As an experienced real estate investor, it’s important to carefully select the right property manager to join your investment team. To find the right property manager, here are some questions you should consider asking:
Who will be my primary point of contact and how long have they been with the company/industry?
What other fees, besides the letting fee and management fee, should I be aware of?
What is your policy on rental arrears?
How many similar properties do you manage?
Are all of your tradespeople licensed?
What training does your company provide?
How often do you inspect properties and what reports do you send?
What online tools do you use and can I get real-time reporting?
How do you screen tenants?
What is your average days on market?
What is your vacancy rate?
What is your list price to lease price ratio?
What is your team structure?
Can you show me your customer experience system and ratings?
Can you share any Google reviews or testimonials from landlords and tenants?
By asking these questions, you can get a better understanding of the property manager’s experience, fees, policies, processes, and customer satisfaction levels. This will help you make an informed decision and choose the right property manager for your investment needs.