For a landlord or investor, managing a property single-handedly can be an incredibly difficult job. From the never-ending list of tasks, starting from advertising the unit and screening applicants, performing maintenance, and being aware of the rental laws, there is always something that would need your immediate attention.

Property management companies help solve this problem. In Boston, things can get even more complicated with the city’s unique regulations combined with its ever-active rental market.

Read this guide as we aim to assist you in figuring out the importance of property management, how to make the selection, and the most important steps on why to ask before choosing one.

Why Property Management Is Essential for Landlords

For those who may not know, managing a rental property is no easy feat. From maintenance to ensuring all legal prerequisites are met, a landlord has a lot to keep track of and comply with.

As someone who manages multiple properties or is simply busy, it is all too easy to lose control of day-to-day processes. Good thing for landlords, there is no need to worry since there are companies that specialize in property management.

These companies will ensure that the operations of your rental property business will run smoothly on a day-to-day basis. For example, they will make certain to screen potential tenants while also adhering to the multifaceted rental laws and policies related to Boston.

It is especially common for most landlords to grapple with tenants who tend to pay rent late, struggle with uncooperative tenants, or face legal issues. Let a company take care of these issues so you can focus on other more important matters.

How to Choose the Best Property Management Company

When deciding how to improve the management of your rental property, it’s crucial to choose a property management company that aligns with your goals and expectations. This makes it important to list down your goals alongside the property manager’s past experience and range of services offered in order to come to the right conclusion.

Here’s a closer look at how to choose the best property management company for your asset:

Experience and Reputation

Always ensure a company has a good reputation and solid reviews on property management. Conduct a broad search online to check reviews, ask other landlords, and see if they have handled properties similar to yours in the past.

Having years of experience on the belt of a company is good as they will be able to tackle issues efficiently while still keeping reliability as their top priority. It would also be ideal to see if they focus on the Boston rental market, since having knowledge of the local trends and tenant needs will only make your property more appealing.

Knowledge of Local Laws

Boston has various laws surrounding rentals and leases. When choosing property managers in Boston, it’s important to find someone who understands the local rental market and regulations.

on from expensive disputes while ensuring that your tenants are given the security they need. Ask them how they ensure to remain updated on the Boston laws while being legally focused. This, in return, will allow a more precise decision to be made.

Communication and Transparency

A property manager is expected to focus and prioritize the needs of landlords, tenants, and the rental property. Seek a person with outstanding public relations ethics who is keen on ensuring that you are well updated on the status of your property.

From giving information, updating, sending reports on finances, and handling rent payments from new tenants, their openness builds trust. You will want to steer clear of hidden fees and a lack of honesty.

Range of Services

Factors like rental or marketing strategy might change depending on the property management company. With such variety, it is relevant to understand whether they cover tenant screening, maintenance issues, legal documentation, and marketing activities. Do they help with the collection of rents and emergency repairs?

Ultimately, it is useful for landlords in Boston to understand these factors when picking a property management company to ensure their needs are met excellently.

Since the outbreak of the coronavirus in the US, the commercial real estate needs of US businesses have been evolving. The obvious trends are that companies are downsizing office spaces or shuttering retail locations. This makes sense with employees working from home and students studying online. Markets are seeing shifts in the way businesses and local consumers are interacting (or not) with local real estate.

Rofo.com is a commercial real estate marketplace for businesses who are searching for office space, a retail location, or warehouse space.

Starting this week, we will begin publishing notable small business leasing and demand trends and anecdotes we are witnessing on rofo.com It is not all doom and gloom. In fact, our active monthly users (companies searching for real estate) are now higher than the months leading up to the realization of the pandemic.

For the month of October in Michigan, we have seen an uptick in leasing demand in Grand Haven, Bay City, Saline, Plymouth, and Ann Arbor.

This demand is coming from local retailers, financial services firms, marketers, consultants and manufacturers. These are companies that are seeking new locations driven by changes related and unrelated to Covid 19.

If you are interested in getting more information about our data please contact Rofo. And if you are a Michigan business looking for a new location you may post your real estate requirements on Rofo to see what your options are.