for your area. Florida property managers do not need a license, but brokerages do.
- Do you carry insurance? – The company should have general liability insurance and property casualty insurance to protect you and your property.
- How do you set rental rates? – The company should have strong market knowledge and understanding of the property management market.
- What are your management fees? – They should be transparent with all their management fees within their management agreement. Understand if they are flat fee or percentage based.
- How do you handle security deposits? – They should advocate for their client when doing a security deposit claim, while following the governing law of Florida.
- What insurance coverage do you require? – Professional management companies should have insurance coverage requirements for their clients.
- How do you address preventative maintenance?- Having property regular inspected and preventative maintenance completed can help your bottom line.
Thoroughly vetting these details will help you confirm that the property management company has the necessary qualifications and trustworthiness.
5. Review Contract Details Carefully
Before signing any agreement, like property management contracts, review the services and fees carefully. Understanding the fees and services will help you avoid unexpected charges. This will also ensure you receive the services that the company promised you.
Contracts should include important elements such as:
- Start and End Date: Specify the length of the agreement; most property management contracts are one year long.
- Services Provided: List all services the company will manage, from rent collection to tenant communication.
- Termination Clause: Make sure there is a clause that lets you end the contract if you are unhappy with their services.
A well-defined contract will protect both parties and outline clear expectations within terms and conditions. Once the parties agree, you can start doing business together.
Why Allegiant Management Group is the Best in Florida
At Allegiant Management Group, we know property management exceptionally well. We handle everything for your property. This includes collecting rents, screening tenants, evictions, and repairs.
When you trust us with your property, you save time and avoid legal problems. You can relax, knowing your investment is secure. If you need a property manager for rentals, choose Allegiant.
Allegiant Management Group has a lot of experience in Florida's real estate market. It has become one of the most successful property managers in the state.
Let us help you with your Orlando Florida property or other greater Orlando properties. Learn more about us here and see how we can help you with your property management needs.
Contact us today! You deserve better than just good property management.
For more property management tips, check out the rest of our blog.
Choosing a Rental Management Company Video
Frequently Asked Questions (FAQs) - Common Areas for Choosing a Property Manager
How much does a property management company typically charge?
Property management companies typically charge 8%–12% of the monthly rent for ongoing management. Leasing fees for finding tenants range from 25% to 100% of one month’s rent. Additional fees may include maintenance markups, lease renewal fees, and vacancy fees.
What are the benefits of hiring a property management company?
Hiring a property management company saves time. They handle maintenance and screen tenants. They also collect rent and reduce vacancy rates. It provides professional oversight and improves tenant satisfaction, making rental ownership more passive and profitable.
What services does property management include?
Property management includes rent collection, tenant screening, lease management, maintenance coordination, property inspections, financial reporting, legal compliance, and handling evictions. Some firms also offer marketing, vacancy filling, and 24/7 emergency response.
How can I tell if a rental management company is reputable?
Check reviews, verify licensing, confirm insurance, and ask for client references. Evaluate communication, transparency in fees, and experience with similar properties. Membership in professional organizations like NARPM also signals credibility.
Can I terminate my contract with a management company?
Yes, you can terminate a property management contract, but terms vary by agreement. Review the termination clause for notice requirements, fees, and conditions. Provide written notice and settle any outstanding balances to avoid disputes.
How do you evaluate a property manager?
Evaluate a property manager by reviewing experience, communication speed, fee transparency, client reviews, and knowledge of local laws. Interview them, request references, and assess their tenant screening, maintenance handling, and financial reporting systems.
What makes a property manager stand out?
A great property manager communicates well. They solve problems quickly and keep vacancy rates low. They enforce leases fairly and provide clear financial reports. Strong local market knowledge and proactive maintenance also set them apart.
What is the biggest responsibility for property management?
The main job in property management is to make sure rental income is steady. This means keeping units filled, tenants happy, and rent paid on time. This supports cash flow, property value, and owner satisfaction.
What are red flags when interviewing property managers?
Red flags include vague fee structures, poor communication, lack of references, no local experience, unclear maintenance processes, and unwillingness to provide sample reports or contracts. Avoid managers who overpromise or lack proper licensing.
Disclaimer: The information in this article is for general purposes only. It should not be seen as legal advice. Always consult with a licensed attorney for specific legal guidance.
