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Selecting A Property Manager

Selecting a Property Manager who will represent you in the marketing and management of your home may be one of the most important decisions of you life. This selection process is just as important as selecting any other professional such as your family doctor, dentist or attorney. The person selected should be working for you, always keeping your best interest in mind. He or she will be directly involved in advising and counseling you about a large portion of your personal assets.

This person must have your confidence and trust. Before interviewing property managers, you should determine your criteria for choosing that person. I suggest that you evaluate that person on the following categories:

  • Appearance, demeanor and attitude -- How comfortable do you feel in working with this person? How comfortable will your tenant feel?
  • How strong is the overall marketing plan and presentation?
  • Does the company have access to the Multiple Listing Service?
  • How else will you market my home?
  • How throughly has he or she discussed their services and what you should expect from the process?

Also, I suggest you ask the following questions during the interview process:

  • How willing are you to assist you in decisions?
  • How involved will I be in the decision-making process?
  • Commitment -- Are you full time? Professionally trained?
  • How many years of experience do you have?
  • How many properties do you manage? How many that are like mine?
  • Can you provide me with references from current clients?
  • Are you a REALTORŪ? Do you belong to any property management related organizations?
  • How often will you inspect my home?
  • How will you keep me informed about the property?
  • How available are you? What are your hours?
  • Do you have a toll-free phone number? E-mail?
  • Speed of processing rent checks -- when will I get my money? Will it be deposited into my account?
  • What if I'm not happy with the service I receive? Will you guarantee my satisfaction in writing?
  • How do you handle repairs? Do you use contractors or your own staff?
  • What are your fees?
     
     

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