17 Questions to ask your Property Manager

  1. What aspects of your operation are computerized? What type of financial reporting is available?
  2. How long is the management agreement commitment for? If just cause, what is your cancellation policy?
  3. Who is my contact person at your firm?
  4. Do you have a Web presence? What benefit to me is your Web presence?
  5. 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?
  6. 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?
  7. Are you a licensed real estate practitioner in your state?
  8. I want the advantage of the latest marketing strategies. What is your property advertising program?
  9. I want careful tenant qualfication review. What are your new tenant qualifying guidelines and verification proceedures?
  10. 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?
  11. Where is my property physical location in relation to your office?
  12. Can you provide me with names of your clients to contact for a reference on your service?
  13. Why are you personally motivated to manage my property?
  14. What are your recurring fees for service? Monthly management fee? Lease renewal fee? New tenant marketing fee? Advertising passthru fees? Maintenance fee override?
  15. What reserves am I required to have on account with your firm? Maintenance contingency reserve? Recurring payment obligation reserve? Other?
  16. Do you perform maintenance and repair services on my property with in-house staff? Sub-contract third party contractors? Other?
  17. Why should I contract with you rather than any other property manager who is calling?