What to Ask a Property Management Company
Posted on Sep 16, 2015 3:03pm PDT
If you own rental properties, you should hire a property management company.
A rental property management company helps you find and screen tenants,
maintain your properties, and deal with complicated issues like evictions
and collections. This will save you time, money, and stress. Before choosing
a property management company, ask potential property managers these simple
questions.
Property Maintenance
Find out what repairs and maintenance issues the
property managers will handle. Some property management companies charge an additional monthly
fee for maintenance costs. Find out if the property company employs a
maintenance and repair crew, or if they contract these services out to
a third party. Each rental property management company should be able
to tell you exactly what repairs and maintenance issues they can handle
themselves, and which ones they aren’t prepared to handle.
Legal Issues
You’ll want to understand the legal issues related to your contract
with a property management company, and how the property managers will
handle legal issues related to tenants. Find out whether you’re
able to terminate your contract at any time, or if it has an expiration
date. You’ll also want to know if there is a termination fee. You
should also get a detailed explanation of how the property managers handle
tenant evictions and collection of past due or unpaid rent. They may contract
out to a collections firm or law firm to handle these matters, which can
subject you to further fees.
Tenant Issues
Property management companies should have a stringent system in place
to screen tenants prior to letting them rent your property. This should
include credit checks, background checks, and checking rental references.
You also want to know how and where they will advertise vacancies in your
rental property.
If you’re looking into
property management companies near Beverly, MA, contact us at MRS Property Management. We are a private, family-owned
property management company that has been serving Massachusetts since
1990. We provide affordable, quality property management services and
superior customer service. For more information, visit our website, or
call us today at (978) 578-2793.