If you are shopping around for a Property Management Company to oversee your real estate investments, you must go with one that best suits your needs and wants. To ensure you make the right decision, here are some important questions to ask and consider beforehand.
- How do you market the properties you manage?
Does the company list on MLS and/or other websites? Do they post a sign on the property?
- How many properties do you manage?
Is the company experienced at handling multiple accounts?
- How long have you been in business?
Again, this is a question about how much experience the company has managing properties, their reputation, online reviews, etc.
- What payment options do you have available to tenants?
Does the company use the most current online and automated payment options?
- Do you do direct deposits?
This is important so you can easily get paid as an owner.
- What is your eviction process?
Is the company’s eviction process firm and fair?
- What is your late rent policy?
Who keeps the late fee? The PM Company or you as an owner?
- What is your cancellation policy?
Are you as an owner able to cancel your service at any time or with notice? Is there a fee?
- What is written in the lease?
Make sure you are comfortable with the lease agreement that the company offers tenants.
- What are your fees for placing tenants, and managing your property?
Finally, you want to make sure you are comfortable with the company’s pricing and all monthly/annual fees.
Put a check mark beside each of these questions when meeting with a potential Property Management Company and you will know if they are the right PM for you.
To learn more about what Performance Property Management can do for you, click over to http://performancepropertymanagement.ca and get in touch.