5 Secrets to a Great Property Management Company

Picture this: After searching for the right opportunity, it finally happens–you acquire a great new rental property! You've done your research and purchased wisely, and you are thrilled by the prospect of what this can mean for your financial future. However, after a few months of renting out the home, you find you're tired of dealing with a revolving door of guests, don’t want to deal with maintenance requests and would rather have someone else handle lawn care. 

You’re beginning to look for a property management company, but you have absolutely no idea where to begin or what you should be looking for. 

Our team here at Brightwild prides ourselves in distinctly separating our company from the competitors, especially when it comes to the way we manage the property management arm of our business. 

A few things that are core to us that we believe you should look for in a property management company: 

1. Clear and Honest Communication

Our team is accessible 24/7 to both owners and our guests. It’s important to us that when you have a need or a request, you get a swift response. You shouldn’t have to play phone-tag to find out information about your property and guests should be able to enjoy their stays without any inconvenience. Check out a recent blog post we were grateful to be featured in by Redfin mentioning our recommendation for communication to always be a priority!

2. Tried and True Systems 

James Clear of Atomic Habits says it best, ‘You do not rise to the level of your goals. You fall to the level of your systems. Your goal is your desired outcome. Your system is the collection of daily habits that will get you there.’

Our team often asks: What’s working and what’s not working. We ensure every single process we operate by is tried and true, tested over and over again to make sure we’re making the best use of your time and money. 

Is the company you’re considering set in their ways or are they up for trying new methods?

3. Alignment of Financial and Business Goals 

If you’re trusting a company to manage a large asset of yours, you need to ensure that from day ONE, your business and financial goals align. 

At Brightwild, we level set with you from the very beginning of what your goals and expectations are for your property. We use automated algorithmic tools that dynamically price each unit, pushing real-time price adjustments to all distribution channels ensuring your unit is going for the best rate. 

We also use integrated and centralized accounting systems that provide you with reliable record keeping and real-time KPIs. 

You deserve to enjoy the process of owning multiple properties, not feel stressed by it all of the time. Likewise, you need to be able to know that you can trust your property management company to know and do what is best for you and your unit. 

4. Ability to be as Hands-On or -Off as You’d Like to Be 

At the end of the day, your property is YOUR property, not ours. 

While we’re always going to leave your property better than we found it and treat it as our own, you should be able to have as much or as little control over your property as you’d like. 

The property management company you select should provide you with different tiers of options as an owner that you can select. For instance, do you want to pay pest control? Do you want to personally deal with repairs? Or, on the other side of the coin, do you want your management company to handle paying all bills while also preparing your home for hurricane season? 

Make sure you have the flexibility to have a say. 

5. Never Settle at ‘Good Enough'

‘Good Enough,’ shouldn’t be satisfactory for you or your property management company. 

Whomever you work with, they should be constantly looking for ways to improve and update your listings. Examples of this can look like updated photos of your property, installing high-tech tools in your home such as thermostats, door locks and light switches, or even enabling control from in or outside of the home. 

Are you interested in potentially listing your rental property with Brightwild? Get in touch with our property management team today!