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Top Questions for Property Managers

We sat down with Brooke, licensed property manager, and asked her to give us the best questions to ask when you’re interviewing property managers for your rental properties. Here are her top 25:

  1. What are your management fees and pricing options?
  2. Are there any other fees outside of the monthly service percentage? (set-up, turnover)
  3. Are there fees when the property has no tenants?
  4. Do you charge a fee for coordinating maintenance or is this included in your monthly rate?
  5. What is your process for authorizing maintenance at the property? Price threshold?
  6. What is included with your service?
  7. What is the application process for your applicants? Application fee?
  8. How often do you do inspections? 
  9. Is there an additional charge for these inspections?
  10. May I see an example of your lease package?
  11. May I see a copy of your Property Management contract?
  12. How long is your PM Contract for and under what conditions can I cancel?
  13. What is the average length of tenancy?
  14. How many rental units or doors do you manage?
  15. How do you determine the rent amount?
  16. What experience does your company owner have in managing properties?
  17. Are you currently an active real estate investor in this market?
  18. How do you pay your owners?
  19. What are the payment options for tenants?
  20. What steps do you take to market properties?
  21. How long are your properties typically vacant?
  22. What are the income and screening requirements for applicants? (Screening Guidelines)
  23. How often will I get updates on my portfolio?
  24. Who keeps tenant fees such as late rent fee, application fee, early termination of lease fee, retained deposit to hold fee?
  25. Will you share some references and reviews?

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