PropertyAngel | Property Management in Bangalore
  • Property Owners
  • List your Home
  • Tenants
  • Awards
  • Podcast
  • Contact Us
  • Property Owners
  • List your Home
  • Tenants
  • Awards
  • Podcast
  • Contact Us

How Do I Choose a Good Property Manager?

27/10/2022

4 Comments

 
When you consider everything a property manager Bangalore does for your rental properties - finding and placing tenants, collecting rent, and dealing with maintenance and repair issues - it's easy to see how important it is to choose the right one. It truly makes a difference: a good property manager can increase your profits and give you peace of mind, whereas a bad property manager can reduce your returns and drive you crazy.

In this article, we'll go over how to choose a property manager after you've decided on an investment market. We will  break down the process into five major steps:
Picture

Step 1: Generate a List of Property Managers

The first step is to create a list of property managers (PMs) who work in your market. The Google machine, as with so many other things, is a valuable ally here; just Google "property manager Bangalore" to start your list.

In your online research, you may also come across others who have done some preliminary legwork for you and published lists of property managers in Bangalore. These lists can be useful not only for brainstorming options but also for narrowing the field in Step 2.

Finally, you can ask for property manager Bangalore on online forums (such as Facebook groups devoted to real estate investing).

Step 2: Narrow the Field

Your next step is to narrow your list down to three finalists, though you could choose up to five. Remember that you'll be doing a 30-60 minute phone call with each finalist, so don't go overboard.

When narrowing your list, look for the "market leaders" in your investment area. This generally refers to the leading companies with the most properties under management. You could say, "Shouldn't I be looking for a property manager who will provide the best personal service to me and my tenants and truly care about us?" A large property manager sounds very impersonal, and I'm afraid they won't care about me or my property."

This may seem odd, but you don't want personalized service; you want established and reliable systems and processes. For example, think about Amazon: despite providing zero personal services, they consistently rank near the top of customer satisfaction surveys. This is because they provide a consistent and user-friendly shopping experience that customers can rely on. 

To narrow your list, you must identify the big players and eliminate the smaller ones. You'll know who the big players are because:   

They will have the most properties under their management. If you can't figure out how many doors they manage from online sources, just call or email them and ask.

They will have a professional website. Professional property manager Bangalore will have a strong online presence. If a PM doesn't have a website, or if it's amateurish, it's a sign they're one of the "little guys."   

They will have links to Owner Portal and Tenant Portal log-ins. This is a sign that they're using legitimate property management software, which is important to achieving process automation.

They will have listings of available rental properties on their site. While not all property managers will have this, most will. It's also an easy way for you to see how well they market their properties by looking at the photos, descriptions, etc. ​

Step 3: Interview the Finalists

Email each of your finalists, introduce yourself as an investor looking to buy properties in Bangalore, and request a phone call to clarify any doubts. Here are the five main topics you should definitely ask, along with a sample of questions for each:  

Company Info:  how long have they been in business; how many employees do they have; how many properties they manage; etc.

Fees: what is their leasing fee; what percent of rent do they charge; what fees do they charge tenants; etc.

Maintenance & Repairs:  how do tenants report issues; whom do they contract with for repairs; do they perform regular home inspections; etc.

Collections:  how do tenants pay rent, do they have a dedicated Collections team; what is their end-of-month collections rate; etc.

Leasing:  what is their current occupancy rate; how do they screen tenants; how do they market vacant properties; etc.    

Step 4: Choose a Property Manager

Based on all the information you've collected in Step 3, making an informed decision will be much easier for you. So go ahead and do it!

A PMA, or Property Management Agreement, will be sent to you by your chosen property manager. You should double-check this document to ensure it matches what you were told over the phone, especially regarding fees.

After you sign the PMA, your property manager will create an online account and log in for you, assign someone your primary point of contact, and you'll be ready to start adding properties to your portfolio!   

Step 5: Validate Your Choice

As you progress through the first few months of your relationship with your PM, analyze whether they are delivering the results you expected. Are they keeping their promises? Is your point of contact able to provide timely and accurate responses? Are the monthly statements clear? Are there any red flags popping up?

