QUESTIONS EVERY LANDLORD SHOULD ASK A POTENTIAL PROPERTY MANAGEMENT COMPANY: Part 1
If you are planning for a long term investment, real estate is just a great option for you. This is because real estate has got lots of benefits that other business cannot offer.
Since real estate is a long term investment, the management of such business needs to be in the hands of committed, trusted and dedicated professionals.
It is crème that every landlord and property owner know how to choose the perfect property management company that will serve them the best. As a landlord, hiring a property management company is a big decision. Quite a number of landlord handle it on their own but real investors hire the service of a property management company.
Before going into the details of the article, it is advisable you hire a property manager.
1. You really want to invest in real estate
2. You have little or no interest in hands-on management
3. You can afford the cost of hiring a property manager
4. You get stuck with your property management
5. You have limited time
6. You stay far away from you real estate property
Are you unsure about the questions you need to ask your potential property manager? If yes, here are few and important questions that you should ask the company or manager you will be working with.
- Experience in Property Management:
The first and most important question that you need to ask your potential property manager is the kind of experience the property manager has.
The reason for asking this question is to be sure if they have enough backup and long term experience.
- Number of Properties Managed:
The next question that you ask “how much of the properties are currently managed by the property manager”. It is advisable you don’t hire a property manager that handles thousands of units because your property might get lost in the middle of other properties.
- The Frequency of Inspection:
Ask the potential property manager how often they inspect the occupied and vacant unit. The reason for asking this is to be rest assured your property will be comprehensively assessed and inspected to prevent potential casualties, hazards, and risks.
- What the Property Manager does with the Information Obtained:
The reason for asking this is to be sure the company has policies in place as regards damage, preventive maintenance and lots more.
