lf you’re thinking about investing in rental property in Oxford (or anywhere), it is important to hire a property manager for several reasons, especially if you’re not planning to live in the same town as said property. When choosing a property management company, here are some things to consider.
Your property manager needs to be available, or have staff members to be accessible, for any emergency that arises with your property, within reason, of course. They should have a list of handymen, plumbers, electricians, etc. that can be called on for any type of repair emergency.
Your PM needs to be aware of things going on in your condo complex or neighborhood. They need to attend the HOA meetings in case you are unable to be there. They should also keep you informed of any important issues. These issues include, but are not limited to assessments, construction plans or change of policies. It is also a MUST to keep records of requested repairs.
You, as the owner, need to be able to contact your PM regarding issues with your property and get a response in a reasonable amount of time. It is standard that your call/text/email be answered within one business day, depending on the level of urgency.
Property managers generally handle the turnover of moving between tenants, as well. This is the toughest, most important phase. There are several moving parts, and so many things to keep up with. Taking pictures at move-out for damage (or the lack thereof) is also extremely important!
Please reach out to us here at POCS if you would like some property management recommendations. There are several available options in the Oxford area!