Knowing what questions to ask is a large part of finding the best manager for your property. With new technology many property managers have centralised their services.
1. Questions to Ask a ProspectiveQuestions to Ask a Prospective
Property ManagerProperty Manager
2. 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.
3. 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?
4. 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?
5. Where do you keep tenants’ security deposits?
How much of a security deposit do you require?
What are your practices for returning security deposits?
6. 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?
7. 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?
8. 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?