Do You Need a Property Manager?

[Steve Rozenberg]

What Are Some Good Tips on Hiring Property Managers? 

[Brian Corbett]

1. Find a property manager that is also a property investor.  If they are, then they should understand the owner side of the transaction and bottom line at the end of the year.  If they don't own property, MOVE ON!!  THey are simply in management for the money and you will likely get picked apart each month.

2. Find out if they consider the maintenance as a profit center of their business.  I do not make any money on maintenance for any properties that I manage, but most do.  Seems to me to be a bit of a conflict of interest.  Just my personal opinion. 

3. Make sure they do full checks on potential tenants that apply and don't just rent to the first person with security deposit and first months rent. 

Some other questions:

Do they hold money in reserves?  If so, how much?

What are their maintenance limits before notifying a property owner?

Are there any other fees outside of management fees that may be owed by the property owner?

When are property owner distributions sent?  How are they sent?

Hope these help!