These questions will be helpful when your seeking a PM company.
1. How long have you been in business?
Call references prior to hiring the company.
2. Which property management services do you currently offer?
Be sure that this company offers all services that meets your needs!!!!!!!!
3. Can I cancel my contract without penalty if I'm unhappy?
Avoid! companies that try to lock you into a contract. You should be able to switch management companies if the service is TRASH!.
4. What's your procedure for qualifying tenants?
Learn whether the company uses background, employment, credit, and landlord reference checks as part of their screening process.
5. What is the average vacancy rate among the properties you manage?
Determine if this vacancy rate is above or below the area average.
6. How often will you provide me with updates about my property?
You should be able to obtain information about your property as often as you'd like. THEY should send a update/notice EACH Quarter!!!!!!!!!
7. What's your process for handling service requests?
You'll want to know what the process is for tenants to communicate service requests to the PM, as well as your role in the process. Will you be making final decisions about repairs and maintenance? Can you require authorization for any expenses above a certain amount? Look for a company with a well-thought-out process.
8. How long do units typically stay vacant after turnover?
Look for companies that will have units rent-ready and leased up again within 30 days, which should give them plenty of time to refresh the unit and perform any repairs.
9. Are there miscellaneous fees that I should expect to incur?
Some companies charge EXTRA! for marketing units, evicting tenants, turning over units, etc.
10. Do you collect management fees when a unit is vacant?
If so, RUN RUN RUN
