If you’re looking for a property management company to help you manage your rental property, it’s important to ask the right questions. Asking the right questions will help you find the best property management company for your needs and ensure that you make the most of the relationship. Here are the top questions to ask a property management company.
1. What services do you provide? A good property management company should be able to provide a range of services, from tenant screening and rent collection to maintenance and repair services. Ask the company about the range of services they provide, and how they handle each task.
2. How many properties do you manage? What types of properties do you manage? It's crucially important that your property manager gives your properties the attention they need and is familiar with handling tasks associated with the property.
3. How do you determine rental rates? Rental rates are an important factor in managing a rental property. Ask the property management company how they determine rental rates, and how they work to ensure your property is competitively priced.
4. How do you screen tenants? Tenant screening is a critical part of managing a rental property. Ask the company what process they use to screen tenants and what criteria they use to make decisions.
5. How do you handle tenant complaints? Make sure the property management company has a clear policy for handling tenant complaints. Ask about their process for responding to tenants and resolving issues.
6. What’s your approach to maintenance and repair? Make sure the property management company has a process for handling maintenance and repair requests. Ask about their approach and how they ensure that requests are handled quickly and efficiently.
7. How do you handle evictions? Evictions are an unfortunate part of managing a rental property. Ask the company how they handle evictions, and what measures they take to ensure the process is handled legally and fairly.
8. Will I have access to an encrypted owner portal? Transparency is key in property management. A property owner should have access to their financials to verify the date rent was received, review invoices and receipts and run financial reports on demand.
9.How is rent collected and how are owner draws processed? A tech savvy property management company will make everyone’s life easier. From online ACH rent payments to owner draws, working with a quality property manager should be as simple as a click of a button.
10. What are your fees? Finally, ask the company about their fees. Most property management companies charge a percentage of the rent collected or a flat fee, so ask them about their fees and what services are included in the fee.
Asking the right questions will help you find the best property management company for your needs. At The Joseph Group; it’s not just a rental, it’s a home. Within the real estate industry, that simply means delivering everything buyers, sellers, or rental property owners need through our group of companies that work in harmony together for your success. Reach out today by calling us at 425.250.5559 or email us to see how we can assist you with your rental property or real estate needs.
