Real Property Management
Cape Cod Property Manager: The Top 10 Questions to ask one before hiring.
You will likely find a good number of Cape Cod property managers that will take care of repairs, maintenance, evaluations, rent collection, advertising vacancies, showings, tenant screening, background checks, and other aspects. So which one is a good fit for you? Here are the top questions that need to be asked:
- What is the monthly rate? This can be as high as 10%. Real property management’s rate is lower and has guarantees. There is also a 60-trial period. Also ask what the rate includes.
- How are maintenance issues handled? Good maintenance means more long term rentals and shorter vacancy. Are costs reviewed and budgeting planned?
- How are Emergencies handled? What is an emergency? Do they trouble shoot over the phone before an expensive call is made?
- Do they have an online portal? Online portals offer the landlord a view as to how transactions are being handled. When the money is being dispersed and bills being paid. Real Property Management Associates provides you with a personal online account. You can check on the status of your property, view important notifications, access your monthly financial statements, and also get tax reporting information. You can also access pictures, leases, rents, evaluation details, maintenance activity and comprehensive financial reports – whether you have a single property or a whole portfolio.
- How is the Tenant being managed? Collection of rents, property evaluations, complaints from neighbors.
- Ask for a copy of the Management Agreement and Schedule of Fees. You need to understand this and ask questions.
- How do they communicate to out of state or distant landlords? Do you need a Cape Cod property manager, but do not live in the area? How often is a property evaluation? Do they send you pictures or video? Is yearly budgeting performed?
- How do they find tenants? You don’t want the expense of replacing a tenant every year, longer term tenants help reduce costs. Do they use a score card system when evaluating applicants?
- Do they manage your type of residence? Commercial management is different from residential, which is different from condo management.
- How many clients have they lost during the past year? This may be more important than how many they manage.
There are many more question that can be asked when evaluating a Cape Cod property manager, such as questions on; eviction services, do they just manage, or both manage and sell, do they lease – but the above list is a good starting point for evaluating a Cape Cod property manager.
Would you like to learn more about our services? Call Real Property Management Associates (508-509-4485) for Cape Cod yearly and seasonal property management.