Blog Post

10 Questions to Ask about Property Management Services

Dustin Edwards • Apr 16, 2021

Key Questions Can Help You to Find the Right Company

Property Management Services
One of the most challenging aspects about calling a potential property management company is thinking about the questions you could ask them. The most obvious question that should be asked is “what is your management fee?”; however, that only tells part of the story. As many property management companies can quote the property management fee that might initially seem competitive or a great value you could be presented with unexpected fees down the road. To help you avoid surprises and to help you find the best possible property management company for your goals we invite you to consider the following 10 questions.

Question 1: What are the average days on market a unit in my neighborhood remains available prior to placing a tenant?

Items to Consider: Each day that your property is vacant is a day you aren’t earning income. When you ask this question make sure they are comparing your specific asset type (i.e. single family home, condo, duplex, etc.) and your neighborhood as there can be large variances the days a property remains available for rent.

Question 2 : What repairs do you recommend after each tenant?

Items to Consider: A healthy property is one that can get tenants staying for long periods of time. If a property management company says something like “we usually paint it and clean the carpets” they might not be paying attention to the smaller details that can cause challenges. Do they evaluate items such as ceiling fans or even test electrical sockets to see if they are working? The level of depth of the answer can give you an idea of how they could care for your property. 

Question 3: How long have you worked in my local market?

Items to Consider: The Long Beach rental market is one that can change in any given neighborhood. After all Park Estates is different from Los Altos and Bixby Knolls is different than either...which means finding a property management company that has rentals in your given neighborhood is key and preferably they have been there awhile as that helps them to accurately price your rental.

Question 4: Do you have any special programs? (i.e. Guaranteed Rent program) What are the conditions?

Items to Consider: In today’s era of new services there are companies who offer special “guaranteed rents”. Make sure to understand the fine print and other costs as some of these services/companies can charge ½ month’s rent just to market your property for the next tenant where they “guarantee” the rent! In a competitive market where properties might only be available for a day or two this high investment could outweigh the guarantee.

Question 5: How many calls each month, on average, do you receive from tenants with my type of property?

Items to Consider: While each tenant and property are different, getting an understanding of how many calls they handle per property can give you an idea of how they care for properties and the level of service you could expect. After all if it is a single property manager company and they handle 200 properties and they get 2 calls per property per month they might not be able to answer your call in the manner you would expect.

Question 6: Will you perform a rental analysis on my property? How often do you revisit this analysis?

Items to Consider: A rental analysis will evaluate your property much like you were preparing it for sale, but this is one for a rental. While there are free services to evaluate the market rent in Long Beach and nearby cities you will want to understand the depth of analysis the company will take as they can take into consideration unique upgrades, location variances, etc. to help you get top dollar.

Question 7: Can you share with me invoice examples?

Items to Consider: This is one that many people get nervous about asking; however, remember it is your money! Don’t wait for the first invoice to be a surprise, get a few different invoice examples to help you see what fees you could expect. If they won’t provide examples, that is a point of concern. Consider asking for the following invoices:
  • One where the tenant is in their second month of living
  • One after repairs were made
  • One when the property was being listed for rent

Question 8: Do you share with me a log of repair items that have been done to my property monthly? Annually?

Items to Consider: While it is the role of the property management company to get the repairs handled without bothering you it is important for you to get an idea of the health of your property.
 
Question 9: If I want to sell my rental property, do you have real estate brokerage services? Is there a discount if I am a property management customer?

Items to Consider: Even with the best of rentals in Long Beach there is a chance you still might want to sell it. Ask if the property management company lists properties for sale and/or if they will coordinate with an agent of your choosing if they don’t. Especially if the property is being sold as a rental you will want someone who can provide rent rolls and maintenance history to the next buyer.

Question 10: How do you keep up on the local ordinances and laws?

Items to Consider: Local ordinances, especially during turbulent times, can change rapidly. Find out what process your prospective management company has to stay abreast of changes to help keep your property safe from a legal challenge.

Finding the right property management services from the right company can be a challenge. If you’d like to ask us these 10 questions to see if we are the best fit for your Long Beach rental call us today at (562) 888-0247 as we’d be happy to help answer each one. When you want a quick check to see how much your property could fetch in rent we invite you to fill out our Free Rental Analysis where we perform a comprehensive comparison to share your rental stacks up to the competition.

Share this post

By Dustin Edwards 01 May, 2024
Everyone wants to feel safe in their homes. As an investment property owner, it's up to you to decide whether or not to include security measures in your property. Many of the costs associated with the security measures can be included in the rent, meaning not only can you keep your property safe, but you can earn more income in the long run. However, you would still want your tenants to have renters insurance to protect their assets. Today, we’ll discuss the top five security measures you can add to your property and why they're beneficial to you and your tenant. Security Cameras Cameras are probably one of the first security measures people think about when asked about security. Cameras provide more benefits than just surveillance. They provide an extra level of security for the safety of the tenants and their belongings. Additionally, security cameras can be useful when repairs are required. Cameras can aid in supervising repairs and maintenance to ensure you’re receiving the agreed-upon work. During vacancies when the property is empty, security cameras can help keep the property safe from potential intruders. Doorbell cameras are incredibly popular now. They provide the aforementioned safety of a camera that can be accessed remotely, as well as the ability to communicate with visitors. Although one must be careful never to say you're not home, just say you're unavailable to strangers. Security Lights Security lights with motion detectors are another effective tool when adding security measures to your property. These lights brightly if a potential intruder attempts to get near your home. They can provide enough illumination to see the intruder or, at the very least, scare them off. Nowadays, you can find a combination of security cameras and motion-activated security lights, such as the floodlight cam wired plus from Ring . Additionally, because these lights only turn on when motion is detected, they’re more cost-effective than traditional lights with a switch. Illuminate the Property Light generally deters intruders as it's more difficult to hide. Adding lighting to the landscaping can increase the security of the property while creating a relaxing atmosphere. Lights can also be used in other areas of the property to accent features such as trees, benches, or artwork. This can help your property stand out while giving your tenants an additional feeling of safety. Keyless Entry Keyless entry is seen as both a convenience feature and a security feature. They usually use an electronic passcode, biometric data, or grant access through a smartphone app. Physical keys can be lost, stolen, or duplicated. You reduce the risk of unauthorized entry by eliminating the need for a physical key to enter the property. Many keyless entry systems include several features, such as remote locking and monitoring. Although keyless entry is a great new technology for keeping your tenants and properties safe, they’re best used with other security systems. Security Company Nothing beats having an extra pair of eyes on your property for security. This is where security companies like ADT and SimpliSafe come in. While companies may deal with security in varying ways, they aim to protect your investment. While safety is the primary role of a security company, remember that many tenants may be willing to pay more for a premium amenity like a home security company. Keeping your property and tenants safe is incredibly important to the longevity of an investment property. If you’re looking to improve the security of your Long Beach rental property or need help managing your beach city rental property, we invite you to call us today at (562) 888-0247 or fill out our Owner Application online .
By Dustin Edwards 19 Apr, 2024
Communication is key to maintaining good relationships with clients. However, there are several ways to communicate, so we intend to give you the best methods we've explored.
By Dustin Edwards 10 Apr, 2024
If you're thinking about how much different managing condos are from single-family homes, look at these top 5 reasons.
Show More
Share by: