Managing a rental home from across the country or overseas can be daunting for military homeowners. For this reason, many service members turn to property management companies to help them navigate the process of renting their property while they are away.
Knowing how to find a property management company that will have your best interest in mind is crucial to the overall success of your rental. Get to know the role of a property manager and review our top tips for finding the right property management company for you!
What Does a Property Manager Do?
A property manager’s main job is to manage the routine operations related to your rental while ensuring it is consistently rented and profitable. In most areas of the United States, property managers are required to have a real estate license to operate legally. This qualifies them to create lease agreements that will effectively establish expectations and protect you and your property.
Property Manager Duties
- Screen tenants
- Secure tenants
- Establish lease agreements
- Collect rent
- Maintain property
- Hire contractors
- Market property
- Manage budget and expenses
- Ensure legal compliance
- Evict tenants when needed
- Perform property inspections
- Respond to property emergencies
- Conduct market analysis
It’s important to note that not every property management company will offer each service listed above. However, the professional you hire should, at a minimum, effectively find tenants, manage tenant relationships, collect rent on time and ensure the property is profitable and maintained.
More Like This: Property managers, who are typically also licensed real estate agents, can become military relocation professionals (MRPs). Discover how these experts can help you find military housing and work with you to find reliable military tenants!
Why Hire a Property Manager?
The benefits a quality property manager can bring to the table are numerous. Not only can they take many time-consuming tasks off of your plate, but they can also offer expertise that would require days or even weeks for the average person to properly research and execute. Below are the top reasons why military landlords choose to work with a property manager.
Benefits of a Property Manager
- Saves time: A property manager will save you both time and money. This is because the right expert will handle all aspects of your rental, allowing your investment to be more passive than hands-on.
- Legal compliance: The last thing you want to do as a landlord is accidentally get yourself into legal trouble! A licensed property manager will be familiar with all of the local laws and regulations, putting you in a great spot to confidently rent out your property.
- Tenant relations: Even the best tenants can sometimes be late on rent, and it’s stressful to have to track down what is owed to you. A property manager will handle everything related to your remnants from the moment they sign a lease to the second they pay their last month’s rent and move out.
- Property upkeep: If they don’t perform the maintenance themselves, a property manager will be able to vet local contractors and hire the right professionals to ensure your home is well maintained.
- Administrative services: In addition to collecting rent, many property managers will help you budget for the property and handle inconveniences such as securing insurance and scheduling property tax payments.
- Reduced vacancy rates: Due to their marketing expertise and connections, a great property management company will ensure your property always has a signed tenant.
Managing a property on your own can be difficult from a distance, but it isn’t impossible. Just know that, without the help of a property manager, you could run the risk of your home experiencing prolonged vacancy. Furthermore, if you’re not familiar with proper screening techniques, you could find yourself having to deal with an unreliable tenant.
In addition, choosing not to hire a property manager means that you will be on your own if you ever need to take legal action against a tenant. Failing to pay rent or damaging your property are the two most common reasons a landlord may sue those renting their home.
How to Choose a Property Manager
With so many things to consider, it can be tough to decide what features to value in a property manager. Knowing how to choose a property manager that will make your cross-country or overseas Permanent Change of Station (PCS) stress-free as a landlord should be a top priority. In addition, you’ll want to find someone who has the potential and promise to make sure your rental actually makes a profit.
Hot Tip: Thinking about self-managing your rental? While it can be difficult, many military members find it quite rewarding! Review these 5 Tips for Self-Managing Your Rental to help you determine if being hands-on is right for you!
Are they a member of the National Association of Realtors (NAR)?
For a property management company to be a part of the National Association of Realtors (NAR), that means they adhere to the association’s ethical standards, professionalism and best practices in the real estate sector.
In addition, a property management company that is a part of state and local associations will have access to property management agreement forms and lease agreements for residential property contracts created by that state’s real estate commission. A properly executed contract on a state-approved form protects you as the homeowner, the brokerage firm, the agents of the broker, and the tenants.
Keep in mind that companies that are not members of NAR and their state associations must purchase their own forms. They obtain these from an office supply store or employ a real estate attorney to design forms for their company.
Do their offered services justify the price?
Ask property management companies to provide you with a written list of rental management services offered to homeowners. Make sure this list clearly states their prices and any other fees you may be expected to pay during your partnership.
