If you were contemplating making a long-term investment as compared to a short-term investment in real estate, consider looking for SCK Property Dublin. The management of such investments should be entrusted to professionals having the commitment and dedication towards the industry. They should know how to deal with complicated situations that have been ignored by inexperienced property owners.
Property owners should have adequate knowledge about choosing and interviewing the property management company specializing in the kind of investment looking forward to managing.
If you were unsure, about what you to inquire from your potential property manager before signing a long-term agreement with them, find below a few questions to help you find a suitable property manager.
- What type of property management experience do they have?
You should know about the time they have spent managing a property or several kinds of properties. You should also inquire if they have an adequate backup from their group.
- How many properties have they been managing presently?
Hiring a property manager handling several units would be risky, as your specific property would be lost in their ocean of manageable properties.
- How often would they inspect vacant and occupied units?
It would be in your best interest to gather knowledge about the period of inspections done by the property manager in occupied and vacant units. It is imperative to gather such knowledge, as you need assurance of assessment of potential damage to the occupied units caused by the tenants. Vacant units require regular inspections to curb the risk of fire and other damages.
- What would they do with the gathered information from unit inspections?
It would be an important aspect to inquire about, as the information ensures about the policies designed by the property management company to handle the payment of damages to units caused by tenants or their guests. The lack of an aggressive plan on the inspection made on the units would not be of any use to you.
- How the companies handle preventative maintenance?
Expensive and extensive deterioration could occur to various properties if there were no preventative maintenance plan designed to handle the issue. Therefore, it would be imperative for your potential property manager to maintain a preventative maintenance log revealing all inspected items along with the signature of the maintenance supervisor acknowledging the completion of the needed tasks.
- How would they handle routine maintenance?
You would require adequate knowledge about the number of dedicated maintenance technicians assigned to your property. It would also be vital to gather information about how engaged would your potential maintenance supervisor be with the property. He should be competent to address all maintenance issues.
- How competent are they to handle after-hours maintenance needs?
The property manager should explain their process for handling after-hour emergencies inclusive of fire, water leaks, or other casualties. Inquire whether the tenants would have access to after-hour phone numbers.
- Do they have a specific tenant selection plan?
You should know if the property manager has a tenant selection plan that could be personalized for your specific property needs. The tenant selection plan would assist in defining the needs that potential tenants would have to fulfill before renting a unit to them. Your potential property manager should be conversant with the terms used along with the ones to avoid when advertising your vacant units and interviewing applicants.
- How transparent are they in their dealings?
Your potential property manager should define the types and frequency of reports and make them available to you.
- How conversant are they with property market analysis?
They should have the knowledge to shop comparable properties to update average rent rates, local occupancy rates, specials, amenities offered, and more.
Rest assured not all property managers would provide such services. Therefore, choose the one suitable to meet your specific needs.