Questions to Ask a Prospective Property Manager

Knowing what questions to ask is a large part of finding the best manager for your property. Here are the important questions you should ask about services provided, fees charged, money management and property maintenance.

Questions About Services
Provided and Fees Charged:

What types of fees do you charge?

Ask how much their fee is?

Make sure the fee is based on rent collected rather than rent due.

Ask if there are additional fees for services?

Questions About How Money Is Handled/Where Funds are Held:

Where will the buildings funds be held?

When and how will you, the property manager, be paid?

When and how will I receive my money?

Where do you keep tenants security deposits?

How much of a security deposit do you require?

What are your practices for returning security deposits?

Questions About Property Maintenance:

Do you perform preventative maintenance/property inspections?

What is your standard practice for dealing with maintenance issues?

What kind and how often?

Do you provide an itemized list of all expenses?

What constitutes an emergency?

How long does it take you to respond to tenant complaints/repair requests?

What type or resources do you have in terms of contractors?

Are they on call to handle emergencies?

Do you rely solely on this group or do you get other estimates as well?

Do you have free range to make repairs in the event of an emergency?

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