Expertise.com

Best Property Management Companies in Waco

2024

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  • Licensing
  • User Reviews
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Property Management Companies FAQs 〉

Last updated:

Website
601 Lake Air Drive, Waco, TX 76710
  • Leasing
  • Tenant Screening

Why choose this provider?

Bentwood Properties handles property management needs for residential investors. It performs leasing and tenant screening services to keep rentals occupied with the best available tenants. It manages tenant relations so those tenants are more likely to remain with clients while also servicing maintenance requests when properties need structural improvements or repairs. Bentwood Properties is experienced with full-blown construction management as well. Its financial reporting services allow clients to easily keep track of income brought in by each property.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.1
Google
3.9 / 5 (13)
Facebook
5.0 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
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Website
9900 China Spring Rd Ste 1208, Waco, TX 76708
  • Maintenance
  • Leasing
  • Property Assessment

Why choose this provider?

Compass Property Services is a company specializing in managing and maintaining properties. Its property managers in Waco offer rental property management services. Some of the company's services include listing and marketing properties, screening tenants, collecting rent payments, and maintaining properties. Compass Property Services' property maintenance includes services such as basic plumbing, electrical repairs, lawn mowing, and snow removal. They also assist property owners with tasks like painting or basic cleaning.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.6
Google
4.6 / 5 (37)
Yelp
4.0 / 5 (2)
Facebook
5.0 / 5 (1)

Website
Waco, TX
  • Maintenance
  • Marketing
  • Collection
  • Leasing

Why choose this provider?

My Real Estate Property Management caters to landlords and investors in the Waco area and nearby communities. It provides a variety of property management services, which include bookkeeping, routine inspections, rent collection, and revenue analysis. The company also works with local contractors to schedule property maintenance. For convenience, clients can access its online portal to submit maintenance requests. Real estate manager Adrienne Rowell is a fourth-generation Realtor who helps investors manage their real estate portfolios.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Frequently Asked Questions

  • What is property management?

    Property management is the business of controlling and overseeing real estate, including residential and commercial rental properties. These professionals handle general maintenance and day-to-day operations on behalf of the property owner. They’re responsible for marketing properties, finding and screening tenants, collecting rent, and preparing units between leases. They may also handle repairs, evictions, and any problems that arise.

  • What does a property manager do?

    Professional property managers perform critical tasks throughout the leasing life cycle, from preparing a rental property, through tenant move-ins and move-outs. They can also provide referrals for legal advice, home repairs, and services that aren’t covered by the management agreement. Here are some of their key responsibilities:

    • Marketing and listing vacant units
    • Processing applications and screening tenants
    • Conducting quarterly and annual inspections
    • Orchestrating move-in procedures
    • Coordinating maintenance and repairs
    • Collecting rent and applying penalties
    • Conducting move-out inspections and returning deposits
    • Handling evictions and posting quit notices
    • Complying with fair housing regulations
    • Compiling monthly expense reports
    • Preparing annual tax documents

  • How much do property management companies charge?

    Property management fees can vary substantially depending on the size of the property, number of units, and scope of service. Property owners can expect to pay one month of rent to fill vacant properties and 10% of the gross cash flow to manage the property. Investors should also account for monthly maintenance, contributions to a reserve repair fund, and early termination fees if they decide to cancel the property management contract. Evictions and other non-routine services typically cost extra.

  • How do I manage a rental property from out of state?

    Managing a property isn’t easy, and the job is even more difficult for out-of-state landlords. Thorough tenant screenings are the best way to prevent many common problems. Landlords should also maintain strong relationships with neighbors who can alert them if anything goes wrong. Investors who prefer a more hands-on approach should consider hiring a property manager to represent their interests.

  • Does a property manager need a real estate license?

    Yes, in most states, property managers must have a real estate license to advertise rentals, show properties, sign lease agreements, collect rent, and perform other fiduciary activities. A community association manager license or similar certification may also be required for professionals who want to work for an HOA or apartment complex, although this credential is optional in most states.

  • How do I find a good property management company?

    Property managers differ significantly in their approach and level of expertise. It’s important for owners to screen potential candidates to ensure that they're choosing the most qualified professional. Here are a few questions to ask during the interview:

    • How many units do you manage?
    • How big is your staff?
    • Do you have a maintenance crew?
    • How long does it take to fill vacant units?
    • What happens if my tenant doesn’t pay on time?
    • Have you ever filed an eviction?
    • What type of communication can clients expect from you?

  • Do property management companies find tenants for rental properties?

    Yes, finding tenants and filling vacancies are key responsibilities for property managers. These professionals are responsible for advertising the property, and they handle all inquiries, applications, and showings. To find the most qualified tenants, managers perform background and credit checks, verify references, and confirm the applicant’s employment information, which can prevent problems and extra costs down the road.

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