Questions you need to ask before hiring a property manager

The most frequently asked I come across from people looking for a property manager are: how much do you charge; and, for how much amount will my house rent for. These questions are very important to you, and they’re necessary to me too. Every landlord concern about costs. But they aren’t the most relevant questions you can ask when you’re questioning a property manager.

Dig About Knowledge and Experience

The answers will vary from manager to manager, but what you actually need to ask is what does the manager know, what does the manager read, and how does the manager run a business? Does the manager you’re about to hire know the most present lead-based paint laws? Do they know what to do when they must take asbestos out of the house? Can they properly expel a tenant and serve a Five-Day Letter? You need a property manager who is well aware of the most current HUD requirements on examining a tenant and the approval process. These requirements changed a couple months ago, and they’ll change again. So, make sure your manager stays current on those things.

Ask About Education and Relevant Memberships

You’ll wish to ask if the property manager takes amounts of continuing education. There are hundreds of courses being imparted in real estate institutions, but those classes don’t always apply to property management. Look for a company providing property management that’s a member of the National Association of Residential Property Managers (NARPM). Find out if they take designation courses and go to the convention. We have been here at the NARPM convention for five days. You should ask if your manager has been active in the Association of Realtors, and if they have their Certified Residential Property Manager designation.

Service versus Charges

These things are relevant because property management is not considered a product business. You can go for the cheapest manager, but will you get the most outstanding service? Will they bring down your risk and take care of your house? When a tenant gets placed, things can be faultless. But they can get awful, and you need someone who can manage everything from eviction to security deposit settlements.