So, you’ve decided to round up the best Antioch property managers around and decide which one to hire to help you manage your rental property.
This is great!
Investing in a property management company can lessen your load and maximize your ROI all at the same time. But not all property managers are created equal.
That’s why interviewing each company you’re interested in, before you sign on the dotted line, is the key to success. After all, you want to hire a reliable, experienced property manager that actually makes things easier on you.
With that said, we’re here to share with you the top questions to ask Antioch property managers near you to make sure you hire the best of the best.
So, let’s take a look.
Top 12 Questions to Ask Antioch Property Managers Before Hiring One
1. How Many Rentals Do You Manage?
There’s nothing wrong with hiring a property management company that has a lot of business. In fact, managing a lot of rental properties can be a surefire sign of success.
Just be careful and avoid hiring a company that is understaffed and overworked. Sometimes less is better when it comes to property management, especially if you and your tenants are looking for a personalized experience.
2. What Experience Does Your Company Have in Managing Rental Properties?
Believe it or not, some property management company owners have never managed an actual rental property.
Anyone can start a business. And usually all it takes is some basic knowledge about real estate to start a property management company.
That said, you definitely want to work with a company that has real-life experience in property management before handing over your investment to them.
3. What Types of Rental Properties Do You Manage in Antioch, CA?
Do not hire a commercial rental property manager to manage your residential property. If you do, chances are you’re going to run into problems with tenant screening, rent collection, and even maintenance and repairs.
Each type of property will require different management styles. Plus, the laws will vary depending on the property type. You want someone that’s familiar with your property type taking care of it and your tenants.
4. What Property Management Services Do You Offer?
The term “property management services” is very broad. The last thing you want to do is hire a property manager and later find out the one thing you really want done isn’t part of the package.
It’s important you prioritize the things you want handled by your property manager and make sure the company you hire offers that service. If you can’t get a list of services provided, move on to the next interview.
5. What is Your Fee Structure?
After finding out which services you can expect to receive, you should find out how much it’s going to cost you. Most of the time, you’ll pay a percentage of the rent that’s collected each month. However, some companies will offer competitive monthly flat fee rates to earn your business.
In addition, you should look out for the following “hidden fees”:
- Lease renewal
- Lump-sum maintenance reserves
- Supervisory fees for maintenance and repairs
- Early cancellation
- Property inspections
Don’t get blindsided by unexpected fees. Instead, learn about them from the start and make an informed decision before agreeing to work with a property manager.
6. How Do You Determine the Rent Rate?
A good property manager should be able to gauge the local market, compare properties that are similar to yours, and set a competitive rent rate. In fact, the rent should be high enough to earn you a generous profit, while also encouraging tenants to stick around.
If you have exclusive amenities like a pool, your property manager should be able to take that into account as well.
7. How Do You Collect Rent?
Another important thing to ask the Antioch property managers you’re interviewing is how rent is collected from your tenants. There are many ways to collect rent from people each month. However, in this digital age most people expect to be able to pay their rent online.
Find out if this is a possibility with your potential property manager. In addition, find out about how rent collection records are kept and how you can expect to find out about monthly income and expenses.
8. How Are Repairs Handled?
There’s a lot that goes into maintenance and repairs in a rental property.
For example, you’ll want to know the following:
- How tenants make maintenance and repair requests
- Who is in charge of scheduling the repairs
- What kind of communication you can expect when work needs to be done
- Whether there is an on-site maintenance crew or outside contractors
- How to pay for maintenance and repairs performed on your property
- What to do if your tenant has a complaint about a repair
Tenants love to complain about bad maintenance and repair processes. And rightfully so. When they can’t get a response or a timely fix, it can be frustrating. After all, your tenants have to live in your property; not you or your property manager.
If you want satisfied tenants that sign lease renewals, you’re going to need a property manager that offers timely, professional, and affordable maintenance and repairs.
9. What Role Do I Play in Lease Drafting?
Drafting legally compliant lease agreements should be the responsibility of your property manager. But that doesn’t mean you shouldn’t have a say in the lease provisions.
For instance, maybe you don’t want to allow pets or smoking in your property. Or maybe you want to give your tenants the freedom to paint, so long as they paint it back to the original color at the end of the lease term.
Whatever it may be, you should be allowed to have a say. After all, it’s your investment property. While your property manager can make sure it’s legally sound, you ultimately have the final say in some things.
10. Do You Perform Property Inspections? If So, How Often?
One mistake that property owners make is only performing move-in and move-out property inspections. The problem with this is that you lose sight of what’s happening in your property throughout the lease term, which is typically one year. And trust us, a lot can happen in the course of one year.
By inspecting your property regularly, your property manager can pinpoint small repairs and fix them before they become costly. They can also check up on your tenants and make sure they are happy. If they’re not, there’s a chance to fix it before lease renewal time. Lastly, it gives your property manager a chance to make sure your tenants are following the rules.
11. How Do You Market a Vacant Property?
All property owners know that vacancies are one of the worst things you can encounter. When there are no tenants in your rental, you don’t make money. In fact, you might even lose money depending on how much your mortgage is.
It’s important to find a property management company that knows how to market vacancies effectively. They should utilize multiple channels and understand the importance of high-quality images. In addition, they should be able to target high-quality tenants that want to lease your type of property.
12. What Kind of Communication Can I Expect?
Another important thing to clarify with your prospective Antioch property managers is the type of communication they have in place for you and your tenants. You’ll want to know what’s going on with your investment property. And your tenants will want to feel confident they can reach your property manager at any time.
In the end, a property manager that’s hard to reach is not a good one.
Picking from the list of Antioch property managers you’ve compiled can be tough if you don’t know what to look for. So, do yourself a favor and have a list of questions like the one above that you can reference during every interview to make sure you’re making a good decision.
And don’t forget to add Blue Line Property Management to your list of potential property management companies. To start, we’re an affordable, full-service property management company dedicated to doing it all for you. Plus, we know what it takes to market a vacancy, land a tenant in 29 days or less, and encourage lease renewals. So, get in touch with us today and ask us anything you want. We’re convinced that we’re the property management company you need in your life.