When it comes to interviewing property managers, I have found it beneficial to follow a structured approach and utilize a spreadsheet to document the results.
Below are the questions I include in the spreadsheet, along with a brief explanation. For detailed explanations and insights, I recommend watching the accompanying video.
- Company: Record the name of the property management company being interviewed.
- Contact: Note the person you are communicating with during the interview process.
- Google Review: Research and document the company’s Google reviews to gain insights into their reputation and client satisfaction.
- Years of Experience: Inquire about the property management company’s experience in the industry to assess their level of expertise and longevity.
- Pricing: Discuss and document the pricing structure for their property management services to determine if it aligns with your budget and expectations.
- Cities they serve: Determine which cities or areas the property management company operates in to ensure their services are available where your properties are located.
- Type of Properties they manage: Understand the specific types of properties the company specializes in managing, such as residential, commercial, or mixed-use properties.
- Current number of properties they are managing: Enquire about the number of properties the company is currently managing to gauge their workload and capacity.
- Number of staff: Assess the size of the property management team to understand their ability to handle property-related tasks effectively.
- Tenant Selection Procedure: Inquire about their tenant selection process to ensure they have robust screening criteria and procedures in place to find reliable and trustworthy tenants.
- Procedure for broken appliances/tenant requests: Understand how the property management company handles maintenance requests and repairs, particularly regarding broken appliances, to ensure timely and satisfactory resolutions.
- Mentioned bad neighborhoods or areas they do not serve: Determine if the property management company has any limitations or restrictions regarding certain neighborhoods or areas they do not serve.
- Additional Services Provided: Explore any additional services offered by the property management company, such as property marketing, rent collection, or financial reporting.
- Side notes: Include any additional observations or notes that may be relevant to your decision-making process.
By using this comprehensive set of questions and documenting the responses in a spreadsheet, you can compare and evaluate multiple property management candidates effectively. This systematic approach will assist you in selecting a property manager who aligns with your specific requirements and ensures smooth and efficient property management.