What should you look for in a property management company?

by Liz Nitz

Range Properties MT got into property management at the request of a few real estate clients. These clients had purchased property that they would use part time, or the property was simply a hometown investment. When we agreed to take on this new role, we were only managing 4 properties and did not really intend on growing that end of our business.

Haha, fast forward 20 months, and we are at 36 properties under management. We have never advertised – our property management clients are our real estate clients, past and future. 

 

In those 20 months, we have learned a lot about what it takes to be the best in property management. Here is our list of things to look for in a property management company:

 

  1. How is the company organized? Specifically look for guest interface and frequency. 
  2. What is the response time if a problem arises during the guest stay? At Range, all guest interaction is monitored by Liz or Sinclair. We typically respond to anything in under an hour.
  3. Are the property listings professionally presented on all rental sites? At Range, we hire a professional photographer for all of our rentals at our expense.
  4. How is pricing for the rentals set? Range uses a pricing tool that we set the parameters on, allowing us to seasonally adjust pricing for maximum revenue for our owners.
  5. How is the cleaning handled? It is SO important to have a spotless rental. At Range, our cleaning team works for us and knows our standards. We also have each home checked after the cleaning and before each guest checks in. This allows us to make sure there are no cleaning misses plus ensure there is a good stock of all supplies.
  6. How is billing and invoicing handled between the owner and the management company? There are a few ways to do this, but the most important thing is that it is transparent and that the manager is available for questions. Our Range invoicing is very clearly labeled, and we are always just a text or phone call away for questions.
  7. How much does the property management company charge? And what is included for this cost? Are there set up fees? Management companies vary widely, and the least expensive is not necessarily a good value. Fees need to be assessed against the entire package.
  8. Other questions to ask: Can the property management company accommodate same day turns which helps increase your occupancy; does the property management company have vendor relationships to help solve maintenance issues quickly; what are the ratings of the properties that the property management company manages?; on what platforms does the management company put rentals?
  9. Lastly, do you feel that this company has time for you and for your properties? Will they be timely communicators and care about the guest experience and your experience with them? Because Range is interested in making the real estate asset as valuable for our clients as we can, we will always work hard so that our client has the highest level of satisfaction with us. To accomplish this, we continue to become more efficient with our work processes, utilize technology, and hire more help as we grow. The end result is a positive relationship with our clients who feel individually attended to, a cash flowing real estate asset, and very happy guests.

 

Please reach out to us if you’d like to discuss what makes a great property management company!

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2316 Gallatin Green Boulevard 17, Bozeman, Montana 59718

2316 Gallatin Green Boulevard 17, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,530Sqft
Beautiful 3 bed 2.5 bath 1530 square foot condo with an attached 2 car garage. This unit features gray cabinets, white hard surface countertops, stainless steel appliances for a great modern feel. Wonderful location close to walking trails, parks, gym, Costco, Target, etc. 3rd bedroom does not have a closet but seller with work with buyer and show them options. AC is an available upgrade.
$445,000

3271 Warbler Way A, Bozeman, Montana 59718

3271 Warbler Way A, Bozeman, Montana 59718

3Bedroom(s)
1Bathroom(s)
2,614Sqft
Introducing Skyline Vista, a luxury condo community located on the park in Cattail Creek. With over 2600 +/- sq. feet of living space these 3 bedroom condos live large with a long list of premium upgrades. First floor family room provides a great multi purpose room or office.
$775,000

289 Heights Circle, Bozeman, Montana 59718

289 Heights Circle, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.61Acre
2,011Sqft
Custom Home with Additional Income Apartment and a Separate Office Space on .61-acres across from a 5-acre park! This home, built by Dan Jones, has a vaulted ceiling with alder stained trim and door package. The extra-large kitchen has quartz countertops, ceramic tile backsplash, and stainless-steel appliances. The living room features large windows and a beautiful rock fireplace.
$990,000

2938 Warbler Way 16, Bozeman, Montana 59718

2938 Warbler Way 16, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,392Sqft
Elkhorn Condos are designed by Locati Architects. This is an end-unit 3 bedroom condo located near shopping and public transportation, trails, ponds, playgrounds. All bedrooms are located upstairs. There is a one-car attached garage. The main level includes a galley kitchen that opens to the dining and living room.
$445,000

102 N Chouteau Avenue, Bozeman, Montana 59718

102 N Chouteau Avenue, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.23Acre
1,920Sqft
This home is calling you! It's centrally located with great access to all things 'Bozeman'. This is where neighbors come over for a 'backyard movie night' and sidewalks are filled with chalk drawings and people chatting. The outside has very nice curb appeal. The lot has plenty of mature trees and garden boxes. AND, how about your own water well for lawn and garden irrigation.
$699,000

3124 Augusta Drive, Bozeman, Montana 59715

3124 Augusta Drive, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
0.25Acre
1,948Sqft
Located between downtown and the Bridger Mountains across the street from the Bridger Creek golf course, this single level home backing up to open space boasts an open floor plan and vaulted ceilings. The spacious living room features a gas fireplace and large slider out to your back deck to enjoy the views.
$850,000

986 Cassandra Ln Unit A, Bozeman, Montana 59718

986 Cassandra Ln Unit A, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,769Sqft
BACKS TO OPEN SPACE! This condo feels more spacious due to its ideal location. Easy access to trails, parks, schools, and shops! Unit has 3 bedrooms and 2.5 baths and a 1 car garage.
$610,000

120 Kimball B, Bozeman, Montana 59718

120 Kimball B, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
2,433Sqft
This charming 4 bedroom, nearly 2500sq/ft, condo is not one to miss. The beautiful kitchen features granite counter tops, and plenty of entertaining space. The bonus room on the east side of the condo is a wonderful addition to the living space of this home. The 2-car garage has plenty of space for all your toys.
$695,000

3155 Cattail A, Bozeman, Montana 59718

3155 Cattail A, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,535Sqft
Great end unit in duplex building, with all new paint and carpet. Located in an established neighborhood with open space, trails, parks, ponds, and views. This place is move-in ready and awaiting your personal touches. Great light with lots of windows in this open main level floorplan with half bath on the main level.
$499,000
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