What to Ask Your Potential Rental Property Management Company
Choosing the right rental property management company is more than just picking out the first one that appears in the local strip mall. When evaluating your choices, it is important to make sure that you are looking over every aspect of the business and asking all of the right questions.
How Long Has the Property Manager Been Working in Real Estate?
One of the many important questions to ask is how long the specific property manager has been working in real estate. For purposes of your specific property, this question relates to the individual handling your property, not the agency.
The property owner who is looking over your property should have knowledge in the real estate industry and show that they know what they are talking about. Someone who has worked from the bottom up will have more appreciation for a beautiful home than someone just stepping into the industry.
Does the Property Manager Attend the Showings?
This question is one of the more important questions you need to ask and have addressed. Some property managers do not go to the showings of the house with prospective tenants and they give the key to the tenant.
If your property manager just hands out the key, many things can go wrong while the person explores the inside of your home unattended and alone. Is it worth the risk?
What’s the Process of Screening New Tenants?
Consider the process the rental property management company uses to screen new tenants to rent your home. Some property management companies have different ways they screen. Consider whether past evictions, criminal histories, and the like will be weeded out or how they are handled.
How Many Properties Does the Manager Have
Many property managers are already overloaded with homes and if you add your home to the mix, where exactly will it fall in terms of importance. If you want a property manager who is able to spend time looking after your home, then you want to choose a property manager who isn’t handling 200 or more houses at a time.
How Does the Manager Handle Maintenance
Consider how the property management company and manager you hire will perform maintenance and repairs. If you are looking to hire a company to be less involved in the process, then you may not be looking for someone to call you every single day.
Some landlords prefer to be contacted first before a repair is made and others leave a list of approved repairs that they can be billed for. Always ask about the process so you know that your home is taken care of and not placed on the back burner.
Overall Impression and Fees
Before settling on a rental property management company, weigh the price and your overall impression of the company. If you feel comfortable with a company handling your home or homes, then they are the right ones for you. Before you make a final decision, you want to make sure that you have received answers to the above considerations.