How to Hire The Right Property Manager is a most asked question by homeowners. A property manager is an individual or company that is hired to oversee the day-to-day operations of a unit of real estate. Property owners and real estate investors hire property managers when they are unwilling or unable to manage the properties themselves. A good property manager will save you a lot of time and money in the long run. Some property managers have amazing connections that might get you great tenants who pay up on time. To add to that, they can market your property, collect rent and even handle day to day maintenance issues. This is how to Hire the Right Property Manager.
Ask for recommendations and references
Before hiring a property manager, check their CV. Have they worked in the area before? If so, can you call someone to confirm how effective they were? A property manager will either make your life easy or terribly difficult. However, f the right one will allow you time to focus on other things.
Check their qualifications
It is very important to check your property manager’s qualifications. These could be either professional or personal attributes. Professional qualifications enable you to gauge just how much familiar they are with the world of . Likewise, your property manager will be dealing with tenants directly. For this reason, it is important to establish how well they can relate to potential tenants. Is he likable? Is he kind? Does he have compassion? Hiring The Right Property Manager could increase your chances of landing great tenants.
Lay out clear expectations
There is no standard property manager job description. Therefore, you need to clearly spell out exactly what you expect from the manager. The general assumption is he manages the rental process from beginning to end. If the property is vacant, they will market it for rent, screen applicants and handle house showings. To add to that, you can stipulate that they collect the rent and handle all maintenance requests after filling it with a tenant.
Important Questions To Ask
- How do you screen applicants?
- How long do you take to fill vacant units?
- How many units are you managing?
- How big is your team?
- How do you handle maintenance requests?
- How do you handle a tenant who doesn’t pay rent on time?
- Have you ever filed evictions? If so, how did you go about it?