There is no standard for how property managers price their services, so you can expect each company to be slightly different. Determine what you need from a property manager, and once you have a list of your prospects, compare how much it would cost to work with each. This will help you identify the companies that offer the best services and prices relative to your needs.
Are they salaried or commission-based?
When interviewing property management companies, take a look at how their managers are paid. Does the brokerage delegate property management services to salaried agents? Or are the property management services commission based?
The business practice of salaried-only property managers is a huge disadvantage to you as the homeowner. This is because these property managers are not always motivated to show properties or execute leases on weekends. Why would they go out of their way if they are already collecting a paycheck?
This can result in prolonged vacancies. Ask the agent how he or she feels about working on weekends on an as-needed basis. If the salaried agent doesn’t offer occasional weekend service for emergencies, contact your 2nd or 3rd choice company that employs commissioned-only agents.
Interview 2-3 Commission-Based Property Managers
We don’t recommend just picking the first and only property management company you interview. Take some time to speak with 2-3 property managers that are commission-based, and see how you feel afterward. Who gave you the most confidence that they would take care of your property and have your best interests in mind?
Property Manager Interview Questions
- Do you perform credit and background checks on applicants?
- Do you contact previous landlords and employer references?
- How will you advertise my property for lease?
- Do you have any specialized training that makes you better qualified to serve military homeowners, buyers and tenants?
- What is your approach to renters who are not paying on time?
- In case of a property maintenance emergency, are you prepared to quickly and effectively handle all situations?
In today’s rental market, every property manager should conduct thorough credit and background checks. It’s the cherry on top if they also offer an employer and past landlord reference checks! At a minimum, your property manager should be advertising their rental homes on AHRN, along with other marketing tools.
Becoming a Military Landlord
However you choose to handle the rental of your property while you are out of the area, research and preparation are your keys to success. Both the homeowner and tenant are best protected when all expectations and standards are clearly expressed in writing. This applies to the homeowner and property manager relationship as well!
Whether you list your home for yourself or hire a property manager to do it for you, AHRN is a celebrated resource for everyone involved with military housing. Sign up at AHRN to find your next home near your new installation. Or, log in to explore how the site can help you find future tenants or homebuyers for your property.
debbie starnes says
This is a great article on why military homeowners need a property management company. My husband has orders to report to Fort Hood in July. I will save myself the headaches of self management and call a management company today!
Debbie Starnes
Kristen says
Thank you Debbie! I’m glad you found it useful. 🙂 I’m here at Fort Hood so welcome to the neighborhood! We did an installation feature on Ft Hood a couple months ago.
Anna says
Finding a good Property manager is no easy task. You should visit the property before making any decision. You should choose a good property manager who has a great knowledge and experience.
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cecilia c. coca-stephens says
I learned so much from this Article. I’m currently in Lacey, Wa and relocating to D.C. I’m having a hard time finding a home property management company.
Kristen says
Cecilia – I’m so glad you found the article helpful! I just sent you an email with name of a property manager one of our team members has worked with and highly recommends who serves the Lacey area!
Lance McGill says
This is a great article on why military homeowners need a property management company. I am on orders to report to Japan in March 15. I am looking for a great property manager for my home in Copperas Cove, TX. I am a new homeowner with only 4 years of owning my home. Any recommendations on property managers around Fort Hood? Thanks
Kristen says
Lance – I’ve sent a request to our support team for a list of recommended property managers!
Eric Darby says
I agree this is a great article on why military homeowners need a property management company. I currently live in Virginia and have a house in Columbia, SC. I am looking for a great property manager for my home in Columbia, SC. Any recommendations on property managers? Thanks
Kristen says
Eric – let me do some checking and see if I can get you a recommendation!
Robert says
Have a home in Eagle River, AK that I am looking for a property manager for APR 15 when I PCS. Any advice would be awesome!
marietta s. pardilla says
I’m in the process of renting my house and needs a reliable property manager because most of the time we are out of the island. My property is located here in Ewa Beach Hawaii. Can you recommend one for me please?
Kristen says
Marietta – I will forward your request and see if we have an available recommendation. You might want to explore our Business Directory to start!
marietta s. pardilla says
Thnx for your reply. I’ll check out your directory. I hope I can find one based in Hawaii.
Tammy says
I found this article very insightful. My husband and I are trying to decide whether or not we want to manage our property from overseas and this article provided some much needed insight. I have reviewed the business directory for recommended property management companies in the Albuquerque area and none were listed. Can you recommend one?
