4 Questions to Ask When Interviewing a Property Manager
Hiring a property manager is a big decision. You’re essentially asking for them to watch over one of your largest investments. Hiring the wrong property management company can have a real negative impact on how profitable your real estate venture is and the condition of your property. If you sign a long-term contract, you could end up stuck in a situation you want out of. That’s why interviewing prospective property management companies is so important. When selecting property management companies, Miami Beach owners should ask specific questions to determine whether it’s a right fit. Here are four questions to ask.
1. What Are the Associated Costs?
Always ask for details on what things will cost. Property management companies typically take a percentage of the gross rent tenants pay. Some will charge a tenant placement fee. Owners should know how much the company charges per hour for contractors, and if the contractors are in-house or subcontracted out. It’s important to ask about any other costs you will be responsible for.
2. How Do They Handle Customer Service?
When finding a property management company, Miami Beach has several options. Choosing a management firm that is committed to excellent customer service will make a huge difference in your experience. There’s nothing more frustrating than having questions or phone calls go unanswered. Ask if you’ll have a dedicated account representative, and how they typically communicate with clients.
3. How Are Their Processes?
Ask them how they manage problem tenants? How fast do they typically respond to something like a burst pipe? Get a feel for the company’s sense of urgency. You want to know that they are on their game when it comes to your property.
4. Ask About the Rest of Their Portfolio
If the property management company in Miami Beach you’re interviewing has never managed a property like yours, you may be in the wrong place. Ask them how many other homes or commercial facilities they have under management. What is their strategy for protecting their properties and making them as profitable as possible? What’s better is if they have their own portfolio, then you know they have skin in the game.
For a property management company, Miami Beach’s JMK Property Investment is a great option. We’re a premier commercial and residential management company that’s been serving the area for years. Our dedication to excellence and meeting client goals has made us an industry leader. Contact us today to learn about how we can help with your property management needs.
