what questions would you ask to the references provided by the property management company?

In Property Management - Asked by Paul R. - Feb 22, 2011
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Answer(s)

William C.
Broker/Agent
Pasadena, CA

Hi Paul,
Depends on what type of property they manage. If its multi-family, I would ask if they consistently get a quick response back from the off-site and/or on site manager when they call them; do they get a detailed and timely monthly accounting statement; are the maintenance people they use competent and competitively priced; do they do a good job screening new tenants and getting the vacancies filled quickly; and are there any additional charges for services you need to know about.

Feb 22, 2011
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Rob B.
Chandler, AZ

Paul....
As a long-time property manager, I can provide some of the questions that I certainly would want to know about a prospective property management company.
1. Do they perform as promised?
2. Have they suggested and implemented ideas to save money on expense since taking over?
3. How often do they do comparative rental surveys?
4. How aggressive are they are raising rents, while maintaining occupancy?
5. Do they follow all the rules for notices and evictions?
6. Do they provide routine and complete reports on a monthly basis?
7. Do they provide well-trained property or account managers?
8. Is their response time to tenant comments or complaints acceptable?
9. What is your relationship to the property that they serve and how long have you worked with their service?
10. Overall on a scale of one to ten, with 10 being the best, how do you rate their management?
You may have some other items you personally want to add to this list, but I can assure you that if you ask these questions from their references you will learn a tremendous amount about your prospective property management company. Good luck Paul... Rob Baird, CA RE License #544165 (One of the oldest, active licenses in CA) 951 515-5855 Email: robertbaird@NewportCpC.com

Feb 22, 2011
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Gene G.
Broker/Agent
Houston, TX

1. Where they available? 24hrs a day? weekends? 2. Where their communications clear and regular? 3. Was their reporting clear, accurate, and beneficial? 4. How did they manage service providers? 5. How did they cooperate with leasing/selling brokers? 5. What did you least like about their service? 6. Would you renew their contract and/or have them work on additional properties? 7. What is the experience of the PM representative (either on site or not)? 8. What was their relationship/interactions with Tenant(s) like? Just off the top, good luck.

Feb 23, 2011
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