1. Dealing with a company who does both Redford property management and real estate sales. A company who also does real estate sales makes most of their money in real estate sales. This means they might mismanage your property on purpose while trying to pressure you to sell it. Since you have chosen a rental investment strategy rather than a “flip” strategy for your investments, they will never be working entirely within your best interests.

2. Choosing a company that’s too far away. One of the major reasons people turn to Redford property management companies is their ability to deal with a company that might be too far away for the investor to properly handle himself. This benefit is completely undermined if the investor also chooses a property that’s too far away. Furthermore, you want to know that your property is going to be a priority for the company. Since distance means increased costs for the management company, you might find this is not the case.

3. Choosing a company that’s too small. A company that’s too small might not have a large enough marketing budget to market your property effectively. They also might not have a large enough staff to really take care of your tenants in a way that keeps your properties profitable.

4. Going for the cheapest option just because it is the cheapest option. There’s an old saying that says you can either have the lowest price or the best service, but you can’t have both. When it comes to taking care of a long term investment like your rental property, you’d best make the right choice. Otherwise the money you’re “saving” is going to be eaten up in a string of bad tenants and hefty repairs.

5. Getting locked into a long contract. The longer your contract, the more money you are likely to lose if the company turns out to be unsuitable. Anything from hidden fees to changes in the company can turn a previous good choice into a new management nightmare. Contract lengths can vary, but usually you want to stick to 12 months-which means you want to stick to leases that are 12 months long, as well.

If you can avoid these typical mistakes you will be well on your way to ensuring success with your rental Redford property management.