Interviewing Potential Property Managers - Important Questions

[Kyle Mccaw]

On a weekly basis we come across landlords that have been burned by poor actors in the property management space.

When you are interviewing potential property managers, it’s important to ask the right questions. Finding a qualified and trustworthy property management company you can build a long-term relationship will help ensure your investments succeed and grow. Be sure to ask these questions when talking to potential property managers:

1. Are you licensed? In the state of Texas you are required to have a Real Estate Brokers license in order to own a Property Management Company.

2. Are you insured? Having an insured property manager company is important not only to your peace of mind, but it shows that you are working with someone who cares about your investment and takes their business seriously. Liability and E&O insurance are a must.

3. What is included with your price? Yes, we are all looking to save money where we can but always be aware of what you are actually paying for when it comes to property management companies. Some will include photography for your property or it may be extra. Be aware of everything that their price covers and more importantly what it does not cover. Low cost providers may not have enough resources to provide the same level of services than "higher" priced firm.

**Bonus read all their Google reviews. Expect many 1 stars from tenants that don't want to pay rent. It is important to see how the manager responds. And look for landlord reviews. Landlords rarely review property managers but when they do it is worth reading.