1. Why do I need a property manager?
If you own property that you want to rent, you should always consider using a property management company or property manager. These professionals specialize in managing properties and handling tenants, including collecting rent, dealing with clients and leases, and so much more. It’s a great way to be a landlord with a hands-off approach. Property managers will deal with tenants, renting your property, collecting rent and any deposits, maintenance and repairs, and total property management for your unit, whether you’ve got one or 100 properties that need to be managed. You can get back to being a property investor and let someone else handle the details.
2. How do you find tenants for my property?
When you are thinking about client FAQs, this is a big one. People want to know how you’ll find renters because they want to ensure that you are getting quality tenants from good sources. They want reassurance here—reassurance that you’ll get their property rented quickly and reliably, and with any luck, with a tenant that suits their desires. Use this space to explain the process and advise all that you do to fill vacancies and consider offering an estimate of about how long it usually takes you to find, screen, and place tenants.
3. What is your screening process like for tenants?
This is a question that is good to answer because it applies to both property owners and renters alike. Explain how you screen tenants for rentals, including whether you do background checks, credit checks, or any other special screenings. You may even offer these on an as-requested basis, so be sure to put that here. Some property owners will want more rigorous screening than others.
4. How much involvement do property owners have?
This is an important question for multiple reasons. First, it gives you a place to outline your process and explain to people how it works when they choose your property management company. Secondly, it allows you to offer the opportunity for your owners to tell you how involved they’d like to be, if at all. If you do totally hands-off management for owners where you just send them the rents and the bills, make a point of selling that to those who likely have busy lives full of other things that require their attention.
5. What are your property management company’s fees like?
This is always a big question and it’s one that no one likes to answer. What’s the deal with being afraid to talk money? Everyone knows that these services aren’t free. Telling people about your fees for managing properties upfront ensures that they know what they’re getting and that there will be no surprises. It also gives you the chance to be transparent with them and deliver a better experience, which is often more important than the information itself. Explain what fees you charge, how they’re charged, and whether the fees are charged to owners or tenants (such as in the case of a late rent payment). Don’t charge too much for your management services, but don’t just give them away, either. And no matter what you charge, explain to people how much and why. That will clear up a lot of confusion and improve your credibility significantly.
6. Who does repairs on my property?
This is another big question for property owners. They typically don’t want to be the one taking the 3 A.M. calls that the furnace is broken when there’s a foot of snow on the ground. That’s why they chose to go with a property manager in the first place. Explain how you handle maintenance and repairs on the properties that you manage, including whether you have your own staff or if you outsource to professional repair services, and so forth. If you have a process for checking with owners to sign off on repairs in advance, or allotting a repair budget, for example, make sure to explain that here, as well.
7. What types of properties do you manage?
This is important for your owners and is a common question when they’re seeking someone to manage their property or properties. You should use this space to list all of the types of rentals that you work with, or if you’ll handle anything, be sure to explain that here. You can even let people know to contact you on a case-by-case basis to discuss what they need because you’re more focused on providing solutions than the exact type of properties that you’re managing, for example.
8. How do you collect rents?
This question can be for owners and tenants alike. People want to know how they get paid, and tenants want to know how flexible their options are for getting you paid on time. Today, especially, a lot of people are looking for online payment options to make it more convenient. If you offer them, provide the information here. If not, list all the ways that you do collect rent for the properties that you manage, as well as how you handle fees and extra charges, deposits, and so forth. Spell it all out for people and you’ll get a much better response.
9. How long will it take to rent my unit?
We know as well as you that there’s no finite timeline on renting properties. However, owners will want reassurance that you’re doing everything in your power to get their property rented as quickly as possible and to the best tenant that you can find. Use this opportunity to explain the screening and placement process and help them understand how long it usually takes you to get things done. Be sure to advise that every case is different, though, so that no one gets upset when things take a little longer. The goal here is transparent information, even if you can’t give them the exact answers they seek.
10. Do you have a waiting list?
This is an important question for in-demand properties and cities around the country. Tenants looking for a place to live might not have time to wait, but some are willing and able. If you run a luxury building or an exclusive high-demand property, offering a waiting list for tenants might be a good way to secure better rental rates. Plus, even offering a waiting list adds a touch of professionalism to your management services and shows property owners that people want to work with you.