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Updated almost 6 years ago on . Most recent reply
Selecting a Rental Management Company
Newbie here. Looking to hire a Short Term Rental property manager (self managing is not in the cards). I’m planning a list of questions for each company I speak to. What questions would be on your list? Any advice for those experienced with this? Thanks!
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#4 Short-Term & Vacation Rental Discussions Contributor
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#4 Short-Term & Vacation Rental Discussions Contributor
- Investor
- The worst town to live in, KS
I self manage 23 STRs, the furthest is about 6 minutes from my house. Here are some more questions ask your prospective PM what they would do.
There is a light fixture that doesn't work. What are you going to do?
A breaker has tripped. What are you going to do?
The toilet keeps on running, it won't stop. What are you going to do?
The kitchen sink drips continuously. What are you going to do?
The washing machine won't agitate. What are you going to do?
The filters need changing in the CH/A system. What are you going to do?
Some shingles got blown off the roof with a heavy wind. What are you going to do?
The same heavy wind knocked down some limbs. What are you going to do?
The router or modem isn't working. What are you going to do?
If their answer involves the words electrician, plumber, appliance repairman, air conditioning tech, roofer, lawn care or computer tech; they are worthless as a property manager. You can show them this post and tell them I said so. Most of those above problems would cost you at least $100 if you called a pro. I fix 3-5 problems like that every week, and it's routine for me.
If they pass the above simple questions, it's time for the advanced questions. (These are also situations I have dealt with.)
You find a person unconscious and unresponsive in the STR. What will you do?
You go to an unoccupied STR and find a 4 legged or feathered animal in the dwelling. What will you do?
You go to an unoccupied STR and find a 2 legged intruder in the dwelling. What will you do?
You see prostitutes coming and going from the STR. What are you going to do?
You see a stream water coming out of the house, down the driveway, and down the street. What are you going to do?