Questions to ask a Property Manager Before Hiring Them
A property manager or property management company can help you with your first or next residential or commercial real estate undertaking. Managing a property is a lot of work. For many landlords, they are unable to keep up with the day-to-day tasks required of them, whether it be collecting rent, maintenance issues, or tenant disputes. If you are unable to care or attend to your property, you can lose tenants, which will increase vacancies and lower your ROI.
If you’re ready to hire a property management company to help manage your building, you want a reliable, qualified company. You want a company who is pleasant but firm with tenants. You want a company that is good at communicating. You want a company who is organized and pays attention to details. You want a company who is honest but doesn’t overshare. You want a company that is always learning and passionate about the job.
Now, how do you find a good property manager? Do your research and interview the company!
Our team at HOWE Real Estate wanted to share with you some questions to ask when searching for a property manager for your building.
20 Things to Ask a Property Manager That You Want to Hire
What property management services do you offer? Inspections? Maintenance? Rent collection? Background checks? Tenant screening and searching?
How many rentals do you manage? You want to find out how experienced the company is with managing properties. Aim to find a company who manages 200 to 600 units.
How do you determine the rental prices?
Do you invest in the real estate market?
How can I cancel my management agreement with you?
What is your average monthly fee? Flat rate or is it based on rent amounts?
Is there a few if the properties are vacant?
What miscellaneous fees could I expect?
Do I have to use you to sell the property if I choose to sell someday?
Can you direct deposit to me?
How do you collect rent from tenants?
Do you conduct property inspections, and do you charge for them?
Do you offer an eviction warranty?
How do you look for tenants and market properties?
What is your tenant-screening requirements for tenants?
Are your vacancies longer than 2 to 4 weeks?
What input can I have in the lease?
Do you mark-up for maintenance and repairs? You don’t want them making a profit off maintenance.
Will I get updates on my portfolio? How often?
How many different people from your company will I interact with?
Looking for Louisville Commercial Properties for Sale?
If you’re unable to manage your property, you need the help of a property management company who can focus all its attention on your tenants and building. But before you manage a building, you must own one! Need help searching for a commercial property in Louisville? At HOWE Real Estate, we can help!
We can help you buy or sell a property in Louisville. Louisville is the perfect place for investing in retail property. Let our team of professionals at HOWE Real Estate help you get started on looking for a Louisville multi-family property or other commercial real estate in Louisville. We work with buyers, sellers, lessors and lessees across all property types in and around Louisville. To contact us, send us an email or call 502-890-4475.