87 Questions For A Potential PM?

Question

I heard about "87" questions to ask a potential PM. Does anyone have a copy to share?

Drew Sygit · Answer

@Charlotte Goodman hope you are NOT planning on just emailing a list of questions to several PMCs and evaluating them that way.

The best PMC's will also be evaluating YOU and most won't respond to a list like this.

Why?

Because managing someone else's property is about building a relationship.

Many newbie investors think PMCs, tenants, servicetechs, etc., can be vetted and worked with like a computer program.

You can find companies like this, but if you want to treat them like a computer program - they will treat you the same way!

You'll just be a profit number to them, nothing more.

And you better hope that nothing crazy or unusual happens with your property or tenant!- You'll find these issues will "crash" the computer-driven PMCs processes and nothing good will result.

Think of average customer serivce these days with frustrating AI-bots, offshore reps and what happens when your issue doesn't fit in one of their FAQs processes.

BTW: highly recommend YOU study the questions you plan to ask!
- How well do YOU understand them?
- What answers are YOU really looking for?
- How will YOU know the answers are truthful and who to believe?

Good luck!

Jeremy Horton · Answer

Is that your first question?

Curtis Waters · Answer

Biggest items to vet a PM:

Do they personally own rentals in your area - and you will use the same vendors?

How do they manage tenant delinquency?

What are their markups on renovation during a tenant turnover?

Do they own the renovation company (potential red flag for markups)?

Please don't choose a PM based only on a percentage of rent.  All PMs have similar costs & find a way to normalize their income.  If PM A charges 8% of collected rent & PM B charges 10% - that isn't the full story.  Perhaps A lowers your rent expectation & gets $100 less per month than B.  PM B would be the better choice for your net.  PM B might charge higher for tenant turnover as well.

It's not what you pay - but what you net - that matters.

James Jones · Answer

I’ve seen that list floating around, but in practice the number isn’t what matters. The categories do.

When we vet property managers, we focus on a tight framework rather than dozens of one-off questions:

1. Leasing & Screening

How do you screen tenants, verify income, handle vouchers (if applicable), and set rent pricing?

What does your average days-on-market look like?

2. Maintenance & Vendor Control

How are work orders submitted, approved, and tracked?

Do you mark up maintenance, and how do you control costs and response times?

3. Communication & Systems

What software do you use?

How often do owners get updates and financials?

Who actually answers tenant calls and after-hours issues?

4. Financial Controls

How are security deposits handled?

When are owner payouts sent?

How do you handle owner approvals and large repairs?

5. Problem Management

What’s your eviction process and timeline?

How do you handle nonpayment, lease violations, and difficult tenants?

If a PM can’t answer those clearly and confidently, 87 questions won’t save the relationship.

Basit Siddiqi · Answer

From what I gather from a PM.The  most important items are 1) How quickly they can turnover a property, get it rent ready and to find a tenant2) How well do they manage overall expenses and their ability to find reliable and well priced contractors(if they don't have an in-house rehab team)3) PM Fees are important but the others are more important.As a professional, I might allow a prospective client to ask a bunch of questions but It also depends on the flow of the conversation. If they schedule a call and goes straight to the quesstions without feeling eachother out, I would likely think he is calling a bunch of professionals and does not really know what the person wants.

Allison Park · Answer

Here’s a comprehensive list of 87 questions you can ask a potential property manager, sourced from Nest Finders’ detailed guide 1. You can tailor them to your specific property type, location, and investment goals:

⸻

🏢 1–10: Experience & Background

Do you have experience with commercial and residential properties?

How long have you been in the area?

How many properties do you currently manage?

What types of properties do you specialize in?

Have you managed properties in my specific neighborhood?

Do you personally inspect properties or delegate that?

What certifications or licenses do you hold?

Are you affiliated with any professional organizations?

Have you ever owned rental property yourself?

How do you stay updated on real estate laws and regulations?

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📊 11–20: Reporting & Communication

What kind of reports do you provide for my CPA?

What methods of communication do you use with owners and tenants?

What’s your typical response time?

How do you rate your communication skills?

Who will be my primary point of contact?

Do you use property management software or tracking tools?

Can I access data in real time?

How do you handle owner approvals for repairs or expenses?

