1. How much does it cost?
Fees are not exactly the same from one property manager to another. It also depends on the state you are in because others can go to as low as four percent of gross rents for bigger buildings and can rise up to twelve percent for single family homes. For this reason, you need to clearly understand the fees that go along with your deal.
2. What properties do they cover or manage?
Choose a property manager who handles rental properties that are just like yours. It is very much useful to assess the properties that they are handles or have handles to ensure their credibility.
3. Who will personally do property handling?
When dealing with a manager make sure that he or she is experienced and is capable of handling your building and properties any time. Make sure to get their complete profile and all important info that goes with it.
4. When and how are fees collected? Quarterly or Monthly?
It is vital that you know when you will be billed by property managers so that you can prepare on time. Ask the property manager whether the bill will be deducted directly from your account or not.
5. What advertise method does he or she use?
Advertisement is crucial especially when you want your properties have the best buyers. Select a manager who has the skills and reputation of being a good advertiser in the field of real estate. Make sure the he or she orients you about his/her advertising methods before he introduces your property in the market.
6. Time and cost for unit preparation? Vacancy cleaning fees? Time span before a unit can be rented out again?
A good property manager can answer all these questions because he/she must ensure that your property will be rented out in the shortest time possible.