10 Questions to Ask Your Western Wisconsin Property Manager
Renters Warehouse Blog
Do you have a rental property in Western Wisconsin? When you're ready to choose a property manager, make sure that you're asking the right questions--both questions that will help you understand if it's the right property management company for you and questions that will help you better determine how things will work with your property management company.
1. How much does it cost?
In order to determine whether a property management company will work for you, you need to take a hard look at the price: How much it will cost on an ongoing basis to use the property management company. Does it fit with your budget? Can you raise rent a little to help cover those expenses?
2. Where do you typically manage properties?
When you work with a property management company, you want to know that they have experience in the same general area as your rental property. This can help with rent price analysis, connecting with contractors in the area, and many of the other tasks associated with rental management.
3. How do you handle maintenance requests?
When a maintenance request pops up, does the property management company use a single provider in the area, or do they take estimates? How do they choose which company to work with?
4. How does your rent collection process work?
You want a property management company that has a streamlined rent collection process in place to help increase the odds that you will get paid on time. An online rent collection method, for example, can make it easier for tenants to pay rent and increase the odds that you'll get paid in a timely manner.
5. How do you quickly fill empty properties?
You can't afford for your property to sit empty long-term, especially if you're relying on that income stream or need to pay the mortgage. If you do have an empty property, how does your property management company take care of filling it quickly?
6. How do you handle tenant screening?
While you want your rental property filled quickly, you also want to be sure you're getting high-quality placement. How does the property management company handle tenant screening to ensure that you get reliable tenants who will take care of the property?
7. What tasks does the property management company handle?
When you hire a property management company, it's important to know which tasks they will take care of. What will they do for you? How do they handle your property? Make sure you understand what the property management company will offer so that you know what else you need to take care of. Do they have added services?
8. What reports will you receive, and how often?
Ideally, you want a property management company that will keep you in the loop, but not inundate you with information that you don't need or reports that you don't want.
9. What types of properties do you manage?
Some property management companies choose to specialize. Some might handle apartment complexes, while others focus on single-family units. Look for a property management company that handles the type of property you own to make it easier to choose the one that's right for you.
10. How many properties are you currently managing?
Ideally, you want a well-established property management company that has the experience needed to handle your property, as well as solid contacts within the community.
Are you ready to choose a property manager for your western Wisconsin rental home? Contact us today to learn more about the services we offer and how we can help make your property easier to handle.
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