Apartment Investing: Property Management

1 Reply

In regards to building a team. I have a list of CRE Brokers that I plan on contacting. I know it is suggested by @MichaelBlank to build up your team before calling so when asked about experience, you have a team in place which cancels any suspicions on being a newbie. With that being said, does anyone have suggestions on opening the conversation & the most important questions to ask when looking to hire a property manager? What their criteria is? Experience in units manager etc? I’m all ears Thanks!

If you are a newbie one of two things will happen in that call

1. they will know you are new or

2. You won't get the answers to all the questions you have.

I would prefer number one every time but your question was about property managers I would ask.

How do they screen tenants?

How do they market a vacant unit and what is their fee for doing so?

Do they have in house repairs or a list of trusted vendors?

General management fee?

Any other fees?

Are they licensed?

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