Property management consultants can be a great resource for owners and managers of rental properties. There are many types of property management consultants that specialize in different aspects of the business. This article will provide an overview of all the types and what they offer to their clients.
Types of Property Management Consultants
- The Generalist
The generalist is a jack of all trades and comes in many forms. They can be an expert on everything from marketing to legal issues in the rental property industry. The goal with this type of consultant is for them to have enough knowledge across the board so they know what resources are needed for any situation that may come up when managing your properties.
In addition to having broad knowledge, this property management consultant usually spends time building up their network of professionals specializing in certain areas (i.e., accountants, attorneys).
- The Marketing Consultant
The goal of a marketing consultant is to help increase the occupancy rate of your properties and bring in higher-quality renters. These professionals use their knowledge and experience working with clients to create strategic plans to help you reach those goals.
- The Maintenance Specialist
This consultant specializes in all things maintenance. They are an authority on the latest products, materials, and equipment that can be used for any situation related to the upkeep of your rental property. This is a good choice for someone who knows their building needs regular repairs but does not want to spend hours researching different options or finding contractors themselves.
- The Turnover Specialist
This type of consultant offers a variety of services related to the turnover process. They can help with finding and screening new tenants, working out lease terms, and overseeing all aspects of getting the unit ready for move-in (i.e., repairs/renovations). It is an ideal option for someone who wants their rental property filled quickly with qualified renters but did not want to handle those tasks themselves.
- The Tenant Retention Specialist
The tenant retention specialist typically focuses on steps that can be taken before a vacancy even occurs. They provide services related to getting renters excited about living in your properties and ensuring they have the best experience possible while there (i.e., excellent customer service).
As you can see, many different types of property management consultants exist in the industry. Depending on your specific needs and goals, choosing the right one is vital to ensuring your business runs as efficiently as possible, so you have time for other important tasks.