There are many benefits to employing the services of a property manager. Property managers can efficiently and effectively see to your investment property, saving you time and stress and ensuring you get the results you need by managing tenants and overseeing legislative requirements.
Now that you’ve decided to partner with a property manager to take care of your investment property, it’s important you find the one who’s right for you and your goals. Here are some questions you should ask when interviewing property managers to ensure you find one who has your best interests.
- How do you market available properties for lease?
- How much information is obtained from applicants for properties, and what information is verified?
- What documented systems are in place for property management?
- What is your process for dealing with rent arrears?
- What is your process for dealing with repairs and maintenance?
- What is the experience level of the staff members who will be leasing and managing my property?
- What training programs do the property management team invest in each year to keep up to date?
- How frequently will you transfer my rental funds into my account? May I see a sample statement?
- Can you send me rent statements by email and deposit my money in my bank account electronically?
- How frequently will you inspect my property?
- When will the first inspection of my property be?
- How many people will I be dealing with from your office, and who?
- Can I have online access to my information?
- What references do you have from satisfied clients?
- Do you provide an experience guarantee/promise?
- Do you have documented experience standards?
- What back-up staff are there in the event my property manager is sick or on holidays?
- How frequently will the agency communicate with me, and what form will it take?
- Will the agency only call me when there is a problem?
