Talk to real estate agents and other property owners in your area. Ask what property managers or property management companies they use/have used. What have they been happy with? Have they had any problems?
You can also do an online search for property management companies. Websites like T-Rex Global andAllPropertyManagement allow you to plug in the size of your property and your location and they will generate a list of property management companies in your area.
Before wasting time interviewing a property manager, you should check out the company’s reviews on sites like Yelp or evenFacebook. It’s not a bad idea to check with the Better Business Bureau as well to see what kind of rating the company has and if any complaints have been filed against them.
Check Out Their Current Work
Look at some of the property manager’s current rental ads. Are they professional, compelling and free of discriminatory statements? Do they advertise in a variety of places, or are their ads limited to free sources like Craigslist or community bulletin boards?
Check out the actual properties they manage. Are the properties clean and well cared for? You can gather some great information by speaking to the tenants they currently manage. Because property management is about keeping you and your tenants happy, it is important to get their opinion as well.
You should also ask the management company for an example of the monthly report you would receive.
Interview Several Candidates
Just as you will interview and screen several tenants before you rent out your property, you will want to interview several property managers/management companies so you can find the one you are most comfortable entrusting your property to.
Interviewing several prospect managers will allow you to separate the good from the bad. You will be able to tell those with real knowledge and a proven plan, from those without. A property manager who has placed ten tenants in the last two months and is currently evicting five of them, either has the worst luck in the world, or, more likely, does not know how to properly screen tenants.
Is the candidate receptive to your questions or are they dismissive? If they aren’t putting their best foot forward during the interview, things will most likely magnify if you allow them to manage your property.
You should ask questions about their education and experience, services provided, fees charged and if they have an understanding of landlord tenant law.
By Erin Eberlin
