When you’re searching for a property management company to handle your Seattle rental, you can learn a lot when you spend some time interviewing. Most people start by researching a company online, and that’s a good idea. Check out a property management company’s website and get an idea of what kind of work they do and what their clients and tenants think about their services. Then, make a few phone calls or schedule a few meetings so you can determine which company will be the best fit for you and your property. Here are some interview questions you don’t want to miss.
Ask about experience. If you own a single family residence, you don’t want to waste your time with a property manager who only works with condos and apartment buildings. Find out how long the company has been in business and what they can bring to your property that other companies cannot.
Most importantly, are they a CRMC ( Certified Residential Management Company )
Advertising and Marketing
Ask for examples of how your property would be advertised to potential tenants. You’ll want to know which websites they use, whether they offer referral commissions to real estate agents and how important they think signs are. Talk about how long it typically takes the company to get a vacant property rented.
Getting the right tenant into your property is critical, and an extensive screening process is necessary. Find out how a property management screens tenants and what they look for in terms of credit, income, rental history and criminal backgrounds.
It’s always best to work with a property management company that is well-known and respected in the industry. The National Association of Residential Property Managers (NARPM) is a reliable and professional organization that the best property managers often participate in. Ask your potential property management company how their property managers stay current in the field and what they do to continue their education.
Policies and Procedures
Get as many details as you can about a property management company’s policies and systems. You want to know how a lease is written, where security deposits are kept, what happens if there’s an emergency, who performs maintenance, how often inspections and conducted and what the procedure is when a tenant doesn’t pay rent. If a property management company does not have a specific procedure in place for every situation, you should look for one that does.
Ask how rent is paid and what you can expect in terms of financial reporting. Each company has its own way of collecting rent and getting it to property owners.
It’s important to be thorough and detailed when you’re interviewing potential property management companies. If you’d like to talk about our services or you need more information on how to find the best company for your property, contact us at Dave Poletti & Associates, and we’ll happily help you out.