Huge Mistakes You Can Make When Choosing A Phoenix Area Property Management Company

Huge Mistakes You Can Make When Choosing A Phoenix Area Property Management Company (And How To Avoid Them) Huge Mistake #1: Making It Only About The Money First, let me be clear...getting the same thing for a lower price is a GOOD thing. But, and this is a BIG but, that all depends on whether you are truly ‘getting the same thing’. Many home rental companies come into a market and offer to manage a home for dirt cheap to attract business. Here’s how the dirt cheap option usually works out: you congratulate for saving $25 a month on property management fees. Little did you know that your problems were just beginning.

You may find that the property manager who loved you so much BEFORE the agreement was signed is too busy now to return your calls. Your renters get ticked off because they are not being helped, want to move out. Or your home was quickly leased to tenants without careful screening and the “nice renters” are trashing your home. When rental management companies cut their prices, they cut their service.

Sure, they won’t SAY they will cut their service, but what do you expect them to say? If they said “Hey, sign with us today and pay us this bargain rate...and after we sign the paperwork I’m going to ignore your house because you are paying me $25 a month”...would you sign up with them in the first place? I don't think so! Pretty much all the time, you get what you pay for. Your Mom told you the truth: there is no such thing as a free lunch. How To Avoid This Mistake

1. Check online reviews for Phoenix area property management companies that seem too cheap to be true. I rarely see the lowest priced option have reviews that are worth a darn.

2. Throw out the lowest price option if its a lot lower than others. There is no secret formula; property management in Phoenix is a mature industry and there are no secrets. So if someone is way below the price of others, its not because they are smarter, its because they intend to deliver much less service. Don't trust a quote that is too low.

3. Ask Yourself: "Are They Lowballing My Rents?" How much will you really save with the lower priced option? A higher quality property leading agency will take the time to property price and market your home, so they may make you more money than the discount company. After all, if the discount guy tells you to rent your home for $1200 a month and charges you $60 for it a month, you get $1140. But maybe the low price guy said $1200 so you home would rent without too much work (after all, if you don’t make much money on one deal, you need to make up for that by doing LOTS of deals and not spending too much time on one...like yours). But what if the higher quality company can get you $1300 per month and charges you $120 a month? You net $1180, which is $40 more per month in your pocket with the higher quality property management company! It could be that the low cost option COSTS you money. Sleep with one eye open!