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When You’re Hiring a Property Manager, You Must Ask the Right Questions
When hiring a property manager or property management company to manage your rental properties, it is essential that you find a property manager that you trust.
Look at the property manager search process as an interview – asking the right questions can help you select a property management company that you can trust.
Some essential questions to ask when hiring a property manager
What is your property management experience in my area?
One of the first questions you should ask when doing your research revolves around the company’s experience in your specific area. It is important to understand that not every rental market is the same; therefore, you should find a property management company that specializes in your area – a company that knows the local rental market.
What are your fees?
Another important part of learning about property managers is finding out their fee structure for managing your property. Part of learning about the fee structure also involves determining which types of services you are getting for the price. For example, two companies may cost the same with one company providing more and/or better services than the other.
What is your educational and training background?
The last thing you want to do is hire a property management company that does not have the training and background needed to effectively manage your property. You should even inquire if the company has experience managing the type of property you are looking to have managed. Ask as many questions as you need to ensure that you are comfortable with the background of the company you are considering hiring.
What is your reference list and can I contact them?
When it comes to hiring others, we tend to make a hiring decision without contacting those who have experience working with the company – this is a fatal mistake. Make sure you request a reference list and contact at least one or two people who have worked with this company to obtain vital information that can help you make the hiring decision.
At the end of the day, when hiring a property manager make sure you research the company and ask essential questions to ensure you are making a smart hiring decision.
If you are looking for property managers in Birmingham, AL then contact gkhouses to learn more about how we can help you by managing your Birmingham rental houses.
Matthew is the CEO of Evernest. He is a student of the book Good to Great and is passionate about building the best property management company on the planet (and maybe even the universe if Elon Musk will hurry up). You can usually find Matthew at the baseball field with his son, at a dance recital with his daughter, or at his favorite restaurant with his wife, when he’s not in the office. And if you can’t find him in any of those places, it probably means he’s traveling.