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2. What other properties do they
manage? It is best if they handle rental properties that are similar to
yours. It is also helpful to drive by their other properties to see how
they are maintained.
3. Who will actually handle your
property? It is best if one person handles your building all the time.
They should also have some experience. Get their name.
4. What costs extra? Is it extra for
showings? Do evictions cost extra (beyond the legal fees)? Any other
extras?
5. How is the fee collected and when?
Will you be billed, or will it be deducted from your account directly?
Monthly? Quarterly?
6. What type of advertising? How do
they advertise the units and what does it typically cost you?
7. Cost and time to prepare units? What
is the typical cleaning fee on a vacancy, and how long will it normally
be before it's rented out again?
8. What needs owner approval? What
dollar amount needs your authorization, and is this negotiable?
9. Hours of operation? What are their
business hours, and who takes weekend calls?
10. Accounting? What reports do they
send? How often? How are accounts set up?
There are probably other questions
you'll have as well, based on your particular needs and the particular
property. Ask everything up front, and you'll have fewer
misunderstandings. With good rental property management, real estate
investing is a lot less stressful. |
