Web Admin – July 11, 2013
Investment property owners often wonder which questions to ask when they are interviewing a potential property management company in the Utah area, including Salt Lake and Utah County. The first thing we recommend you do is to look at the company’s website and read some reviews on Google. Check out any recommendations or references that are provided from their current clients. If that information is not provided on the website, definitely ask for it. Take an extra step to verify any references. Call the clients and talk to them. Make sure any references are legitimate.
Interviewing a property manager means hitting a few key points and asking some important questions. Start with asking about what they do for marketing. You want to know how extensively they will market your property in order to find the best tenant. Ask how much they charge for these services. If a company charges you extra for advertising, that can get very expensive. So, be specific when you are asking about marketing and advertising.
Ask how tenant screening is handled. Find out how in depth they are with the screening process. It has to be thorough. This is the most important part of ensuring your investment rental property is taken care of. Proper tenant screening is never negotiable. Also, find out how rent is collected. You will need to know when you can expect to be paid and whether the deposit will be made electronically or with a paper check. While you are on the topic of payment, ask what kind of reports you’ll be receiving. Another good question is whether you will be charged for the year end report at tax time.
Inspections should be another part of your discussion. Some property managers will take on a property and then sit on it. They will never see the place again and never go back out to check on its physical condition and the tenants. It is very important to ensure your property is inspected regularly so you know the tenants are taking care of it. Be sure to ask about the inspection procedure. Maintenance is another topic you need to discuss during the interview. Responding to routine and emergency maintenance requests is a critical part of the property management process, so ask about the established procedures and fees.
Finally, you will want to find out what happens if the worst case scenario should show up: an eviction. Ask the property managers how they plan to handle an eviction, and what, if anything, they do to prevent it.
If you have any questions about property management, please contact as Sentinel Management Group. We specialize in properties in Salt Lake and the surrounding area, and we’d be happy to help you.