Kristen says
Tammy – I don’t have a personal recommendation for you in Albuquerque,but I’d suggest posting on our facebook page and tapping into the collective knowledge of our thousands of members there!!
Fort Myers Real Estate says
The real estate market in Florida has stayed fairly steady. But, I think it’s picking up now! There are a lot of houses for sale right now and they’re getting snatched up quick!
Kristen says
That’s great to know! Thank you for stopping by.
Real Estate says
Discovering a decent Property chief is no simple errand. You ought to visit the property before settling on any choice. You ought to pick a decent property director who has an incredible learning and experience.
Real Estate says
These are extraordinary inquiries Hank, much appreciated. I was simply inquiring as to whether acquiring an investment property may be a decent move for us, so these may prove to be useful!
Real Estate says
We have been landowners for a long time and we have never utilized a property administrator for our two properties. I’m so happy, as well. We have a couple long haul inhabitants who have had zero issues so paying a property administrator would have been a gigantic waste! One couple has been in one of our properties for a long time with no issues. Everything we do is gather checks and do the periodic repai
Real Estate says
It’s awesome that you’ve had inhabitants for so long! That makes life so much simpler. It helps that the rental market in the UK is completely crazy at this time, so they are likely eager to stay leasing from you much more.
Fort Myers Real Estate says
That’s great to know! Thank you for stopping…..
real estate lawyer Dover NJ says
Regarding your legal concerns and questions, always ask the best of legal firms.
Susan Justice says
I am an AGR soldier who has moved around the at least five times since 2000. I had bought my home in GA in 1998. I left GA in 2000 and have went through 4 property managers. The last one was the worst and I had to get a lawyer to get out of contract with them. I have a new property management which is better, but it takes them until the middle of the month to get me the rent payment. I'm considering getting a new property manager. Does anyone have any suggestions?
Bob|attorney jobs says
It is wiser to have professionals on your side especially those who have been through several experiences of real estate transactions.
Kristen says
Professionals can be powerful allies!
Daniela Adams says
I really like your list of questions to ask the property manager. I think, the answers can give you a pretty good idea on how the manager does his/ her job and the details of it. My parents are looking to hire a property management company. I will share this article with them; I'm sure it will be helpful.
Kristen says
I’m so glad you find it useful, Daniela!
Vern C.Tan says
Hello Dear !
Great Article with very useful information !
A good property management company is really helpful when you are looking for the property outside where you don’t have the proper idea.
Thanks for share !
Kristen says
Thank you, Vern!
larissa says
I have been wanting to make more investments to help me get some long term benefits. It is really helpful to get more information on how to invest well. I think that I first need to establish what kind of property I want to invest in, since there are so many options. I think that it would probably be best for me to invest in residential property. Now I think I should be able to look around and find something that will work for me. Thank you for the great post!
Larry Driver says
Incredible Article with exceptionally helpful data !
A decent property administration organization is truly useful when you are searching for the property outside where you don’t have the correct thought.
Kristen says
Thank you, Larry!
Patrick Freeze says
Thank you for your insight into finding a reliable property management group to handle your rental property needs. I agree that for military property owners, this task may be more difficult. I would love to suggest that you meet with any possible property management companies you are interested in, in person if possible. I also recommend, as you mentioned, that checking things such as services provided, price points, tenant screening processes and background checks, and advertising methods will help you make the best decision possible. Thanks again for sharing this useful insight. Good luck to those looking to enlist someone to manage their rental properties while overseas.
Kristen says
Thank you, Patrick!
Kyle Winters says
This is some great advice; after all, not many people know what kind of questions they need to ask when choosing a property management company. I especially like the question about any specialized training or other assets that they have over other candidates. For example, if they already have a dedicated maintenance crew on call, then that is less money you’ll have to spend.
Ridley Fitzgerald says
It’s good to know how to find a property management company. We are thinking fo renting out our second home, so this is helpful. I’ll be sure to find a company that will perform background checks on applicants. We only want the best staying there!
Jenna Hunter says
It would be really nice to be able to rent out my property however, I don’t know how to do it all myself. Your advice on getting a property management company to help with tenant/landlord disputes. It will be really helpful to research all the companies I can to find the best service possible.
John Alex says
Finding a good Property manager is a difficult task. You should visit the property before making any decision. There are a lot of frauds are happening in USA. You should choose a good property manager who has a great knowledge and experience.