What to ask property management companies before hiring them?

By on July 1, 2015

While deciding for any property management services, there are two things that strike on your mind:
Are these services worth my property? What if the rates are not fair?

So how can one decide on a property management company and the rates they serve on are good match to your property. To help you on this, we are discussing some of the questions one must ask to the property management companies.

How do you advertise my property?
It is a good practice to advertise about the property so that potential renters can be aware. It is better to know the marketing strategies of Property Management Company you are choosing.

How do you select tenants?
While selecting tenants an utmost care must be taken. They should pay you on time and take care of your property. It is better to go on good screening of tenants to avoid any headache in future. Your property management company should use proper screen potential applications. You must ask them about their method of credit and background checks for declines and acceptance. Sometimes they can also make use of services like SimplifyEm to obtain credit reports for your prospective tenants. It’s essential that you know which services they are using for if the services are authenticate or fraudulent. They might also share your details and so it becomes even more necessary.

How close the company is to your property?
It is better if your property management company has office near your rental space. You will be in more peace if you know that company’s manager will answer your needs ASAP.

Is there any extra charge for repairs?
You should be weary, while attracting towards the enticing rates of the property management companies. You must ask them about the additional charge if there is any. Select the company that counts your repairs without additional fee for one particular time.

Will they charge when the property is vacant?
What is your property is vacant or the tenants are paying their rent, will your property management company charge you? If they are charging on any case, they must follow less aggressive marketing strategies.

Do they charge any additional amount apart from leasing, renewal and management?
Ask your property managers to show their full fee structures prior signing the contract. Feel free to ask about their full rate versus services list before coming to any decision.
So far we have discussed all the major points to consider before making contract with any property management company. Hope you find the right match for you

Read more at Online Property Management Software

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