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Ultimate Shopping Guide to Partnering with a Professional Property Management Team

10 Essential Questions You Should Ask Your Potential

Property Management Partner

Whether you’re a new or seasoned real estate investor, choosing the right team to partner with you to make your investment succeed is essential. While some investors do choose to self-manage, we believe that adding this type of asset to your financial portfolio should be more gratifying than stressful.

That’s why we always encourage real estate investors to choose a team of professionals that have the experience, knowledge, trusted partners and commitment to keep your investment on track. When you partner with the right property management team you’ll spend less time worrying about if you’re doing everything right and more time on the things that truly matter to you – like spending time with family and friends, self-care, hobbies, etc.

So how do you choose the right team to help you manage your investment/s?

This guide delivers a breakdown of what makes a great property management partner and suggests essential questions you should ask any prospective PM team. The goal of this guide is to help you more easily navigate the process of researching and partnering with a professional property management company.

 

Here is an overview of the questions you should ask your prospective property management partner and what we plan to cover in this guide:

1.  What makes your property management company different from the rest?

 

2.  What are your core communication values?

 

3.  How well do you know the market I’m investing in and will you easily be able to guide my property toward financial success?

 

4.  What is your staff to unit managed ratio and where are the personnel located who will be managing my property?

 

5.  Do you have a marketing & contracting procedure in place to ensure my property gets the right tenant quickly and receives the best ROE?

 

6.  Do you know the housing laws in this specific market and are you equipped to handle legal requirements when the need arises? 

 

7.  Do you have a set procedure in place to handle general and emergency maintenance situations?

 

8.  What other procedures, software, and partnerships do you utilize to streamline the service you provide while also ensuring that nothing is overlooked?

 

9.  Is there a good balance between your property management fees and the quality of service you deliver?

 

10.  How do you measure success regarding my investment?

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