Management Company Interview Questions

When interviewing a property management company, asking the right questions to ensure they align with your needs and expectations is crucial. Here are 25 questions to consider. Every property is unique, so include questions specific to your property and your goals for its ownership.

  1. What services do you provide? These may include maintenance, auditing, inspections, meetings (HOA), and construction management.

  2. How do you determine management fees? Ensure this is broken down to your satisfaction and that any “additional fees” are broken out and itemized.

  3. Are there any additional fees I should be aware of? Some management companies have in-house maintenance staff or mark up third-party maintenance, so it’s always good to clarify that in writing through the management agreement.

  4. What is your process for tenant screening?

  5. How do you handle property maintenance and repairs? Most property management

    software tracks every service request from submission to completion. It’s a good idea to have the suppliers include before-and-after pictures and save them in the system. Ask the management company if they will supply these reports to you, perhaps quarterly, so that you can see the response time.

  6. What is your response time for maintenance requests?

  7. Can you provide references from current clients? Ensure that the references are for

    properties similar to yours.

  8. How do you handle evictions?

  9. What strategies do you use for tenant retention?

  10. How often will you communicate with me about my property? Determine what you

    prefer and the style of communication so that you can select a company that fits your

    preferences.

  11. What technology do you use for property management? Ask about the type of property

    management software they use, and ask to see examples of the operating and financial

    reports.

  12. How do you market vacancies? They should be specific about signage, advertising,

    pictures, tours, or, if it’s commercial, how they work with the leasing agents to assist their

    leasing efforts.

  13. What is your lease renewal process? Ask for time frames when they begin asking. Do

    they inspect the unit before offering a new lease? Do they perform market surveys before renewals to maximize rent? Of course, existing residents/tenants are usually kept slightly below market rent, but it shouldn’t be too far below.

  14. How do you handle rent collection?

  15. What are your policies on late payments?

  16. Can you provide a sample management agreement?

  17. How do you handle tenant disputes?

  1. What’s your experience with properties like mine?

  2. How do you ensure compliance with local laws and regulations?

  3. What is your approach to setting rental rates?

  4. Do you offer financial reporting? If so, how often? Monthly is ideal, but determine what

    you’ll be happy with.

  5. How do you manage vendor relationships for maintenance and repairs?

  6. What happens if my property is vacant for an extended period?

  7. How do you handle security deposits?

  8. What is your cancellation policy if I’m not satisfied with your services?

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