If you’ve had the experience of looking for a quality property manager, then you’re aware that this can be a difficult process. As you seek the right person to manage your rental property, you’ll find that there are plenty of property managers to choose from.
With all of the options at your disposal, it’s your challenge to select a great manager who will bring your property into the rental market and start bringing in the income it’s worth. Not to worry, we’ve compiled tips and questions that will help you be confident in the person you’ll hire to handle the rental needs of your unit.
Here are the best questions to ask when interviewing your potential property manager:
Describe the types of properties you’ve managed?
Experience is one of the best qualifiers in property management; the right experience makes a good manager. It’s not only important to take note of the years of experience a manager has but also to ask about the type of properties they looked after. Depending on the characteristics of your rental property, you might go with someone who specializes in properties of the same type as yours or with a manager who has a wider variety of property management experience.
How do you screen potential tenants?
A good property manager should have a plan for finding you a quality tenant; this is one of the most important functions of a property manager. The way a property manager screens tenants is a reflection of the way they operate and the level of service they’re likely to provide on your behalf.
How do you handle delinquent tenant payments?
Finding your tenant is just the first step of property management; the next phase comprises the management of the tenancy which is a longer and more complex process. Learn about your candidate’s management style and their confidence and abilities when it comes to tougher issues such as late rent. You’ll want to be sure that their process is on the same page as your expectations.
How do you respond when a tenant complains?
Just like the former question, this one helps you gauge whether this potential manager can successfully navigate the landlord-tenant relationship to your satisfaction. Your property manager will also, as needed, serve as a mediator to help smooth out the communication and to resolve any issues between yourself and your tenant. This means you need to be comfortable and have a level of trust with this person and with their professionality and ability to communicate well on your behalf.
How frequently do you inspect the units you manage?
These inspections are so important for the sake of making sure your property is in good shape and is being properly utilized by your tenants. Knowing how many times your property manager will be checking in on things per year should help to give you peace of mind knowing that your unit will be well looked after.
What’s the appropriate rental price for my unit?
We recommend doing your research beforehand so that you already know the answer to this question. This way, when you hear your candidate’s answer to this question, you can assess this person’s knowledge of the current market and whether they offer the expertise you’re looking for. A good tip is to compare the answers you get from different potential property managers so that you can have a pretty accurate picture of the rate your rental unit will go for in the current market