Owning a rental property can be exciting, but managing one can be gruesome. Even if you only have one rental property, it is crucial to make sure that everything is going right, so that tenants won’t run away from you. There are many issues to tackle, and before you get drained taking care of all of them, you might as well think of hiring a property manager. Prepare your property management interview questions so that you ace looking for the best to take charge of your property.
#1 – What Types of Properties do You Manage?
There are different types of properties a property manager takes care of – including condos, townhomes, single family rental homes, and multifamily properties. Each of these properties attract different sets of tenants, and that being the case, your property manager must have the skill sets to gain potential tenants for you. Depending on the property type you own, then you can hire your property manager accordingly.
#2 – How Many Properties are You Managing?
Those who offer rent your property services may be serving different people at a time. There are also those who find it impressive if a company manages more properties. This is because that just shows that they are effective at what they do. When asking this question, and you are torn whether to hire the manager or not, you might want to ask if there is still a plan for the company to add more properties under their management, and why they think that should be the case.
#3 – Do You Manage Other Properties within the Area?
When the answer to this question is a “yes” then you might want to hire the property manager right away. Someone who manages a property in the same neighborhood means you will be able to get a quicker response in case tenants make maintenance requests later. It will also be easier for the manager to conduct frequent inspections of the property.
#4 – How Long Have You Been Serving One Particular Client?
Your interviewee must be able to show you an answer that you want, that is, the number of months or years they have been serving their well-loved client. The longer they have been serving this client goes to show that they are trusted by that person already. With this, you can also find out if there has ever been a time when a client left, and why they did so.
#5 – How Long Does it Take to Lease a Vacant Property?
Those who have been offering property management services for a long time know how to answer this question the right way. Their answer must be compared with the average vacancy time in the market. This will give you a clearer picture of how much rental revenue you may gain or lose in time. Ask the probable factors that may impact the length of time with which a lease can be taken on a vacant property as well.
These are just some of the many questions you have in mind when hiring property managers. Whatever it is that you want to raise, feel free to list them down.