How do you choose the right property management company…, to look after, care for and treat your property as though it was their own? The answers are fairly simple.., just look at their affiliations and License. If the property management company is a member in good standing with at least one or more of the following organizations, then you will not have to guess who to pick and hope for a good choice.
# 1: Licensed in the State of Washington as a Real Estate Brokerage. Required by law, but some companies only have a basic business license which anyone can obtain for $20 with the State of Washington. A fully licensed agency will have:
- A Master Business License with the State of Washington.
- A Real Estate Brokerage license, registered with Department of Licensing in Olympia.
- A City License for each city in which they do business when such cities require this…such as Tacoma, Seattle, Puyallup, and others.
- Insurance coverage and bonding.
- Search Dept. of Licensing database – CLICK HERE! –
# 2: Membership in the BBB – “Better Business Bureau” is the sign of a company that desires a good reputation. Some companies are not a member at all and some have a poor rating. Click the BBB logo for our rating.
# 3: NARPM®
National Association of Residential Property Managers.
Property managers who are members have heightened expertise and industry knowledge to assist them in doing the best possible job. They are real estate professionals who know first-hand the unique challenges of managing rental property in today’s constantly changing economic and legislative environment. And they know how to manage those challenges to everyone’s benefit. They can maximize rents and income for you; and they will manage the property efficiently, professionally and economically.
KNOW THE DIFFERENCE?
A NARPM® member stands apart from other property managers and landlords. Unlike many of them, NARPM® members:
- Have access to numerous educational opportunities.
- Adhere to the highest Standards of Professionalism and Code of Ethics.
- Know the landlord/tenant laws for your city, state and federal governments.
- Know rent values and vacancy factors.
- Have rental applications and consistent screening policies to meet legal obligations
- Perform thorough move-in and move-out property evaluations.
- Are personally familiar with reputable painters, electricians, roofers, chimney cleaners, carpenters, landscapers, furnace and appliance repairmen, and other maintenance professionals.
- Are able to effectively negotiate with tenants, handle difficult issues and enforce the terms of the rental agreement.
- Have the ability to recover NSF checks, evict tenants and collect bad debts.
# 4: Membership with the NWMLS, ….local MLS membership is required if you wish your home to be advertised to approximately 4,000 real estate agents and their clients. More than ever before, many good homeowners have lost their homes to foreclose or bankruptcy and must rent for one to five years to overcome economic and market conditions that forced them into an unstable situation. We want these good renters who are working hard to recover their good credit and will take better care of your home in general. – We are member office # 136.
# 5: A list of Property Management companies: www.A1-Propertymanagement.com