Choosing a Livonia property management company is an important business decision. You are typically stuck with the contract on the company you choose for at least a year, if not more. Therefore, it’s important to ask the right questions.

Are they local? Dealing with a company that’s too far away means your property could be in danger of being put on the back burner. In addition, the more local knowledge the management company has, the better they’ll be able to market your property to local tenants and manage it in the way that the tenants expect. This can help make your property more desirable, which in turn can lead to increased rental rates in the future.

Can they give references? If they can’t, there’s probably a horror story or two lurking in their management wings. Make sure the references that you receive are for similar properties of the same type. Make sure you get in touch with the references once you have them and ask them the sorts of questions that are of the greatest concern to you.

How long have they been in business? A fledgling company is always a risk, and it may not be the sort of risk you want to take with your business. A fledgling company is less likely to have references that you can talk to and could be prone to making costly mistakes. On the other hand, a newer company might be hyper-vigilant in their care of your property, because they’re grateful that you gave them a chance. This isn’t a make or break factor-it’s just a consideration for you to weigh before moving forward.

What is their accountability and follow-up process? Does the Livonia property management company have a dedicated process for keeping you in the loop so you’re not unpleasantly surprised? What processes does the company have in place to make sure that no details slip through the cracks? How do they make sure that the appropriate paperwork gets sent on time, for example? What is their past due collection process? How do they get the property ready for new tenants in a timely fashion?

What is their marketing and tenant screening process? You have two tenant goals. First, you want to find tenants that are going to pay their rent on time and avoid trashing your property beyond recognition. Second, you want to minimize the amount of time the property sits idle, waiting for the perfect tenant. What proactive steps does the company take to ensure both of these vital concerns get the attention they deserve?

Remember, you are hiring the management company to save you time, money, and headaches. Make sure that your Livonia property management company doesn’t cause you brand new sorts of headaches by gathering these answers before you end up stuck with a contract that you come to regret.