Select The Right Property Management Company
Hiring A Company To Manage Your Rental Properties Is About Finding The Right Partner.
What do you need to know about your property management company?
1. Are They Licensed And Members Of Any Professional Affiliations?+
North Carolina requires rental property management companies to be licensed through the NC Real Estate Commission. But sometimes, just having a license isn’t enough to ensure that you are selecting a company that is professionally educated and up to date with the latest trends in property management. Select a property manager that is affiliated with a professional organization and has been professionally educated in property management. Most of our staff are NC Real Estate Brokers which ensures the most up to date education on laws and procedures and many employees at SPM Residential Services are also members of the National Association of Residential Property Managers (NARPM) and participate in training and educational events.
2. Do They Specialize In The Same Kind Of Property That You Own?+
Some companies specialize in single family homes and some specialize in short-term recreational properties. Pick a rental property manager that works with the same kind of property that you own. SPM Residential Services specializes in long-term (6 month +) rentals of single family homes and multi-family rentals (such as duplexes, triplexes). Our portfolio also includes apartment complexes.
3. How Long Have They Been In Business?+
Experience is important in the real estate rental business and property management expertise is learned through doing. SPM Residential Services has been managing rental properties in Wilmington NC and the surrounding areas since 1990.
4. How Many Properties Do They Currently Manage?+
There are pros and cons to a larger property management company. A company with a large inventory can take advantage of economies of scale with vendors, which can keep your cost low. But if growth came too fast and the company is not staffed properly, you may not get the level of personal service that you require. SPM Residential Services manages over 1400 single family units in the Wilmington and surrounding areas. We have built our portfolio gradually since 1987, enabling us to structure our staff to handle the load with quality customer service at the top of mind.
5. How many staff members do they have and how are they Organized?+
Property management is a very detailed and time consuming business and it’s important to be properly staffed in order to manage those details – from marketing properties to signing leases to facilitating maintenance repairs to processing payments. SPM Residential Services is staffed to provide information on our available properties, screen prospective tenants, and manage lease signings. We handle the move in and move out process, take care of any turnover maintenance, and manage annual inspections. We have a New Property Department that works hand in hand with owners through the process of starting management services with us. Our Accounting Department can focus on payments and statements to ensure that your financials are in good order.
6. Who Pays For Realtor® Referral Fees?+
SPM Residential Services believes in being a great resource for all of the local REALTOR® in Southeastern NC. Our company has an aggressive referral program where we pay REALTOR® to refer tenants and new properties to our company. The cost of this referral fee is included in our flat management fee. Unlike other management companies, we will not pass this fee on to our customers. This relationship has served us well through the years and we work very hard to meet all REALTOR®’ expectations.
