Property Manager Vetting Questions

[Nina Granberry]

Hello BP Community

I am wondering, what are some good questions to ask to vet a potential property manager?

What things are you supposed to look for in a property management relationship? Do you recommend any podcast episodes that you've listened to that would be helpful for me to check out?

The reason I ask is because I am considering self managing my first rental property. I have been given advice to try it for a year, learn the process for myself, so that I know what to look for in a PM company. I recently finished Brandon Turner's book on managing rental properties and am now on to the book on rental property investing. So, with that information I feel confident in doing it for a year. But in the meantime, to prepare for future PMs, I would appreciate your thoughts. Thanks!

[Tim Jacob]

Id ask questions like how many properties do you manage?  Where are they?  Why do they manage there and where do they not?  How long have they been in business?  Do they evict for free if they  place a tenant?  They should.  Do they upcharge during vacancy.  They shouldnt.  What are their rates?  Do they have good sub contractors and vendors?  Do they have a handyman?  Don't ask them for their names its unreasonable to ask for that.  You can get some of those from receipts once you know them from the pm.  Its a risk for someone to give free contractor info in case you stiff them and hence hurt there relationship with that contractor.