Many Sherman Oaks homeowners who have found themselves in the position of becoming an accidental landlord are quickly overwhelmed with maintenance call, collecting rent, and screening tenants. A good Sherman Oaks property management company can maximize your cash flow, free up your time, and make sure your property is well-maintained.

Many Sherman Oaks  property owners underestimate the amount of time, as well as the knowledge and skills, required for effective property management. While the typical fees charged by Sherman Oaks property management companies range from five to ten percent of the rental price of the property, these real estate professionals ensure you get the highest rent possible for your property, the most reliable tenants, and use reasonably priced, skilled tradesmen to maintain your home. With the value proposition Sherman Oaks property management professionals bring to the table, property owners realize an appreciable return on their investment in their services.

Here are a few tips to assist in your search for the best Sherman Oaks property management company.

1. Find a Sherman Oaks Property Management Company that Specializes in Your Type of Property

Some property management companies focus on commercial properties, while others handle only vacation rental homes and residential property management.  If you have a single family home, it is best to use a company that specializes in rental  homes as opposed to apartments and condos, since the maintenance and marketing of single family rental homes is slightly different.

2. Check References and Interview the Property Manager

The ideal property manager has working knowledge of your properties neighborhood, which is invaluable when pricing the rent for the property so you get the highest amount possible, while  still not having the property still vacant for weeks. When interviewing the Sherman Oaks property manager, ask about their plans for marketing your property, their process for screening clients, how they handle repairs and maintenance issues, and the company’s policy and procedures for handling problematic tenants. A reputable Sherman Oaks property management company should be able to give you a list of references of past and/or current clients.

3. Allows You to Participate the Decision Making Process

When interviewing a Sherman Oaks residential property management agency, discuss the role you want to take in the decision making process. For example, some property owners prefer to give final approval of tenants, while others prefer to allow the property management manager. Additionally, establish a threshold where you need to approve maintenance expenses and repairs.

4. Verify that You Will Receive Monthly Statements

When you make arrangements with a property management company for the rental of our home, make sure to verify that the property manager will send a monthly statement of your account. While come Sherman Oaks property management companies send out quarterly statements, you do know want to find out at the end of the quarter that the unit has been vacant.

5. Check the Credentials of the Contractors and Subcontractors.

The property management company should give you the contact information for the contractors they use when maintenance issues and repairs arise with your home. Check to make sure the contractors are licensed, insured, and bonded.

By choosing the best Sherman Oaks property management company, you will optimize your cash flow and rest assured your property is well maintained.