Searching for a rental property management company isn't easy.
The right one should take all the hassle out of being a landlord, handling everything from marketing to maintenance for you.
But how do you decide which company to entrust your property to? In this post, we'll give you five important questions to ask before you make your decision.
How to Interview a Rental Property Management Company
These questions will help you determine if a company is right for you.
1. What are Your Credentials?
A reputable property management company must belong to some governing associations.
One of the most important ones is the Better Business Bureau.
They should also be a member of the National Association of Property Managers. These are basic requirements for rental property management companies. If you don't see them, look elsewhere.
2. Do You Provide Legal Assistance and Representation?
If you have difficult tenants and are unable to come to an agreement with them, you may need to seek legal action.
This could happen if you aren't receiving your rental fees, or if your tenants sue you for not fulfilling your obligations as a landlord.
In any case, you'll need to know that your property manager has your back. Ask what kind of legal assistance they can give you and if they will go to court for you if needed.
3. What's Your Turnover Rate?
This applies both to their employee retention and their relationships with suppliers and vendors.
Long-standing partnerships are a sign of good business. In some cases, they also result in priority services, given at a discounted rate.
4. How Long Does it Take You to Fill Vacant Properties?
A rental property management company should get tenants in as quickly as possible. If they can't do that, then why bother?
Ask how long you can expect to wait to have your property occupied. Then, quiz them on exactly how they plan to make that happen.
Make sure you ask how they advertise their properties, how often they're available to show them, and how they screen their tenants.
5. What Does the Contract Involve?
Before agreeing to work with any property management company, you need to make sure you understand exactly what the contract covers.
Go through all of the paperwork carefully, and don't be afraid to ask questions to clarify things. Find out what services they'll be required to provide, what your responsibilities are, and what fees apply.
The last thing you want is to be locked into a contract, so find out what conditions will allow you to get out of it, too.
Get the Individual Attention You Need
At Clockwork, we're experts in property management. We provide all of our clients with one-on-one support, catering to their individual needs..
On top of that, you can check up on your property 24 hours a day via our online portal. That means you'll always know what's going on.
Contact us to find out more about what we can do for you.