Property managers provide an invaluable service to all types of landlords. Whether you own a single rental home or have dozens of commercial properties that need to be managed, these services are a huge benefit and help to keep all property well maintained. However, the quality of the service you receive will be based solely on how professional the company you hire happens to be. In order to be certain you have found the best, here are the Top 10 Questions You Should Ask a Property Manager before you sign any agreements.
#1. Do you have a large contact list of real estate companies that help to match rentals with renters?
#2. Do you advertise properties regularly to ensure they are consistently rented?
#3. Do you assist clients with property that is for sale by managing open houses and inspecting the property before a walk through by a potential buyer?
#4. Do you provide updated monthly reports that include income, expenses and any repairs that have been made and may need to be performed?
#5. Are prospective tenants carefully screened with background reports, criminal record checks and proof of income prior to allowing them to sign the lease?
#6. Will tenants be treated respectfully and be able to reach someone any time they have a question about maintenance, rent or neighbor relations?
#7. Will the property be inspected regularly to prevent damage by tenants and identify maintenance issues early?
#8. How do you bill for your services? Is it a set monthly rate or do you receive a percentage of the rent?
#9. How are maintenance and repairs handled? Do you notify in advance that repair work will be done and do you perform the work yourself or does a contractor handle these issues for you?
#10. Are you qualified to handle evictions and attend small claims court if the situation arises?
You need to know that a management company is professional, prepared for any event and are upfront with everything that occurs on your property. Check reviews of their service and speak to other clients who use their services. It is a good idea to view other properties they manage to be certain their promises about maintenance and tenant screening are genuine. Use these Top 10 Questions You Should Ask a Property Manager to get your conversation started, but always feel free to add any additional questions you find pertinent.