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How to Choose the Best Property Management Company for Single-Family Home Investors

As an investor in one or a portfolio of single-family homes, or as a passive investor in a professionally managed portfolio of homes, one factor that often get overlooked but shouldn’t is: Who does the property management?

FirstService Residential, one of the country’s largest property managers, has produced the following infographic as a quick reference guide for investors. Here are 8 key questions to ask of property management firms:

1. How long have you been managing properties like mine? The longer the better is the usual answer, but new companies with experienced real estate professionals can be equally if not more effective?

2. Do you have references? An obvious question, yet not always asked.

3. How do I get in touch with you? The more ways, the better. By phone, email, text, Skype, in person, via a service, after normal business hours, on weekends and holidays? All good questions to ask.

4. What will you do…and not do? Ask what the service contract specifically spells out, and be clear on what they won’t do.

5. Do you cater to specific community needs? If your portfolio includes many tenants with specific needs, whether young, elderly, disabled, or special language needs, does the property management firm you are considering have this covered?

6. What professional qualifications do you have? Also ask about professional credentials.

7. What about maintenance? Question how your property will be maintained, by whom, and at what price.

8. How often do you provide written reports and updates. As an investor you should want to know often and in what depth will the property management provide updates.

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer, and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience. Mr. Willig also ran a consulting practice and provided valuation, analysis, and transactional support services to multi-billion dollar real estate companies. Previously, Mr. Willig served as the Senior Controller and Vice President of Financial Analysis and then the Chief Financial Officer of the Athena Group, a multifamily development company and fund manager.

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