Hiring a property manager can be similar to car shopping. Is it big enough? Small enough? How much maintenance will be needed, how much will it cost me? It can be time-consuming and at times tedious but both are typically large investments that need thorough consideration.
So how are you supposed to know what you should ask a potential property manager?
After being in this industry for over 8 years, here are some of the questions I would suggest asking your potential property manager.
How do you handle maintenance requests?
This is the single most important question, in my opinion. It is what makes or breaks your relationship with your property management. Bleeding money is every investor or landlord’s worst nightmare. Finding a property manager that can articulate their process and execute it at the same time is imperative. Here at RentWise Property Management, we have not only documented our processes when it comes to maintenance we have a team behind us executing each step so that you remain informed about what is happening and/or needed at your property at all times.
How often do you go inside my property?
Seeing properties in person is the best and most efficient way to keep on top of the property’s condition. Performing consistent interior and exterior surveys are critical to ensure that situations at a property are caught fast to mitigate any long term damages saving you money in the long run. We perform bi-annual interior walkthroughs via a third party un-bias vendor that delivers a complete inspection report so that we can review and assess any issues that might have been discovered.
Do you require renters insurance?
Renters insurance has recently become very popular in the property management industry, however, we have required it since the beginning. We have story after story about why requiring renters insurance is so vital that we would be happy to share. Renters insurance has saved not only our tenants but our clients so much hassle and money. We require each tenant over the age of 18 to carry a minimum of $100,000 liability and we recommend each tenant secure personal property coverage as well.
Are you ready to start living with LESS HASSLE and MORE HAPPY when it comes to owning an investment property? Visit our website at www.RentWisePM.com or give us a call at 208-949-3083.