When looking for a property management company to oversee and manage your Hamptons home, it’s important that you focus on finding the right partner. You’re entrusting a company or an individual person with taking care of a very important asset, so the selection process will require care and attention!
In this post, we’ll go over the steps to take to ensure that you find the best property manager or company to oversee all of your home management needs.
Ask For Referrals From Your Networks
Speaking with neighbors or people you trust is a great way to find the right property manager or company for your home. Consult those in your network whose opinions on the matter you trust — for example, your builder, your realtor, interior designers, friends, other homeowners in your neighborhood.
When asking your networks for recommendations, you’ll want to inquire about how proactive they are, what they really enjoy in terms of customer experience and bang for your buck.. It’s advisable to get multiple referrals so as to not limit your options. Once you have a list of referrals, you can do your due diligence - that said, many of them are “offline” and finding information about them is quite difficult or opaque.
Try to Research Online
Researching your options online is a comprehensive, data-driven way to find the right property management company in your area. You’ll be able to see reviews on Google, look up their profiles on Yelp, and generally get a complete picture of the options you have available to you. Some things you’ll want to consider when searching:
- What is this list of services that this company offers?
- Is the company’s pricing transparent?
- How user-friendly is their service? Do they have technology to streamline the home management process?
- What are the company’s reviews like?
Interview More Than One Person
Once you have compiled a list of options, it’s important to find the right company or team who’s dedicated and thorough.
When the Home Management team at Humming Homes meet prospective homeowners, for example, we make sure they conduct thorough home walkthroughs, note all relevant information, and highlight any areas that need special care.
You should also ask the following questions:
- What is their fee structure for dedicated home management?
- What is the experience level of the home management team?
- Is the company insured for property-related liability?
- How strong is their service provider network or stable?
- What services do they provide? — Here, you’ll need to make sure that the companies are able to cater to your specific home management needs, so it’s important to have a list of your needs beforehand.)
- What is the line of communication between you and the property manager? — Will you communicate by phone or email? Or do they have a more sophisticated service, such as a tech platform? Additionally, you may want to ask how often you can expect to get home reports.
- How does the company vet their team? — It’s crucial to have certified confidence that your home is in good hands. At Humming Homes, all members of our home management team undergo background checks and comprehensive interview processes.)
- How much time will they be able to devote to your property? — Try to figure out the number of properties they manage, as well as the number of hours each week that will be dedicated to managing your home. If they manage ten properties already and are allocating 10 hours to you, they likely won’t have enough bandwidth to execute the job by themselves – at least not properly. On the other hand, if the property management company is well-staffed, a large clientele can indicate how the business is thriving.
Understanding Terms Involved with Management Agreements
Sometimes, management agreements are binding contracts between a property manager or company and you. As such, make sure all terms are understood before anything is signed.
Be mindful that a property manager’s role can either be very limited or quite comprehensive. Whatever terms are involved, ensure that the agreement corresponds with what you talked about during the interview. You should also understand what your responsibilities are as a property owner and ensure that you both carry the right types of insurance – omissions and error coverage, general liabilities, and property casualties, at the very least.
With Humming Homes, we believe that in order to learn how best to serve you and your home, an annual agreement works best. That said, we have a risk-free guarantee so that all homeowners don't think twice about signing up with our tech-driven property management platform. Click here to learn more!
By conducting interviews, doing online research, and getting referrals from those you trust, you’ll ensure that you find the best person to safeguard and maintain your home.