Property Management questions?
I am in CA and thought of buying a duplex in Austin as an investment. Currently, the property is fully rented and managed by a different management. Since I am new to the RE investment, I have some questions as follows:
1. What point in the escrow process should I look for a management company? and how to select the bid?
2. How do I verify what the management company promises they would do?
3. How to terminate or switch to a new management if there is a dispute?
Thanks
There should be a contract drawn up that plainly disorder the duties of the property manager and the fees. To choose a company you should interview a few, this self or persons should be license real estate professional with property management credentials. The should how some sort of education in economics and a proven track record. You should start looking now. Also your contract should have some type of release clause, with allows you to terminate if the terms are not met and maintained