Are you spending too much time managing your property? The administrative formalities of property management make you save time. Finding the ideal tenant seems impossible to you. Do you have profitability goals to achieve?
To manage a property, it takes time, a lot of time. It is considered that for a three-year lease, the lessor provides, on average, more than 100 hours of work. This is why landlords are increasingly turning to property management solutions to optimize their property income and free themselves from administrative tasks.
There are many property management offers. Different proposals are available to you depending on whether you are looking to have your property managed year-round or simply for a seasonal property, whether you are looking for an entirely online solution or “classic” physical agencies, or even if you want the agency represents you during general meetings and takes care of paying the condominium fees or insuring your accommodation.
To assist in making a decision on the wide range of offerings service to you, we have compiled the subsequent listing of solutions for managing property homes which might be classified into various categories you will find below.
Table of Contents
Here are the criteria we used to rank them:
Customer satisfaction
The diversity of solutions offered
A good price-performance ratio
The practicality of the response provided by the company
Now that your real estate investment is recorded and your property is available, you must manage the property daily or almost. The real estate property management agencies are numerous and diverse; we give you the keys to choose them.
Choose your agency according to its area of expertise.
The first thing you need to find out about before deciding on your real estate business to manage the property of your new property is to realize its specialization. Indeed, some real estate property management companies tend to pay attention to transactions rather than the property control of residences, which they then positioned inside the historical past… Whereas that is part of actual estate existence that has to be addressed!
Therefore, we advise you either to turn to an agency specializing in property management, as there are more and more of them, or, at the very least, a multi-specialized agency, including a dedicated cell (and agents!) for property management.
To choose your management agency, look at the fees
Of course, one of the most essential elements that will make your choice towards a particular agency will be the amount of fees. Pay attention to the details, and don’t be seduced by overly attractive prices. Look systematically and meticulously at the services and guarantees included in agency A’s fees, then in agency B’s, etc.
Note that, on average, the fees are between only 5% and 10% of the rent collected.
Pay attention to the duration of the signed mandate and termination fees
To carefully choose your management agency for your property investment, also remember to check the clauses of the contract you are about to sign.
First, the contract’s timeframe should not exceed a certain period from the beginning of your relationship. If you’re dissatisfied with the direction, it’s crucial to change the agency before the conclusion of the term. Starting with a 1-year commitment is interesting to get an idea of the quality of the services while having a way out reasonably quickly in the event of dissatisfaction.
Also, discuss the terms of the search property mandate with your agent, depending on what you too want:
Exclusive: a single agent must find the tenant, and you cannot end the contract before the pre-established end date.
Semi-exclusive: there is also only one agent, but you, too, can look for your tenant.
Non-exclusive: you can search for your tenant and ask several other agents to do so.
Choose your management agency based on its reputation.
To make the best possible choice and to delegate the management of your new property with peace of mind, it is essential to find out about the reputation of the property management agencies that interest you. To do this, rely on the responsiveness, availability, and friendliness of the agent you have on the phone or who sees you and his professionalism.
What criteria should I take into account when choosing my property management agency?
Renting a home can be complex if you need to gain knowledge of the real estate industry. However, entrusting your organization to an organization is all the more so if you choose something other than the one that suits you.
Several criteria are essential when choosing a property management agency. Always check the establishment’s reputation: it’s simple and can be done by word of mouth.
In general, franchise real estate agencies have excellent know-how and resources. Their network is extensive, and you can access the whole of France in the digital age.
Then, some organizations specialize only in a specific type of transaction. Indeed, some focus primarily on the purchase or sale of real estate. If renting is not one of their primary services, visiting other establishments will be more beneficial for you.
Knowing the local market is necessary for professionals. An establishment that has existed for years is proof of sustainability. He knows how to organize himself and has his methods for quickly renting the property entrusted to him.
Also, check the social networks of the said agencies and the comments on the Internet to see what comes out of it.
Finally, the quality of the photos and announcements of the agencies will help you understand their professionalism and involvement in the search for tenants. Look at the pictures of the property accommodation on the national ad sites and the agency site in question if there is one.
