The property management firm administers residential, commercial and industrial real estate. They involve the managing of property that is owned by another party or entity. They act on behalf of the owner to preserve the value of the property while generating income.
Choosing a property management firm can be a daunting task, especially if you’ve never rented a property before. It is important that you should know how to select and interview the property management company that seems best. Asking these questions before you sign a long term agreement with them will make your hunt for a property management firm easier.
1. Do you have a dedicated management arm?
You should know whether the firm offers a complete service or is just a part of a real estate office.
2. What kind of property management experience do you have?
You need to know how long they’ve been in the business and how successful they are.
3. What type of properties do you manage?
This question makes you understand whether they specialize in residential or commercial or industrial property management.
4. How many properties do you currently manage?
Naturally you will want to go with an agency that has a reputation for being great property managers. But you need to ensure that they are not too overloaded to look after your property carefully.
5. What techniques do you use to market my property & attract tenants?
This is an important question to ask. The property manager should be present at the property whenever a prospective client is inspecting the property. They should have a database of quality tenants looking for a home or a clear marketing strategy in order to find quality tenants for you.
It is critical that you choose your property manager wisely as proactive property management services can considerably increase the return from your investment property.
The author is a certified property manager of Premier Premier Real Estate Management, Inc. which is a leading property management firm. She shares her expertise on the essential questions to ask a property management firm. Learn more at propertymanagerskc.com