When you’re interviewing property management companies, there are questions you can and should ask to ensure you’re entering into a successful partnership. You want to be comfortable with the property manager you choose, and you want to feel like you have a partner.
Above all, be sure to ask all the questions that you want to ask. Don’t hesitate. You are interviewing these professionals to make sure they are focused on the things that are important to you. Let them know what your concerns are. If you worked with a property manager previously and it didn’t work out, tell your new manager what went wrong. A good Philadelphia property management company will want to know what can be done to put your mind at ease.
Ask About Capacity
You should always ask how many properties they are managing. You need to work with a company that’s big enough to handle everyone’s needs. If there isn’t enough on-site staff to handle multiple properties, it’s hard to develop and maintain a good relationship with that property manager.
Reporting Process and Technology
Ask a prospective property manager how they send you reports. Do they use the old pen and paper method, or is there something more advanced? We have everything online, so all of our reporting and documentation is instantaneous.
Technology is also important in placing tenants. Ask how they get tenants and whether they’re still using newspapers to advertise. A good property management company will flood social media and the internet. Your listing should be on websites like Hotpads, Zillow, and Apartments.com.
Handling Showings and Leases
Find out if your property manager is using online tools to schedule showings, or if they have to wait for regular business hours for tenants to be able to request an appointment. Today, most tenants want to be able to do this 24 hours a day and 7 days a week. They want to see properties on the weekends. Make sure your property manager provides online access.
Ask about the documents that are used with the lease. Does the lease cover pets, smoking, and early termination? Look at the lease documents they’ll use, and if you want to use your own lease, ask if you can do that.
Talk to your potential property manager about your pain points, and find out what they can do to make managing your investment property a little easier.
We look forward to hearing how we can help you. If you have any questions or you’d like more information, please contact us at McSherry Property Management.