If you’re looking for a great property management company in the Long Beach area, there are a number of things you can do to ensure you’re working with the best.
Reputation and Credentials
Check with the local Bureau of Real Estate and get the licensing status of the broker and the company. This will tell you if there are any violations you need to be concerned about. Check on the company’s and the broker’s personal designations as well. One of the gold standards is the Certified Property Manager (CPM) designation, which is awarded through the Institute of Real Estate Management (IREM). This shows prospective clients like you that the property manager has taken the time and effort to be more professional and educated. You’ll get a higher level of professionalism with certified property managers than you will find elsewhere.
Check their Work
Drive by the area that your properties are located in and take a look at the buildings managed by those companies you are considering. If you find a property that looks good and you can tell things are running smoothly, you might want to talk to that company.
Measure Risk Management
It’s the responsibility of a property management company to protect their clients and the properties they manage. They have a fiduciary responsibility, so take a look at their insurance policies. You want to make sure they carry liability insurance, workers’ compensation insurance and errors & omissions insurance. That way if something does happen, the owner is protected.
The size of a company is also important. You want a company that is big enough to have a professional staff with different departments. But you also want a company that is small enough to be able to take care of its owners’ needs at a personal level. We believe that 650 units would be the minimum to cover overhead in a professional company.
If you have any questions about finding a property management company, or you’d like to hear about our services, please contact us at Belmont Brokerage & Management.