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Important Questions To Ask A Property Management Company Before Hiring It


Owning and investing in real estate property is an excellent option for those interested in making a long-term commitment. Another important aspect of hiring these professionals is the fact that they are fully knowledgeable of all the ins and outs of the real estate business and perfectly capable of dealing with all kinds of complex situations.

If you are a landlord seeking a reliable property management company, it is of the utmost importance that you know how to properly interview and select a good service, one that specializes in managing investment properties such as yours.

If you are not quite sure as to how to do that and what to ask before you actually sign a long term contract, try asking some of the questions we will mention in the remainder of the article.

What is your property management experience?

Start by inquiring about the experience and the longevity of a property management company. In order to make an informed decision, you will have to ask for how long a company has been in the property management business.

What is the number of properties you are currently managing?

small houseHiring a property manager or a company that is currently handling thousands of property units could be a somewhat risky solution. Keep in mind that such companies can easily get overwhelmed by the sheer number of management tasks, which means your property can easily end up being lost in an ocean of other real estate properties.

How do you handle information obtained from inspecting property units ?

This is one of the most important questions you should ask a management company. Before you hire one, you need to be sure it has all the important policies in place, in regards to the various kinds of damages to the units caused by tenants. You will see no benefits from simply having a property management company report to you that your units were inspected. You will need a company that has an aggressive and sound plan of action, based on the info gathered from unit inspections.

How frequently do you inspect vacant and occupied units?

It is also important to know how frequently a company will inspect occupied and vacant units. The reasons behind the importance of this information lie in the fact that you need to know whether there will be a regular and comprehensive assessment of any damage caused to your occupied property units. You will also have to know the frequency of vacant unit inspections, so as to prevent any damages caused by fire, flooding, etc.

How do you handle regular maintenance?

Make sure to inquire whether the company will assign at least one dedicated maintenance technician to oversee the condition of your property. If your property requires more technicians, their number should be based on the number of units and the size of your property. You should also know the level of engagement from the maintenance supervisor, as well as their role in making sure all the maintenance problems are being properly addressed.

How do you handle after-hours emergency situations?

real estate board sign Finally, do not forget to ask a management company to explain their procedure for handling after-hours emergency situations like fires, water leaks, etc. Make sure to ask whether there is a dedicated after-hours phone line which the tenants would have access to, in the case of an emergency.


Getting The Best Deal Out Of Your Property

There is nothing better like knowing that you got the best deal for the house that you invested a lot when building or buying. In all means possible your motive is ensuring that you get the best deal out of your property. Getting the best deal is possible only if you have the right negotiation skill that’s the factor that will determine if you will sell the house or not. If you have no idea of how to go about the selling process then would highly recommend that you hire a real estate’s agent because he is well aware of the market price at the moment. One question that I have always asked myself is how to sell my Property fast. Below are some of the tips that you can follow so that you get the best deal on your property.

Best tips

Be realistic

kitchen When you are pricing the property, then you have to be realistic. You don’t want to overprice the house or underprice it. If you have no idea about pricing the house. The best way to go about this is calling the house agent he will be able to advise on the price that will work now. The cost will depend on the condition of the house and the market price at the moment you are selling.

The right asking price

The asking price should be set right if you will get the best deal for the house if you set the price too high then the buyers will be scared even to ask. The asking price should also be something that is easily negotiable, if you set the asking price to the exact amount, then the buyers will not have room for negotiating, and it’s a must they negotiate. If you plan on working with the real estate agent, then compare the price that you will get from different agents and get one that you fell can work for you.

Right estate agent

buildingsTo cut the cost of the real estate agent then make sure that you get one that has the lowest fee. If you want to get the best deal on your property, then you should avoid agents that will try to add a lengthy clause because this clause will prevent you from using another agent if he/she takes more time to sell the house. Use an agent that has a good reputation, and he/she is ready to provide the references you don’t want someone that is just starting. Someone that has been in business for long will know the best way to go so that to get you want on the property.