The hassle of managing a property are all in the past. If you’ve been keeping up with the current trends, property management firms have become the go to for everything property. But how do you ensure you and the firm are a right fit for each other?
We’ve listed out a set of questions which can help you determine this with ease!
5 Questions To Ask Your Property Management Firm:
- What types of fees are involved?
- How many inspections will be done?
- How will you market my property?
- How do you determine the rent?
- What will be my level of involvement for repairs and maintenance?
Knowing how much your tenant is being charged and how much is not being delivered to you is very important. Most property management companies charge your tenants certain justifiable fees such as late rent, etc. It is important to ensure that they are transparent
about it and you can keep a record.
Inspections are a great way for a property management company to take care of your property. It helps keep the building functioning and tenants happy. Finding out how many checks they conduct can help you determine how well your property will be looked after. However, you do not want them to barge in on a tenant every day. On average, they should do half yearly visits or yearly visits and be able to provide a report at the end of it.
Marketing is a very crucial part of management. It helps keep the houses occupied and the profits flowing. Make sure you are aware of the channels and terms used in the marketing procedures.
Understanding their rent pricing can help you ascertain their level of knowledge and also what aspects they consider. This helps you keep a track of what is being spent where.