When you need to hire property management company then it is very important to ask the right questions while interviewing them. You must know what exactly to ask the property manager so that you will be able to hire the right property management company to manage your rental property. It is not necessary that every property management company in Maryland is reliable and experienced hence you must be careful while hiring them. For finding the right property management company you must ask fewer questions that will help you to decide which company would be better to managing your Maryland rental property. So, here are some questions that you must ask to your property manager to decide whether to hire them or not.
How Many Units Do You Manage?
You must ask them how many units they are currently managing or they are able to manage. Suppose they are already managing 50 units and you will assign more to them do you think you will get a quality service from them?
What Type of Property Do You Manage?
Different property management companies manage different types of properties so you must ask what type of properties they actually manage. Whether or not they will be able to manage the type of unit you own. Suppose you have 10 units of building and property manager is only experienced in managing one family property then they are too inexperienced for you.
What are Their Charges and Cost of Maintenance
Make sure they handle everything from maintaining your apartment to finding the renter and doing background check- everything that a property manager does. And ask what will be their charges for this and how they will add the maintenance cost. Whether they have their own maintenance crew or they will hire handy man? If yes! Then what would be a cost of it?
What Steps Do You Take to Market Properties?
Your property manager should market your properties through various channels and know where exactly to advertise to find quality tenants. If they are using the old tricks with pamphlets and newspaper advertisement and hoping for best then you should stay clear.
How Long Your Properties Are Remain Vacant?
The common timing for a property manager to ready a property and finding renter is 2-3 weeks. And if the property is vacant for more than this then, the manager is facing difficulties for finding tenant and this could be happened with your property too.
How Do You Screen Tenants?
You must ask whether or not they screen tenants and if yes then how? Ask them about the screening procedure. Do you have a system for checking prospective tenants with regard to credit worthiness, past rental history and current employment?
Apart from these things you also must ask about their company license and registration to know their authenticity of managing properties. This way you can hire right property management company in Maryland for managing your rental property.