Property management is an essential part of real estate investments. Because I not only work with buyers and sellers but commercial real estate investors as well I can help you manage your property, keep you up-to-date on the most current laws and codes, and handle all of your transactions, deposits and tenant needs in a timely manner.
Here are several questions that you should ask your property manager.
Are you licensed?
You always want to go with a licensed property manager for the county and city that the property is located in. This means that the agent is taken and approve property management course and a state licensing exam. This keeps things professional and legal.
Ask about fees.
You want to talk about the fees and costs involved in having a property manager run your properties. How much does the initial advertising cost? What are the ongoing monthly costs? How will you handle repairs and replacements?
Ask about communication.
Make sure you feel comfortable in the way that the property manager communicates information about the property to you. Do you prefer text, email, or a phone call? How much responsibility would you like to take on versus allowing your property manager to handle?
Ask about time frames.
How long will it take for a tenant to get repairs done? How long does it typically take to rent a property? How long will property be vacant? What happens if the tenant does not pay? And, what is your responsibility is the property owner?
Ask about the contract.
Make sure you have a written agreement that includes a termination clause. If you are unhappy with your property manager there needs to be a timeline set forth in order to move the property either back into the control of the owner or with another property manager. Thoroughly review the contract so that you are well aware of all the details and the authority of the property manager, the tenant and the owner.
If you’d like to ask any of these questions to our office, please contact us today. We managed many properties throughout Central Florida and would love to help take the burden of managing your own property off your shoulders.