Looking to get a property management firm. Including the obvious, what questions should I asking? Is there anything that should be a red flag.
Thanks in advance…
ratled
Looking to get a property management firm. Including the obvious, what questions should I asking? Is there anything that should be a red flag.
Thanks in advance…
ratled
The main things to make sure of with a management co. are:
If you decide to manage your own property you can get lots of info from this site REICLUB and a few others including
www.thelpa.com
www.mrlandlord.com
www.landlord.com
Good luck
Here are a few more questions to add to the list:
Is the property manager certified (or, have a CPM designation)? Maybe less important, but a related question would be: Is the property manager a member of the National Association of Residential Property Managers?
When will proceeds be distributed to the owner (In the same month as collected, or held back one month)?
At the end of the year, what amount goes in Box 1 on your 1099-MISC – net proceeds after management fee and other expenses, or, gross rent collected. The answer makes a difference.