Are you thinking of hiring a property management company? Then you need to ask the right kind of questions. With the right questions, you stand a high chance of selecting an efficient, effective and reputable property management company.

Here are some general questions to ask a property manager before hiring them.

• What areas do you cover, and do you have people on the ground in those markets?
• How many properties do you currently manage?
• What is your tenant placement fee for an SFR?
• What is your monthly % you charge to manage?
• What is your renew fee on current tenant?
• How do you market the property for a new tenant besides MLS and there filtering sites?
• How do you do properties showing?
• What types of properties do you manage?
• What are your normal deposits?
• Do you have a pet deposit required?
• Do you have a money back guarantee for tenant placements?
• When are your landlords’ payments made during the month?
• Do you keep a property reserve?
• Who holds the tenants deposits?
• How long a lease do you normally do?
• Will I have a designated person managing my properties as an account manager?
• Is you firm availability around the clock for the owner and the tenants?
• What is you screening process for new tenants and what is the minimum credit requirements?
• How do you determine the monthly rents, and do you clear that with the owner before presenting to the prospective tenant?
• What is your timeline for evictions?
• On average, what’s your occupancy length for renters?
• Do you keep all late fees?
• How often do you look you do property inspections in-side and out?
• If you make the payment to the HOA each month, is there a fee for that?
• Does you firm have a relationship with the HOA?
• Once the tenant moves out and the utilities need to be turned on. Is there a fee for that?
• Do you require renters to have renter’s insurance?
• Is there an upcharge on you make ready expense from the contractors?
• Do you show the contractors invoices on the portal?
• Are there any accounting fees to prepare year end statements, 1099, YTD Cash-flow statements, Etc.?
• What software do you use for you client portal?
• What are you typical time from on evictions?
• Once evicted explain how your firm collected repairs that were not covered by the deposits?
• When do you issue notices and how long to you require before requesting a rit from the courts?
• Do you promote section 8?
• Can you give a few References?
• How well-versed are you with the Federal Fair Housing Rules?

For More information or if you have any questions, call me anytime at 855-326-6802 or schedule a call with a Loan Specialist.