Whether you’re looking for professional management for one rental property or an entire investment portfolio, there are some common questions you should always ask a property manager when deciding which one to go with. Spend some time researching websites and online reputations. Then, schedule some interviews and make some phone calls so you have a chance to really get to know how the management company works.
Today, we will discuss some of those important questions to ask when choosing a Roseville property manager.
Discuss Management and Leasing Fees
Fees are always the first question that comes up with most owners when they’re talking to potential property managers. If the fee structure isn’t already provided on the website, it’s natural to want to know how much they charge. A good property manager is willing to be transparent and speak openly about the cost of services. Be sure you understand the services included in those fees; you don’t want any surprises when you receive your accounting statements.
Ask About the Areas They Cover
You should find out where the company does their property management. You’re looking for a property manager who knows the local area and can easily reach your rental property if necessary. A general conversation can lead you to understand whether they really know your area and if they have information on market rents and the local tenant pool.
Identifying Investment Opportunities
When you are looking to buy a rental property, you need a property manager who can tell you where the best location might be to buy. Property managers should do more than simply collect rent. You should be able to count on your management company to provide sound investment advice. Ask a lot of questions about the area. Ask about schools and crime rates around the area. It’s always good to know this information, and a proactive property manager should have it available for you.
Ask about Eviction Rates
You should know what your property manager will do for you if you have to evict a tenant for any reason. The process can be difficult and lengthy in California, so it’s important to ask how they handle evictions. While you want a property manager who understands the eviction process, make sure they are not frequently evicting tenants. That might indicate that they don’t have a great screening process.
Talk about Technology and Automation
Find out if the property management company you are considering is an automated company. An automated company means that an efficient use of technology is being made. Some questions you might ask include:
- Can their tenants pay rent on time through an online portal?
- Do you as the owner receive an ACH?
- When do you receive a statement?
- When do you receive money from the tenants?
What Makes Them A Good Property Manager?
You should always ask a property manager what makes them different from the others. Find out why you should want to work with them. Ask how long they have been in business and the average timeframe their employees remain with the company. It is also important to know who exactly you will be working with.
If you have any additional questions regarding the most common questions to ask a property management company, please contact us at Sunburst Properties.