There are six key questions you should ask a potential property manager before you hire them.
Not every property manager is equal, so it’s important to know what to ask them so that you can decide which one is the best fit for you. Here is a list of some key questions to ask a potential candidate for the job:
1. “What services do you offer?” A professional management company should offer a rental analysis for any properties that are vacant, give you a marketing plan to get that property rented out, provide a plan to screen potential tenants, and handle rent collections afterward. From there, ask about what sort of financial reporting they’ll provide you, how they’ll handle repair requests, whether they do property checks, and if they’ll pay property bills.
2. “How do you determine rental rates?” That answer should include completing a rental analysis, as well as considering active and recently leased properties in the area. Additionally, the property’s location and condition should factor into the rental rates.
3. “Do you provide any guarantees?” That answer should be yes. Here at Cap Core Property Management, we offer three guarantees: one for tenants, one for evictions, and one for pets.
4. “How do you handle rent collection?” They should have an online option for rent payment, since tenants in today’s world are used to being able to pay for things online. Additionally, Cap Core also uses a service called PayNearMe—they will accept cash at locals stores like CVS and 7-Eleven for those who are used to paying that way.
5. “Do you have a website?” That answer should be yes. Their website should have options for tenants to pay their rent online and submit repair requests, as well as options for non-tenants to see what’s available and how to apply.
6. “Do you handle repair requests?” Not only should they say yes to this question, it should be a top priority for them. A happy tenant will stay longer, meaning that you’ll get a better return on investment for your property.
At Cap Core, we offer an online repair request submission where tenants can submit photos and notes so that we can fully understand the nature of the issue. Once we have a work order, we set up an appointment with the vendor and the tenant so that the work can be checked out and completed. The maintenance worker or vendor, depending on the job, then assesses and ultimately make the repair. If the issue is major, we let the you, the owner, know about it, as well.
We also send reminders to both the tenant and the maintenance worker to ensure that everyone shows up on time, and following the completion of the job, we get back surveys that let us know about both the tenant’s and the worker’s experience and our quality of service.
Our team prides itself on offering a no-hassle property management service. I welcome you to come check us out at our website, www.CapCorePropertyManagement.com. Otherwise, you are free to reach out to us via phone or email for any questions you have.