Considering Hiring a Redding Property Manager? Here are 20 Questions You Should be Asking
Are you considering hiring a Redding Property Manager if so here are 20 questions you should be asking up front? When it comes to property management, it’s not as easy as it sounds. Like most professions, it takes people who have a passion for real estate, a unique set of skills, and natural talent for the job. However, because many people view real estate as a way to get rich quick, the field is full of those calling themselves property managers, but are simply people looking to make a quick buck. Thus, you get what you pay for when choosing a property manager. While it may sound impossible to find a good property management services or Redding property management company, by asking the right questions, you can separate the pros from the amateurs. To find out how here are 20 important questions you should be asking during your search.
What Services Do You Offer Clients?
When you’re looking for someone to manage properties, focus on what services they provide. Along with finding a company that can market, lease, sell, and manage properties, you also need to make sure they offer excellent maintenance services, property inspections, and thorough background checks on potential renters. If there is one thing we have learned over the years, it’s that by offering top-notch services to our clients, we have been able to set ourselves apart from the competition and establish ourselves as the company you can trust.
How Many Units Do You Manage?
While this may not sound important, it actually gives you great insight into the company with whom you’re dealing. If they have only a handful of properties, chances are it’s because they have lost clients due to poor service or are very inexperienced in the business. However, if they’ve got too many units, they may be trying to do too much at once. In general, it’s best to look for companies that manage anywhere from 200-600 units. As we have discovered over the years, being able to provide as much personal attention as possible to our clients has paid off in numerous ways.
What’s Your Level of Experience?
If you ask this and discover the person has never managed a property until now, it’s best to look elsewhere, since it’s a good bet they may not know much about real estate investing. However, when you work with us, we manage your properties like a long-term business, making the best strategic decisions to ensure your investment pays off as much as possible.
How Do You Determine Rent?
To determine an appropriate rent, a good Redding property manager uses not only their experience but also an in-depth market analysis of similar listings near the properties. However, we take it a step further by also factoring in other aspects of your rental property, such as a swimming pool, new kitchen, or other amenities.
Are You a Current Real Estate Investor?
If a company is not active in real estate investing, find another company because they probably lack the understanding needed to succeed in today’s market. That’s not the case with us, since we have been active in the market for years and understand what it takes to create a strong, consistent cash flow for your properties.
Can I Cancel My Contract?
If a property management company won’t let you cancel a contract, find another company. By offering great service, we feel that’s the best way to retain clients.
What About Management Fees and Pricing Options?
In this area, it’s best to opt for a percentage of collected rents. By doing so, the company has much more incentive to have few vacancies, since they don’t get paid if there are no tenants.
Are There Fees With No Tenants?
If there is one thing you want to avoid, it’s fees when your property is empty. After all, if a company charges you a flat rate fee even when there is a vacancy, how motivated will they be to find a renter?
Any Miscellaneous Fees?
Before signing a contract, make sure there are no miscellaneous fees. As business people know, if it sounds too good to be true, it probably is, so ensure you’re paying as few fees as possible. We have hear of and seen our competitors charging maintenance fee’s, set up fees, software fees and inspection fees.
What About Selling the Property?
While some companies will make you let them sell the property if you want to list it, we’re not like that. Considered bad business practice, we choose to give our clients as much flexibility as possible.
Is Direct Deposit Offered?
If a property management services company or Redding Property Manager doesn’t offer direct deposit to owners, they are far behind the times. If they can’t deposit your check into your account, there are probably lots of other things they can’t do as well.
How is Rent Collected?
To ensure you get paid as quickly as possible, make sure your property management company lets tenants pay online. If they don’t, look elsewhere.
Do You Offer Property Inspections?
A key aspect of this field, property inspections is a must to ensure problems are detected while they are still manageable.
Do You Help With Evictions?
Some property management firms will leave all eviction processes up to the property owner. Like any reputable company, we offer eviction advice and help to our clients. By doing so, we give our clients support should an eviction become necessary.
How Do You Market Properties?
Needless to say, using newspaper ads alone to market properties is a thing of the past. We realized this many years ago, which is why we also utilize a variety of over 50 online sites as well as signage and other means to ensure the properties of our clients are marketed as efficiently as possible.
What is Your Typical Vacancy Rate?
Based on our experience, we have found the average vacancy time is no more than four weeks. If it’s far less than this, we believe the rent is too low. If it’s longer than this, the manager is having trouble finding tenants, which should be a major red flag. In either case, you’re probably losing money, which is something we will not let happen.
What Income and Screening Requirements Are Used?
To find the best renters, numerous income and screening requirements should be used. We use a variety of requirements, such as references, credit checks, background checks, and minimum income levels to ensure not only will the rent be paid but that you’ll have the finest possible renters for your property.
Do I Have Control Over the Lease Agreements?
To have the best leases, you and your property manager should work closely together on the wording. We believe strongly in this, so we take the time to sit down with our clients and make sure the agreements are acceptable to everyone.
Are You UP Charged for Maintenance and Repairs?
If your property management services company charges you extra for maintenance and repairs, look elsewhere. By doing this, they are eating into your profits. Many property managers markup repair invoices on a percentage basis. Not here an Authority Property Management.
Do I Get Updates On My Portfolio?
Since your properties are your business, your management company should give you portfolio updates as often as possible. At a minimum, you should receive monthly statements, cash flow statement and a rent roll, but if needed sooner your company should be able to oblige.
By asking these questions, you’re sure to get the best possible management of your properties. When you trust your properties to us, that’s exactly what you will get. We are passionate about property management and want our property owners to succeed in all aspects of renting. Joline and I have been property managers for over 12 years now. We Make Owning Rentals Simple. Give us a call today! 530-410-6085 You can also shoot us your contact information for a free rental analysis.