The Ultimate Property Management Questionnaire: 30 Questions

The Ultimate Property Management Questionnaire: 30 Questions

It is not easy to hire a property manager. You are about to make an important financial decision. This is not something to take lightly or hurriedly.

Property managers provide a variety of services. You may not know if you have chosen the right company to work with.

You don’t need to go through this daunting process alone. We’ve developed the ultimate property-management questionnaire to help you choose the best property-management company for your needs.

We’ve also included a spreadsheet at the end of this post to help you compare and organize the answers you give for each property manager.

The Basics

These questions can help you compare the property managers that you are considering. These questions, although they may seem basic, will help you to eliminate companies who aren’t a good fit.

You can save time by removing a property manager from your list if, for example, they only manage HOAs.

  1. Company/Manager name?
  2. What is the difference between a phone number and an email?
  3. How many employees do you have?
  4. How many properties manage you?
  5. How long has your business been running?
  6. What are your hours of availability?
  7. How long does it usually take to fill an open position?

Get to Know You

It is important to establish a relationship with the property manager that will last a long time. You can tell by getting to know a prospective property manager better if they are in it for the longer term or if they plan to change jobs within the next two years. You don’t want to have to maintain a relationship with each property manager in a company every few months.

  1. What do you enjoy about being a Property Manager?
  2. Do you sell real estate?
  3. What makes income properties profitable and what elements are involved?

The Nitty-Gritty

It’s time for the details. What will this cost me? You should dig deep to find out all the possible fees that a property manager could charge you. Ask the following questions to get an accurate picture of how much you will pay:

  1. What is the monthly rate for your services?
  2. Is there a setup charge?
  3. What is your fee for placing tenants in your home?
  4. Are you charging for evictions or re-entrys?
  5. What is the cancellation fee?
  6. Can I approve my own expenses?
  7. Are you charging for maintenance?
  8. Do you send financial statements to your clients?
  9. What is the maximum rent I can get for my property
  10. Do you charge any other fees?

Who else is there?

A property management company is not just a partnership between one person. The property management firm will occasionally hire other people to work on your property. You should know who these people are before they arrive.

  1. Do you have a maintenance team?
  2. Do you hire licensed and bonded contractors for your projects?
  3. Do you conduct property inspections in your business?

What is Your approach to services?

It’s possible that you don’t need all of the services offered by a property manager, or that you want services above and beyond what is included in a standard fee. It’s therefore important to know how the PM will approach services, whether they’ll be flexible if you change your mind, and what their responsibilities are.

  1. What are the service packages you offer?
  2. Do you offer additional services a la carte?
  3. What is the price of each service package?
  4. What type of work do third-party contractors perform?

What sets you apart?

Find out what makes them tick. What is the difference between them? These final questions should help you determine who is the best fit for your long-term needs.

  1. What sets you apart from your competitors
  2. Do you offer discounts for multiple properties purchased?
  3. Offer referral bonuses and incentives to your customers?

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