5 Important Questions To Ask a Property Management Company
Are you in need of a property management company that you can trust?
In hiring a property management company, you can look forward to a maintenance-free investment. Let’s consider that 62% of landlords cite property maintenance as their biggest stressor. In choosing to hire a property management company, you can look forward to drastically reducing this stress!
To ensure success, it’s vital to ask all the right questions before making a hiring decision. To help, we’re sharing 5 important questions to ask a property management company. From service fees and hours of operation to customer reviews, we’re covering it all.
1. Services Included
First things first, what services are offered by the property management company?
If you’ve never worked with a property management company, it’s important to understand that each company will offer a different level of services. For example, one company may charge a monthly premium that includes each and every management service imaginable. On the other hand, a more affordable company may offer a limited set of services in exchange for a low-cost pay structure.
Depending on your property, you may require specific services from your property management company. For example, if your property contains a pool or a high degree of gardens and lawn maintenance, it’s best to locate a property management company that offers exterior maintenance services.
How can you find a property manager that does it all? Check out this post for tips.
2. Fees and Charges
Next, you’ll want to cover the associated service fees and charges laid by the Seattle Property Management Company of your choice.
Is there a base fee that you pay each month or year? Or, are your fees variable and depend on the level of services utilized that month? Either way, you’ll want to have a clear outline of the fees in order to avoid any unnecessary surprises when receiving your first invoice.
3. Hours of Operation
What are the hours of operation held by the property management company?
First, you’ll want to know when they open and close during the week. From here, you’ll want to inquire as to their availability on weekends and if services are deferred until the workweek. Lastly, it’s important to know if the property management company is available on holidays or if they generally close on most holidays.
Remember, a property manager can and will be required at all hours of the day. If your property management company is limited to only a few hours each day, this will make it incredibly difficult for tenants to communicate with property management and find solutions to their problems.
4. Reviews and Testimonials
Before making an official decision to hire a property management company, it’s helpful to ask for reviews and testimonials from their past clients.
In this day and age, the majority of property management companies will have an open display of customer testimonials online. This is one of the best ways to get to know a company from the perspective of past and current customers. In fact, one study found that 84% of consumers trust online reviews as much as they trust their friends.
If the majority of the online testimonials are positive, this will give you a good indication that the property management company is a trusted and reliable business.
5. Other Properties
Last not but least, how many other properties does the property management company manage at this time?
Of course, you want the property management company in question to have a number of past and current clients. After all, having a steady stream of business is always a good indicator that a company is capable and trustworthy. However, you also want to ensure that you avoid hiring a property management company that is in over its head.
In management too many other properties, your property is sure to become just another number. With this, the level of service that you’ll experience as well as wait times may be sub-par.
What to Ask Before Hiring a Property Management Company
Before signing on the dotted line, there are several questions that you must ask your property management company before hiring.
In doing your due diligence beforehand, you’re all the more likely to have a positive relationship with your property management company. In turn, this will benefit yourself and your tenants for many years to come.
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