You should address any issues head-on. Use specific examples to inform your property manager Bangalore that you are not receiving what you expected. Allow them the opportunity to improve and make things right. 

You may have to do this more than once, especially at the beginning as you get to know each other. Don't be alarmed by this. Things may not go perfectly initially, but open communication and setting clear expectations are important for improvement. Your ultimate goal is to get into a good rhythm with your PM, have faith in their actions, and spend as little time as possible looking over their shoulder.

However, if there are TOO many red flags and/or the same issues keep repeating, you may need to consider hiring a different property manager. 

Conclusion

Your property manager Bangalore (literally) holds the keys to your portfolio. Selecting a competent, professional PM can make all the difference to your bottom line and your state of mind. You can also visit our website to learn more about PropertyAngel.
4 Comments
Simplease link
26/12/2022 09:05:00 am

Hi I have read a lot from this blog thank you for sharing this information. We Provide all the services like Consumer Service, Real estate, Rental apartments, Property Management, Concierge Services, Apartment Listings, Real estate investment, and Residential Real Estate.
For more information just log in to our website :-<a href= https://simplease.in /> Property Management Companies in Mumbai </a>

Reply
Semmy
6/11/2023 09:55:02 pm

Your post discusses the potential of leveraging the gig economy and freelance opportunities as viable ways to make money. It's a flexible and accessible option for many. To learn more, <a href="https://singingfiles.com/show.php?l=0&u=1799146&id=58610" target="_blank">click here</a>.

Reply
Akky
7/11/2023 07:10:47 am

Thank you for discussing the potential of leveraging online platforms, such as Fiverr or Upwork, to offer freelance services and make money. It's a global marketplace for talent. <a href="https://singingfiles.com/show.php?l=0&u=1799146&id=58608" target="_blank">click here</a> for more information.

Reply
Love
8/11/2023 08:41:50 am

Ready to make money by offering virtual assistance services? <a href="https://singingfiles.com/show.php?l=0&u=1799146&id=52558" target="_blank">click here</a> and learn how to become a highly sought-after virtual assistant in various industries.

Reply



Leave a Reply.

    Archives

    December 2024
    November 2024
    October 2024
    July 2024
    June 2024
    May 2024
    February 2024
    January 2024
    December 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    May 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    August 2020
    July 2020
    June 2020
    May 2020
    December 2018
    March 2018
    November 2017
    October 2017
    September 2017
    August 2017
    October 2016
    July 2016
    December 2015
    July 2015
    June 2015
    March 2015
    November 2014
    July 2014
    May 2014
    September 2013
    May 2013

    Categories

    All
    Covid
    Mumbai
    Property Management
    Video Blog

    RSS Feed

PropertyAngel is a leading property management company, headquartered in Bangalore. It is the most trusted property management company, that provides personalized tech-enabled services. 
 (c) 2025 PropertyAngel. All rights reserved. | Privacy Policy | Terms & Conditions
Call us: 91-7406484455 (also on whatsapp)
Bangalore Headquarters:
PropertyAngel Management Pvt Ltd
570/571 16th A Main road, Koramangala 3rd block,
Bangalore - 560034, India
https://www.propertyangel.in

Open Hours:
  • Monday-Saturday: 9:30am IST - 7:30pm IST
  • Sundays: 10:30am IST - 6:30pm IST
Useful Resources ​
  • The property Management Blog
  • Build a career in Property Management
  • Work with PropertyAngel
  • PropertyAngel Referral Benefits
  • How the Property Management Process works
  • How much do property managers charge every month? 
  • ​7 things to consider while selecting the Best Property Management Company
  • What does a Property Manager do?
  • Recommended format for Property Management Agreements
  • How do I choose a good Property Manager? 
  • NRI property management services 
  • Zoho Case Study on Property Management & PropertyAngel award
  • Rent a property managed by a property management firm. ​
  • Propathon 
  • Awards
  • Technology at PropertyAngel
  • B2B apps for the real estate industry