How to find a great multi-family property manager

[Steve Chan]

What is the most effective way you’ve found a great property management company? I’ve been using apartments.com and searching apartment communities that meet my investment criteria in my target markets and then compiling my own data base once I determine their PM company. I’ve found this method to be effective, but very time consuming. I’ve also gotten a few referrals from trusted sources. Any other suggested strategies would be greatly appreciated.

[Joseph McGranaghan]

@Steve Chan

Hi Steve.

I am a property manager here in New Hampshire. The two best questions you could ask a potential manager is what are their systems for tenant retention and what are their systems for filling vacant units. Vacancy is your biggest expense as a property owner so knowing how they keep and get residents is the most important thing. A good management company should have a quick stellar answer to these two things without hesitating!

Good luck!