Choosing the right property management company is crucial for property owners to ensure that their investment is well-maintained and profitable. A reliable property management company can effectively manage the day-to-day operations of a property, attract high-quality tenants, set rental rates, and handle maintenance and repairs.

What services do you offer?
It’s important to know what services a property management company provides so you can decide if they meet your specific needs. Some companies offer only basic services like rent collection, while others offer a full range of services like maintenance and repairs, tenant screening, and lease administration.

How do you handle maintenance and repairs?
You need to know how the property management company handles maintenance and repairs to ensure that your property is well-maintained. Ask about their process for handling maintenance requests and if they have a dedicated maintenance team or if they use contractors.

How do you screen and select tenants?
Knowing how a property management company screens and selects tenants is crucial for ensuring that you get reliable and responsible renters. Ask about their tenant screening process and how they determine who is the best fit for your property.

What is your fee structure?
Fees for property management can vary, so it’s important to understand what you will be paying and what services are included in those fees. Ask for a detailed breakdown of all costs involved, including any fees for leasing, renewals, and maintenance.

What is your experience in managing properties like mine?
It’s important to know if the property management company has experience managing properties similar to yours. Ask about their experience managing properties in your area and what types of properties they specialize in managing.

How do you handle late rent payments?
Late rent payments can be a headache for landlords, so it’s important to know how a property management company handles them. Ask about their process for collecting late rent payments and any fees or penalties associated with late payments.

What is your communication process with landlords and tenants?
Clear and consistent communication is key to a successful landlord-tenant relationship, so ask about the property management company’s communication process with landlords and tenants. Ask how they handle maintenance requests, rent payments, and other issues that may arise.

How do you stay current on local laws and regulations related to property management, and how do you ensure that my property is in compliance?
To ensure that a property is in compliance, a property manager may conduct routine inspections and audits to identify any areas of non-compliance. They should also maintain a system for tracking compliance requirements and deadlines, such as renewing licenses and certifications or submitting required reports and documentation to local authorities. Additionally, a property manager may work closely with legal professionals or other experts to ensure that they are up to date on any changes in local laws or regulations that may impact their clients’ properties.

 

Ready to make the leap? Let’s start with the first question, How can we help you?

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PGM Real Estate Associates