When interviewing to hire property managers, having a list of questions on hand can help provide insight into the company, their operations and how they work with clients. The following ten questions should provide most of the initial information you need and help point you in the right direction when choosing your next property manager:
How Long Have You Been in the Business?
This is one of the most important questions you can ask, as it separates the experienced from the inexperienced. Someone just starting out will still be in the “figuring it out” stage, as opposed to a business that has been around for at least three years.
What Do Your Services Entail?
Property management firms should have an array of services to offer their clients, including lease preparation and enforcement, marketing, tenant screening, maintenance and more.
What Tenant Issues Do You Handle?
The firm you select should be able to handle the collection of rent, maintenance requests and other elements of management. They should be able to take care of your property as if it were theirs.
How Do You Screen Prospects?
The firm should have a thorough screening process in place to verify information. Some firms work with screening companies to retrieve the most accurate data possible.
How Do You Determine Rent Costs?
The property manager should determine rent costs based on a market analysis of the property in comparison to others in the area. They should also know which amenities command higher rent, and where to provide discounts.
How Wide of a Geographic Area Does Your Company Cover?
This question is key during the interview process. The management firm should be able to accommodate the properties in your portfolio. If the firm only covers one area, it may hinder your ability to grow and could end up being costly and inefficient.
What Will it Cost Me?
The firm should be able to outline a detailed breakdown of costs, including your leasing fees for when the property is vacant and rented, and additional costs that may be included in the management fees. You should explore whether or not there are different pricing options, and if there are any fees associated with non-renewals.
How Do I Get Paid?
The property management firm should be able to outline the dates when you get paid, the forms of payment, whether or not you receive payment statements and how often these elements occur.
Could You Provide References?
Every property management firm should be able to provide references to potential clients. If they are not able to oblige, this should trigger a red flag for you to look elsewhere.
How/When Can I Contact You?
Contact information should be available so the client can contact the property manager at any time. If there are any inconsistencies, this is also a red flag.
Need help finding a property management company? We have you covered! Find out more by calling or sending an email to Aria Properties for a free consultation today.