17 Questions to ask your Property Manager
- What aspects of your operation are computerized? What type of financial reporting is available?
- How long is the management agreement commitment for? If just cause, what is your cancellation policy?
- Who is my contact person at your firm?
- Do you have a Web presence? What benefit to me is your Web presence?
- What systems do you have in place that will allow us to stay in contact with each other? E-Mail? Facsimile? Phone? Web Site News Center? Other?
- What professional designations do you have? What association or other type of real estate industry groups do you participate actively with ? Any official offices or titles held?
- Are you a licensed real estate practitioner in your state?
- I want the advantage of the latest marketing strategies. What is your property advertising program?
- I want careful tenant qualfication review. What are your new tenant qualifying guidelines and verification proceedures?
- Do you have access to run computerized credit reports on prospective tenant applicants? Which of the major credit bureaus do you have access to? Which one(s) do you utilize?
- Where is my property physical location in relation to your office?
- Can you provide me with names of your clients to contact for a reference on your service?
- Why are you personally motivated to manage my property?
- What are your recurring fees for service? Monthly management fee? Lease renewal fee? New tenant marketing fee? Advertising passthru fees? Maintenance fee override?
- What reserves am I required to have on account with your firm? Maintenance contingency reserve? Recurring payment obligation reserve? Other?
- Do you perform maintenance and repair services on my property with in-house staff? Sub-contract third party contractors? Other?
- Why should I contract with you rather than any other property manager who is calling?
