Questions to Ask When Interviewing Property Managers
By: Peggy Seymour
· How long has your property management company been in business?
· How many properties does each property manager handle?
· Are you licensed by the Commonwealth of Virginia and a sworn REALTOR®?
· Are you a full-time property manager or handling rentals as a sideline to your sales business?
· How do you keep abreast of the ever-changing laws affecting rental properties?
· What are your hours of operation and how are emergencies handled?
· Do you own a contracting firm and do you charge an extra fee if owners prefer to use a different contractor?
· How are market rents established?
· How are prospective tenants qualified?
· Once a tenant has moved in, how often are inspections performed and how am I notified of the results?
· How quickly are disbursements made to owners?
· Are copies of paid invoices sent to owners with their monthly statements?
· Are owners given advance notice of a pending vacancy and other changes in the status of their property?
· What is the process for handling delinquent accounts?
· How many tenants have you taken to court?
· What were the average legal fees?