Best PracticesLandlordRent SenseQuestions to ask when Hiring a Property Management Team.

June 25, 2020by melissad0

By: Melissa DeMarco

FBS Property, AMO

Strategic independent owners know that owning rental property is a business and should be treated as such. Managing property can be great for some, but for others it can be very time consuming. So, when the time comes to consider turning your property (s) over, it is important to ask the right questions.

Often, price is the first question asked, but truthfully it should probably be the last.

Consider these when you are ready:

  • How many doors does each person/team manage?
  • What is the number of properties you manage in my zip code?
  • What kind of response time can I and my residents expect in normal day to day and emergency situations?
  • How do you handle emergencies?
  • What are your qualifications for a resident?
  • How many evictions per year do you average?
  • What does your company do for the industry and the community?
  • Do any employees have Real Estate License, designations or industry relevant education?
  • Will you provide information for my taxes and will you 1099 all suppliers?
  • What is your management fee?

Determining what is most important to you and finding a company that meets that need is the first step to a successful management plan.

For example:

  • Do you care that your management team is offering continued education for their employees?
  • Is it just about the price?
  • Will office proximity be important to you?

For more information about our services https://fbs-pm.com/rental-owner-services/

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