Ilian Nachev
How To Pick a Grand Cayman Property Management Company
Do you have one or more rental properties in Grand Cayman but can’t find tenants?
The best way to resolve such issues is by working with a Grand Cayman property management company. To find one that’s a perfect fit for your needs, you have to ask the right questions regarding the company’s qualifications and services.
What to Ask
By asking the following questions, you can get useful information regarding a Grand Cayman property management company’s competence to manage your property and get the right tenants.
1. Do you have specialized experience?
A property manager with years of experience managing commercial properties may not be the most qualified to manage your residential property. That’s because managing commercial and residential properties requires different skills and knowledge.
As such, make sure to verify the property manager you choose has experience dealing with your specific type of property in Grand Cayman and is up to date on relevant laws and codes.
2. How many years of experience do you have managing properties?
A property management company that’s been operating for years will be familiar with every aspect of the business. The experience of the company equips it with everything it needs to navigate the unique challenges faced by those in the field and the best ways to get results.
Simply put, working with an experienced company is more likely to get you the results you want.
3. How many rental homes do you currently manage?
Having lots of properties to manage is a good sign a property management company is successful and trusted. It also might a sign that the company is too busy to give you and your property the level of attention you need.
It’s best to work with a property manager that can allocate enough time and resources to get you satisfactory results quickly.
4. How do you communicate with clients?
Your property manager should be able to provide you with frequent updates regarding your property, at least once a month. The property manager must also be able to share information through the means you are most comfortable with, such as in-person meetings, phone calls, or email.
5. How do you advertise property vacancies?
The property management company must have a list of websites and publications where it can advertise your rental property with optimal visibility. The more visibility the property gets, the higher its chances of reaching the notice of the right potential tenant.
The company must also be responsible for scheduling showings until the property is taken. Other property management duties that should be handled on your behalf are tenant screenings to find tenants that perfectly fit your requirements and detailed inspections after tenants move out to ensure the property is in good condition.
6. Can I get references?
It helps if the property management company can provide you with references from past or present clients. The experience of these clients will give you a good idea of the service quality to expect from the company.
7. Is there a property management agreement?
The property management agreement will state the services the company will provide and the fees you’ll pay for those services. It’s a legally binding contract you can bring to court for enforcement if the property manager fails to fulfill any part of the agreement.
Contact us for Grand Cayman Property Management
Lease Grand Cayman is the property manager to trust with all your commercial and residential property management needs on the island. We are proud to serve Red Bay/Prospect, Savannah/Bodden Town, East End, North Side, Georgetown, West Bay, and the surrounding areas.