When you’re ready to hand over the keys to your investment property, you want to be sure you’re hiring a qualified professional like Link Living, who will take good care of your asset. Here are ten important questions to ask any potential property manager before signing on the dotted line.
1. What experience do you have in managing rental properties:
The first question you should ask a property manager is how long they have been in the business and what type of experience they have managing rental properties. This will give you an idea of their level of expertise and whether they’re qualified to manage your rental property.
2. Do you have any experience with my type of property:
If you have a specific type of property, such as a condo or townhouse, you’ll want to make sure the property manager has experience with that type of property. This will ensure they understand the unique challenges of managing your type of rental property.
3. Can you provide references from past clients:
If a property manager is reputable and has happy clients, they should be able to provide you with references from past clients. This will give you peace of mind knowing that other landlords have been happy with their services.
4. How do you screen tenants:
Screening tenants is one of the most important duties of a property manager. You’ll want to ensure they have a thorough screening process, including a credit check, criminal background check, and employment verification.
5. How do you handle maintenance and repair requests:
Maintenance and repairs are inevitable with rental properties. You’ll want to make sure the property manager has a system for promptly handling maintenance and repair requests.
6. What is your policy on late rent payments:
It’s important to know how the property manager will handle late rent payments. You want to be sure they have a fair but firm policy to encourage tenants to pay their rent on time.
7. How do you communicate with landlords:
As a landlord, you want to be kept in the loop on what’s going on with your rental property. Make sure the property manager has a system for regularly communicating with landlords.
8. What is your policy on deposits:
The security deposit is one of the most important aspects of the lease agreement. Therefore, you’ll want to ensure the property manager has a clear policy on handling security deposits.
9. What is your fee structure:
Before signing a contract, be sure to ask about the property manager’s fee structure. You want to be sure you understand all of the fees you will be responsible for.
10. Do you have any questions for me:
This is an important question to ask at the end of the interview. If the property manager doesn’t have any questions for you, it may be a sign they’re not fully prepared to manage your rental property.
In conclusion, these are ten important questions to ask a potential property manager before hiring them. By asking these questions, you can be sure you’re hiring a qualified and reputable professional who will take good care of your rental property.