The property management checklist
Making a decision about who you entrust your property with is one of the biggest and most important decisions you will make and it will have an affect on every aspect associated with your investment property, therefore it needs to be made on a fully informed basis.We invite you to use our checklist following as a benchmark to ensure that you do obtain a full understanding of what is being provided by your Property Manager – you deserve to know exactly what quality and range of services you are paying for.
Ask the hard questions; get the answers you need…… Property Leasing
- How many properties do you have currently under management
- On average, how many properties do you lease each month?
- What is your average vacancy rate?
- How many properties are allocated to each Property Manager?
- How many Property Managers do you employ?
- Do the Property Managers personally show prospective tenants through the properties? Yes/No
- Do you provide a prompt, appointment setting service to prospective tenants?
- What marketing strategies are applied and how effective are they?
- How are prospective tenants processed; how much information is obtained and how is it verified?
- How long does an application take to be processed – do you consult the owner for approval?
- What Property Management systems do you use?
- What is your process for dealing with rent arrears?
- What are your procedures for repairs and maintenance?
- Are all of your contractors and service providers licensed and insured?
- Do you obtain and provide quotes for all maintenance & repairs to ensure it is competitively priced?
- How frequently do you inspect your properties under management?
- How experienced are your Property Managers?
- What training have they undergone? What licenses do they hold?
- How often will you account for rent monies collected on my behalf?
- Can you forward my statements by email and deposit my money in my bank account electronically? Yes/No
- What references can you provide from satisfied clients?
- Does the agency have documented service standards? Yes/No
- What support systems or staff are available in the event my property manager is sick or on holidays?
- How often will you communicate with me and what form will it take?