Tuesday, November 9, 2010

What an owner should ask a propety mgmt company

  • An owner should also ask the property management company about the employees of the company.  Did the company do a background check of the leasing agents?  The leasing agent will have important information at their fingertips (social security numbers, banking information, access to the premises, etc).  What type of experience does the agent have, not only in this field but also work related history?  What type of education does the leasing agent have, any certifications for the job other then a real estate license?
  • What is the procedure for collecting rent? Late notices, late fees, who receives the late fees? If this escalates what are the procedures for mediations, or evictions, what are the costs involved, do I have to appear in court or be represented by the mgmt company or their lawyer.   In this economy even the best tenants can have an issue with missed rent. 

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