Questions to ask your potential Property Management Company

[Mansoor Fazel]

So after looking through a bunch of posts and copying all the best questions, i figured i would share them with you, because sharing is caring. :)

1. How much experience do you\your company have?
2. How many units do you currently manage?
3. What type of properties are they? SFR, Condos, Apartments?
4. Whats your vacancy rate?
5. Do you have any owners i could contact, as a reference?
6. How does your pricing work? (% or fee based )
7. How do you monitor the property? How often do you inspect?
8. How do you document the condition and handle enter\exit inspections?
9. Do you personally show the property, or do you use a drop key system?
10. At the end of the month, how many properties are delinquent?
11. How many evictions have they had to do in the last 2 years
12. Are they currently involved in any lawsuits
13. What type insurance coverage do you carry? i.e.- E&O?
14. How many managers do you employ?
15. Whats the average length of time it takes to fill a vacancy ?
16. Can i see a copy of your standard lease agreement?
17. Can i make changes to the lease ?
18. How does the eviction process work?
19. Do you have any “add on” fees (hidden fees )
20. When do i receive my rent checks?
21. are they direct deposited?
22. Where do you list your vacancies? ( Ads, website, craigslist )
23. Does your contract require an exclusivity clause for the listing?
24. Do you charge during vacancy?