Questions to Ask a Property Manager
Often times a person looking to rent their property doesn’t know where to start or how to find a qualified property manager. Here are five questions to ask a property manager. Hopefully some of the following questions will help you find a property manager like Brian Harenberg who will do a great job.
1) What are the various services that you offer to your clients?
We can sell, market, lease and manage your property. Other important considerations for a property management company are whether they can provide maintenance, do in-depth background checks and inspections.
2) Can you tell me what my property will rent for?
A good property manager should be able to complete a CMA or comparable market analysis based on other listings near your area. To determine the highest possible rent they should use both properties that are on the market and ones that just went off of the market. Expertise and experience in the industry really matter because unique aspects of your property like a pool or a top of the line kitchen can make a difference in marketing your property.
3) Can I cancel my management contract?
We don’t hold our clients in a long term contract. We are so confident that you will be happy with our services, you can cancel at any time if you aren’t happy. We just ask for 30 days notice to process all the paperwork. Run the other way if you find a company that will hold you captive with a contract. Great property managers like Brian will keep your business with great service.
4) What are the management fees and/or pricing options when the property is being rented?
Your best bet is to find a company that is based on a percentage of collected rent. That way your manager is motivated to find tenants and get higher rental amounts. Some other companies will offer pricing that includes a lease only, standard or premium plan.
5) Are their fees when the property has no tenants?
There are no fees when there are no tenants. Companies that offer a flat rate are more interested in their bottom line than yours.
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