Hiring a property management company can reduce much of the hassle associated with real estate ventures. In this article, we’ll look at the top Missoula property management companies to give you an idea of who’s around if you’re in the market.
5 Top Missoula Property Management Companies
Note that this list is in no particular order. We’ve chosen which companies to feature based on our expertise having worked in Missoula’s residential and commercial contractor sectors for more than 15 years.
Rent Smart Property Management
If you’re looking for an experienced Missoula property management company, Rent Smart is hard to beat. Founders Tom and Mary Hurd have more than 20 years of experience managing their own investment properties and hold an active membership with the National Association of Residential Property Managers.
They also offer a whole host of services to owners, including market rent analysis, regular cleaning, photography, video tours, and online rental applications.
Rent Smart prices its services at a minimum of $850 monthly with additional startup fees.
Garden City Property Management
Garden City Property Management has been in business for more than 40 years. Their oldest-licensed property manager has been working for more than 35 years!
These years of experience afford Garden City Property Management a solid understanding of Missoula’s real estate market.
They manage both commercial and residential properties and will collect rent on your behalf via their online portal.
Professional Property Management in Missoula, MT
Professional Property Management has been operating in Missoula and surrounding areas since 1982.
As you might expect from a top property management firm, they offer an all-encompassing suite of services, including tenant screening, marketing, accounting, lease enforcement, retention, and maintenance.
Professional Property Management handles an equally-wide range of properties, including condo complexes and multi-family homes.
Summit Property Management
Summit Property Management connects commercial, residential, and storage property owners with qualified tenants. The company’s president, Aaron Gingerelli, is a native Missoulian and has been managing properties here since 1999.
Vice President Chira Gingerelli-Hegg got her start in the rental space in 2004.
Grizzly Property Management
Last but certainly not least, we have Grizzly Property Management. This Missoula property management company got its start in 1995 and oversees residences of all sizes.
It is still run by Holt and Jodi Corette, who started Grizzly Property Management with a single triplex.
Why Hire Someone for Property Management in Missoula, MT?
Professional property management in Missoula, MT is not cheap by any stretch of the imagination. As such, you might be wondering why you should bother instead of just handling everything yourself.
Well, here are some benefits of working with a professional management company.
Fewer Legal Problems
Being a landlord comes with substantial legal risks. Local and state authorities have implemented very strict tenant protection measures that place property owners at a significant risk of running into legal trouble.
One thing you’ll notice about the Missoula property management companies we’ve referenced in this article is that they all have years of experience.
This leaves them with a firm understanding of local laws that can prevent your property from being tied up in a messy legal dispute for months on end.
From screening tenants correctly to managing the relationship during occupancy, professional property managers have your back.
Connections
At some point, your property will need repairs – even if you have the best tenants in the world.
Property management companies typically build relationships with plumbers, heating companies, and other contractors, which makes repairs much easier on you.
Less Vacancy
Another major advantage of working with a property management company is that you’ll have access to its pool of tenants, which generally means lower vacancy rates for you.
This is a major plus because, as any independent landlord will tell you, finding good tenants – even in a university hotspot like Missoula – isn’t easy. Any time your property spends unoccupied is time you’re losing money!
Better Tenant Retention
Any good property management company will have a solid tenant retention strategy. These processes are no joke, taking up a considerable amount of time and effort that you likely don’t have as an independent property manager.
Tenant retention strategies help you keep good tenants for longer, reducing the cost of turnover (which can include things like cleaning, repairs, changing locks, and screening – not to mention lost rent).
Rent Collection
Property management companies typically have websites set up to collect rent from tenants. virtually. This is much more convenient for you as the property owner as you won’t have to keep track of who’s paid via bank transfer (or, even more complicated, cash) already.
Conflict Resolution
If and when conflicts do arise with tenants, you’ll find it very helpful to have a third party present in the form of your property management company.
Obviously, it’s in their best interest to keep both parties happy so they’re typically a good mediator.
Liability
As an independent property manager, you are liable for keeping your property up to code and dealing with any troublesome clients. This can very quickly become too much to handle if you own multiple properties and have other commitments (i.e. a full-time job or frequent travels out-of-state).
In addition to taking on some of this responsibility, property management companies open themselves up to liability if they fail to uphold their end of the bargain.
Of course, good property management companies avoid this at all costs. Mistakes do happen, however, and reputable management companies will always make it right for both you and your valuable tenants.
Conclusion
There are several Missoula property management companies to choose from. Any of the five mentioned on this list should serve you well and make investment property ownership in Missoula a relatively hassle-free experience.
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