What to ask when looking for a good property manager

If you have ever looked for a good property manager, then you know how difficult it can be to find a good one for your rental property. There are several property managers out there, probably more than you really need to get your property on the market.

With so many options available, it can be difficult to choose one for your unit. But don’t worry, if you ask the right questions while searching for property managers, you’ll have a better idea of ​​who would be the best fit for your property. Ask them these questions when discussing your property to see if they are the right property manager for you:

1. What type of properties have you managed?

Experience counts for a lot in property management, and can separate the good ones from the ones to avoid. However, experience in this field is not just about the number of years worked in the field; it’s also about what kind of properties they have managed. Depending on the type of property you have, you may choose someone who specializes in managing properties like yours or someone who has a more varied experience managing different types of properties.

2. How do you screen potential tenants?

Screening potential tenants is one of the most important steps in property management, so how they do it often reflects their level of service to your property. Ask them how they will match tenants to your property and what their process is like for finding tenants. This will give you a better idea of ​​how they operate and how far they will go to find the right match for your property.

3. How do you handle late payments from tenants?

Finding tenants is just one phase of property management; the longest phase involves the management of the rental itself. Asking them this question will show you what their management style looks like and how they will deal with critical rental issues like these. See if your process aligns with what you expect them to do and how you want your property managed.

4. How do you respond to complaints?

Similar to the previous question, this question allows you to gauge how well a potential property manager will handle the landlord-tenant relationship. Remember that a property manager will act as a mediator between you and your tenant, so it is important that you are comfortable with their process for dealing with any complaints or issues.

5. How often do you carry out inspections?

Routine inspections are important to any lease, and the number of times they are done each year will help give you peace of mind as a landlord or owner. This question will also show you how well the property manager will take care of his property even after the lease starts.

6. What is the right rental price for my property?

If you have done your research beforehand, this question will allow you to assess how well a potential property manager knows the market and what they can offer you. It also allows you to get a better idea of ​​what your property is worth in today’s market. Compare your response with different property managers to see what they offer and better understand your property’s position in the market.

7. What can I do to improve my ad?

Asking them this question will not only reveal their property management expertise, but it will also help you put your property in the best position in the market. Take note of their suggestions, assess how relevant they are, and decide whether or not they can get your property where you want it to be.

8. What are the total costs and fees for managing my property?

Some have small registration fees, but a variety of hidden fees once you register and allow them to manage your property. Avoid being surprised by such fees and ask them to tell you all the administration and service fees included in their service. The more complicated your fee structure, the bigger the headache (and the expense).

9. What can you do that others cannot?

This is where potential property managers will try to sell you on what they offer and how well they stand apart from the competition. It’s also the part where you assess the intangibles in any employment relationship, giving you a better idea of ​​how well they meet your standards. Listen well, take notes, and assess whether they provide what you’re looking for.

With so many options available today, finding the right property management company can be difficult. But by asking the right questions and doing your research beforehand, you’ll find that all the hard work you put into finding the right manager will pay off. Once you find the right one, your property (and wallet) will surely thank you.