A lot of times, one of the first questions property owners ask potential managers is: what are your fees? This should not be your first question when interviewing a property manager. If you were to walk into a doctor’s office for an ailment, your first question would not be about the cost to diagnose your ailment. Here are five questions you should ask instead.
Ask a property manager if they have handled many evictions. That isn’t something many people like to talk about right away, but you want to make sure the professional you trust with your property will know how to take care of that property and remove a tenant who isn’t paying rent or following the terms of the lease. So ask about their eviction experience.
Talk about the types of marketing your property manager will do when the home is vacant. You want a marketing plan that will attract the best and most qualified tenants to your home.
Ask how long it takes to get a tenant into the property and what kind of vacancy time you can expect. The number of days your property sits on the market will directly impact your bottom line. So you want a vacancy to be filled right away.
You have to know what a property manager’s screening process is. Tenant screening will help get the best prospective tenant for the long term and in the short term it allows a property manager to develop a relationship with your tenant. There should be a credit check, income verification and a background check. At New Bridge Management we also do a check for criminal backgrounds and past evictions. The last thing we want to do is to rent to tenants who have been evicted in the past.
Knowing how a property management company handles their work orders will tell you how much money will be saved or lost by working with that particular property manager.
For additional tips on finding the best property management company, please contact us at New Bridge Management.