What to Ask a Property Management Company

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.