Property managers are instrumental in keeping property occupied and well maintained. They also ensure that the tenants are happy with the property and pay rent on time. Here is a list of questions to ask a property manager before actually hiring one.
1. What’s Your Experience As A Property Manager?
Be sure to know for how many years the property managers have been doing their job. Ask questions that will give you a peek into their knowledge about the property management field.
2. How Many Properties Do You Currently Manage?
The reason for asking this question is to ensure that the property manager you are interested in is not overloaded with work. They should be able to manage your property effectively.
3. What Services Do You Offer?
You should look for a property manager who can market, lease, manage and even sell property in addition to providing great maintenance, inspection and screening services.
4. What Do You Do If A Tenant Is In Arrears?
A property manager should be able to clearly provide you with the details of the company’s policies in case a tenant defaults in making payments. Ask them particulars such as when to expect money in your account, the measures that the property manager will employ to extract rent and whether he/she will enforce late fees or not.
5. What Are The Provisions Regarding Urgent Maintenance?
Ask how the agency plans to deal with urgent conditions and whether they will provide emergency maintenance services or not.
6. What Marketing Strategies Will Be Adopted By The Agency To Attract Tenants?
A good property manager should have a clear marketing strategy to fetch you quality tenants. They should have a plan on how to advertize the property, and should be willing to conduct in-house inspections on weekends or after standard business hours.
7. What Is The Process Of Screening Tenants?
Thorough screening procedures are signs of a good property manager. They should have an elaborate database of quality tenants. The screening process would involve assessing the credit worthiness, rental history, employment status etc.
8. What Is The Cost Of Managing The Property?
The property dealer should provide you with information regarding management fee, administration fee etc. along with total cost that would be asked in return of the services they provide.
For more information, contact Lone Star Realty & Property Management, Inc. We are located at 1020 W Jasper Drive, Killeen, TX 76542. You can also call us at (254) 699 – 7003.