Are you worried that if you rent out your place, you may have to deal with some of the horror stories you hear?
Will your tenant pay on time? Will there be any illegal activity? Will you make enough money?
If you're worried about these questions, you should look for a property manager to handle your rentals!
You want the best property manager you can find - someone who knows what they're doing and can help you make the most of your investment.
If you choose to hire a property manager, you should know what questions to ask! Keep reading to learn five important questions to ask when hiring a property manager!
1. How Familiar Are You with Current Trends in the Area?
There is nothing more important than knowing the trends of the area you are renting a property in. Since they constantly change, your property manager should be up to date with new trends.
If they are not sure what the trends are, you should find another one. The best property manager should always know the trends in real estate in the areas they manage.
2. How Soon Can I Expect to Hear Back if I Have a Question or Concern?
You'll want to hire a property manager that gets back to you in a reasonable amount of time. If you have a question, you'll want the manager to be able to answer it within a business day.
Since your property is such a large asset, they should be treating your time and concerns with respect.
3. How Many Properties Are You Managing?
If your future property manager is too busy with other properties, yours will not be getting the attention it needs to be worth the investment.
The property manager you decide to hire should be able to handle everything that goes along with renting. They will deal with tenants, repairs, and dealing with any issues that arise.
If your property manager is working with over 600 rental units, you need to walk away.
4. How Is Rent Collection Handled?
Ah, the best part of renting a property! Collecting your payments!
You will want to be sure you understand how your property manager deals with rent collection. You should try to look for someone who works with up-to-date technology like automated payments and online payments to make it the easiest for you.
5. How Do You Set Rental Prices?
Hiring the right property manager will ensure you are getting the best price for your rental. The property manager should be able to run a rental analysis of the current state, country, and local area trends.
Hire a Property Manager
If you ask a potential property manager these five questions, you will be ensuring yourself the best outcome for your property.
Ready to hire a property manager in Ft. Lauderdale today? Contact us and we'll get you started with raking in the cash with tenants!
