Best Questions to Ask Before Hiring a Property Management Company
So, you own a rental property, but you’re tired of handling all the responsibilities of a landlord. You know the best way to free up your time is to hire a property management company. But how do you choose the right company for the job? The trick is to ask the right questions. This way, you avoid wasting your time and money hiring an unqualified manager. Here are the four best questions to ask before hiring a property management company.
What services do you offer?
It’s likely you want comprehensive services from the company that manages your property. Ask about the specific responsibilities your manager will take over for you, including:
- Advertising the property
- Setting a market-appropriate rental rate
- Interviewing and screening prospective tenants
- Collecting rent
- Maintaining the property
- Handling legal matters
- Paying mortgage insurance
- And more
Tidewater Property Management takes on all landlord-related responsibilities so you can enjoy the financial benefits of your real estate investment without the time commitment.
How many rental units do you manage?
This is your way of asking how large the company is. Having few rental properties indicates that the company is either inexperienced or has lost clients due to poor service. Tidewater is currently responsible for about 250 communities, comprising more than 18,000 individual homes. How’s that for experience?
What fees do you charge?
This is an important consideration to help you determine the cost effectiveness of hiring a property manager, although profit should not be your only concern when hiring a property management company.
Each property management company has its own fee structure, but the most common is to collect a small percentage of the monthly rental fee, plus a one-time payment every time a vacant residence is successfully filled. Ask us about any other fees that apply, and keep our comprehensive services in mind. We want you to choose the most cost-effective option for managing your rental property.
Hire a Property Management Company in Maryland
If you’re looking for a property management company that can meet all your needs at a price you can agree with, Tidewater is the company for you. We specialize in managing real estate investments for clients who don’t want all the responsibilities of being a landlord. With our services, you free up your time to pursue further investments. Plus, you enjoy the peace of mind that comes with knowing your rental property is well-maintained and occupied by good-quality tenants.