4 Guide Questions to Ask When Hiring a Property Manager
Being a landlord isn’t as easy as it looks. Property management is more than just collecting rent at the end of each month. It also includes coordinating with maintenance, keeping track of the property, and creating monthly reports about everything.
If you want those responsibilities to go to someone else, you need a property management firm in your area. But before hiring the first company you find, you need to know a little more about the business you’re entrusting your property to and if they are truly up for the challenges ahead. Here are some great guide questions that every good property manager should have no problem answering:
5 Interview Questions to Ask When Hiring a Property Manager
How Many Years Have You Been in the Property Management Business?
While years of experience don’t necessarily mean being qualified, it can help when it comes to property management firms. Companies that have been doing this longer are most likely to have developed a set of practices that deal with the responsibilities of managing a property. Businesses with at least five years should be more appealing in your considerations.
What Services Do You Offer?
Property management firms can sometimes offer more than just management. Great companies can serve other fields of real estate, such as selling property and giving real estate consultations. Hiring a firm with these services is a definite advantage, even if these aren’t in your plans right now. But in case you do need these services, you would know exactly whom to call.
What is Your Management Style Like?
Technology has made a lot of things convenient for people nowadays. Some property management firms have online systems that allow tenants to pay their rent and other bills with a click of a button. The same can be said for informing owners about the state of their property.
Dropping the cash in the mail or sending someone to go out and collect it manually can be hectic for your tenants. If the process of living in and managing the space is easier, then that adds value that cannot be ignored.
What are your Rates and Fees?
Some firms have flat fees that you pay monthly. Others don’t charge if no tenants are living in the property. And of course, there are also miscellaneous fees. Ask about the total cost. Companies may promise low rates but slap you with various fees. Aside from skill, you need to work with a company that is entirely transparent with you about their process and charges.
Choosing property managers is not easy. Not every firm is the best fit for your property, especially if they seem disingenuous or unqualified. Rates also vary from one to another, based on experience and the services they offer. But beyond credentials and recommendations, the best property manager for you should be reliable and responsible. They should do the job right.
If you want to ensure that your property is well-managed, consider hiring the best property management company in Jacksonville, Florida. Quest Management Group is a full-service real estate company that can take the responsibilities off your hands. Contact us today and let us handle your day-to-day operations.