Once you’ve decided to pass on the responsibility of managing your rental property investment to a property management company, you are effectively turning your property into a source of passive income. You pay an agreed-upon fee to the property management company and they take on almost every task related to taking care of the rental property.

From thereon, finding tenants, maintenance of the property, rent collection and all the other related tasks will be performed by the property management team. What is more, rental owners also get to enjoy a number of other benefits by hiring a property management service, including discounted property insurance, tax write-off on fees paid to the property manager, and more.

However, rental owners need to make sure that they are recruiting a reputed and quality property management service for their rental property. This way, they can rest assured that everything will run smoothly as long as their rental property is concerned and that they will get the maximum value for their bucks.

Rental Property Management Houston: Choosing the Right Service

Now, choosing a quality property manager typically involves two steps. First, you should know the essential qualities to look for in a property manager and should shortlist a number of property managers or management services based on that knowledge.

The second step is to know what questions to ask your shortlisted property managers so you can find the very best one for your particular requirements. In the present article, we will discuss in detail this second step in the process. (Of course, these two steps do overlap to a good degree during the actual screening process. However, for the sake of convenience and clarity, we’ll keep them separate for the time being.)

Questions to Put to a Rental Property Manager

Below are a series of the most important questions you should put to your shortlisted rental property managers to find the one most suitable to look after your investment.

• How many rental properties similar to your own do they handle in the area?
• How often do they go on property inspections?
• What online tools, software, and technologies do they use for communication, rent collection, real-time reporting, tenant screening, etc.?
• How do they deal with problem clients and whether they can relate any past experiences on such matters?
• What other fees you should be aware of other than management and letting fees?
• What do they do to find good tenants in a difficult rental market?
• What their policies are regarding rental arrears?
• What methods do they use for tenant screening (checking eviction history, criminal and credit check, etc.)?
• Are they well-versed with all current state regulations and tenant/landlord legislation?
• How are their average days on the rental market?
• What are their list to lease price ratios?
• What are their vacancy rates?
• Are all tradespeople of the company licensed?
• How long have they been in business?
• How is the company’s customer support structured and who will act as your primary point of contact?

Answers to the above questions will give you a clear enough idea as to the efficiency and competence of the property manager/ property management service in question and will help you make an informed decision.

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