Property Management

[Howard Salpeter]

I am interviewing property management companies for a 65 unit apt building. Does anyone have a form or questionaire they use? Thanks

[Wendell De Guzman]

You can ask him the following:

Accounting
- what is your bookkeeping software?
- how do you store & track receipts?
- how do you track income and expenses? show me your record-keeping
- how do you invoice/bill tenants, contractors, vendors, etc.

Leasing
- what is your average leasing period
- what marketing do you use to fill up vacancies
- how many showings do you do every week per property
- what is your screening criteria
- what is your script when talking with prospective tenants over the phone
- how do you show a vacant unit
- how do you do a criminal background check
- do you check the applicant's credit history
- how do you verify employment
- how do you verify landlord/rental history

Eviction
- what is the eviction process in the counties where your properties are at
- when do you issue a late notice
- how do you talk with a tenant who has not paid the rent
- who is the eviction attorney he uses? why?
- do you listen to the tenant's sad stories or excuses and work a payment plan or arrangement or do you issue the late notice immediately and start the eviction process

Rent Collection
- how do you collect the rent
- how do you track late fees
- do you bill or invoice the tenant for their upcoming rent
- do you accept cash as rents

Repairs and maintenance
- how do you pay your contractors
- what is an emergency repair item to you
- how do you respond to repairs and maintenance requests
- do you keep a repair log? can I see your record?
- do you keep a maintenance log? can i see your record?
- how much does it cost to repair a broken pipe
- how do you unclog a toilet
- what is the usual cost of a unit turnover
- how do you discipline contractors so they do not overcharge you
- can i see a copy of your contracts with contractors
- when do you use licensed, bonded and insured contractors vs handymen

Tenant Relations
- how do you talk to a tenant who is late on the rent
- give me an example of a long-term tenant
- how do you respond to an angry tenant on the phone or in-person
- how do you keep good tenants from renewing their lease with you