Tweet
I would like to put together a helpful list of smart questions to ask PM companies as I try to research the best one.
Based off of my initial research, I'll provide the ones I can generate.... But I would really appreciate if people could add additional ones based off of their own experience or knowledge. *(provide your ideal answer if you know it)
1) What is your vacancy turn-over rate?
A: I hear 2 weeks between vacancies is good. Anything @ a month or later is not ideal and should be avoided.
2) Finders fee for new lease tennant.
A: It seems 0-100%, naturally lower is better.
3) Monthly PM fee.
A: Seems like 10% is standard acceptable, but lower is better.
4) Do they offer lease break guarentee?
A: If a lease agreement is breached, they'll either find next lease for free.
5) How do you handle repairs?
A: Do you provide itemization for repairs to owner? Is there a threshold you can set up, so I can shop around for larger repairs that may be more than X*hundred dollars?
6) How do your provide statements to owners?
A: to make tax reporting easy as possible.
I kind of go blank after here.... I assume every PM does credit checks and asks for price tolerance. But if you guys have good ideas to elaborate on my questions/expected answers or add more, I'd really appreciate it!
Based off of my initial research, I'll provide the ones I can generate.... But I would really appreciate if people could add additional ones based off of their own experience or knowledge. *(provide your ideal answer if you know it)
1) What is your vacancy turn-over rate?
A: I hear 2 weeks between vacancies is good. Anything @ a month or later is not ideal and should be avoided.
2) Finders fee for new lease tennant.
A: It seems 0-100%, naturally lower is better.
3) Monthly PM fee.
A: Seems like 10% is standard acceptable, but lower is better.
4) Do they offer lease break guarentee?
A: If a lease agreement is breached, they'll either find next lease for free.
5) How do you handle repairs?
A: Do you provide itemization for repairs to owner? Is there a threshold you can set up, so I can shop around for larger repairs that may be more than X*hundred dollars?
6) How do your provide statements to owners?
A: to make tax reporting easy as possible.
I kind of go blank after here.... I assume every PM does credit checks and asks for price tolerance. But if you guys have good ideas to elaborate on my questions/expected answers or add more, I'd really appreciate it!
Comment