Property Management Questions

Why hire rental property management? Because doing it all yourself is the surest way to make your real estate investment experience a bitter one. Owning and maintaing a property is almost a full time job and if you are investing, you probably have alot going on. and the money you spend on a property manager is so minimal to the time and aggrevation you will be saving yourself.  You also have more time to find the next deal when there is someone taking care of the details for you. Hire a good property manager, but first ask the following questions.

1. How much is the fee? Fees vary around the country from as low as 4% of gross rents for larger buildings, to as high as 12% for single family homes. Be sure the fee is clearly stated and understood.

2. What costs extra? Is it extra for showings? Do evictions cost extra (beyond the legal fees)? Any other extras?

3. How is the fee collected and when? Will you be billed, or will it be deducted from your account directly? Monthly? Quarterly?

4. What type of advertising? How do they advertise the units and what does it typically cost you?

5. 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?

6. What needs owner approval? What dollar amount needs your authorization, and is this negotiable?

7. Hours of operation? What are their business hours, and who takes weekend calls?

8. Accounting? What reports do they send? How often? How are accounts set up?

If your Property Manager can answer all of these questions and they are to your liking, then they are probabyly the perfect match for you! Dont forget to sign our guestbook or contact us directly for a free consultation!