How transparent are you about fees and vendor charges?

Can I see a sample owner statement?

⸻

🧾 21–30: Tenant Screening & Leasing

What methods do you use to screen tenants?

What’s your tenant turnover rate?

Do you know your cost of vacancy?

How do you price rentals and adjust rates over time?

What’s your process for leasing, renewals, and vacancies?

Do you charge leasing or tenant placement fees?

Are there additional fees for lease renewals?

Do you charge when the property is vacant?

What’s your average time to fill a vacancy?

How do you incentivize tenants to renew?

⸻

🛠️ 31–40: Maintenance & Repairs

What maintenance services are included in your fee?

How do you handle large repairs and owner approvals?

Do you have a team of licensed contractors?

How do you track maintenance requests and costs?

Do you require a reserve fund for repairs?

How often do you perform routine inspections?

Do you or your team drive by properties regularly?

How do you handle emergency repairs?

Do you charge for property inspections?

How do you manage vendor relationships and pricing?

⸻

💰 41–50: Fees & Financials

What is your management fee structure?

Is it a flat fee or percentage of rent?

Are there any hidden fees I should know about?

Do you charge for marketing or advertising vacancies?

How do you handle maintenance costs and markups?

Do you charge for lease renewals or tenant placement?

Do you charge when the property is vacant?

How are distributions handled?

Will I receive an itemized breakdown of expenses?

Can you share examples of how you’ve improved ROI?

⸻

📈 51–60: Performance Metrics & Reporting

What are your targets for move-outs, collections, and tenant engagement?

What’s your lease renewal rate?

What percentage of tenants have you evicted?

How do you measure tenant satisfaction?

What’s your average vacancy rate?

How do you track and report on financial performance?

Do you provide monthly or quarterly financial statements?

How do you handle late rent payments?

What’s your process for eviction?

Do you have errors & omissions insurance and general liability coverage?

⸻

🏘️ 61–70: Local Market & Growth

Where are most of your properties located?

Do you manage other properties in my neighborhood?

How well do you know local building codes and fair housing laws?

Do you conduct market rent surveys?

How do you handle dynamic pricing and marketing spend?

Can you grow with me if I expand my portfolio?

Do you belong to local real estate associations?

Have you been featured in industry publications?

Do you have a clean record with BBB or regulatory agencies?

Have you ever faced disciplinary actions?

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🧩 71–80: Operations & Technology

What technology stack do you use?

Can I access data in real time?

How do you monitor performance across your portfolio?

How cleanly can you transition from an existing manager?

Who’s on the ground and accountable for my property?

How large is your portfolio and staff?

What tools do you use for marketing and tracking ROI?

How do you handle tenant complaints or disputes?

What’s your process for handling security deposits?

How do you ensure compliance with local regulations?

⸻

🧠 81–87: Risk Management & Legal

Do you have a process for handling legal disputes?

How do you manage delinquency and collections?

What’s your eviction process and success rate?

Do you have insurance to protect against wrongful evictions or contractor issues?

How do you ensure compliance with fair housing and landlord–tenant laws?

What’s your process for handling tenant complaints or disputes?

What happens if I want to terminate the agreement early?

⸻

✅ Additional Resources

BiggerPockets: 78 questions across 7 categories 2

Mynd Management: 30 key vetting questions 3

Norada Real Estate: 83 questions with ideal benchmarks 4

Rental Income Advisors: 58-question vetting checklist 5

ODC Fund: Deep due-diligence checklist 6

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🧭 How to Use This List

Customize: Pick the questions most relevant to your property type, location, and investment strategy.

Prioritize: Focus on areas that matter most to you—fees, communication, maintenance, legal compliance, etc.

Compare: Use the same core questions with multiple candidates to evaluate consistency and transparency.

Document: Take notes during interviews and request written responses or sample reports.

This list gives you a robust foundation to thoroughly vet property managers and ensure they align with your goals. Let me know if you'd like help prioritizing or tailoring questions for your specific situation!

Charlotte Goodman · Answer

78 Questions to Ask a Property Manager (Before Hiring) https://share.google/xMNLUnCegsYsDiX09.

found it.

Charlotte Goodman · Answer

Not helpful.

87 Questions For A Potential PM?

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