Property Management Tips & Advice Blog | All Property Management

The Ultimate 30-Question Property Management Questionnaire

| 2 min. read

Hiring a property manager is no simple feat. After all, you are about to make a huge financial decision. It’s not a process to skate through or take lightly. 

Property managers offer a wide range of services. It can be difficult to know whether you’ve found the right management company to partner with. 

The good news is, you don’t have to face this intimidating process alone. Because of this, we’ve created the ultimate property management questionnaire to help you find the right property management company for your needs. 

At the end of the post, we’ve included a downloadable spreadsheet to help you organize your answers for each property manager you’re looking at and compare them side by side.

The Basics 

These questions will give you a baseline comparison of the property managers you’re looking at. As basic as these questions may seem, they will help you eliminate companies that aren’t the right fit right off the bat. 

For example, if you own single-family homes and a particular property manager only manages HOAs, you can cross them off the list right away, and save yourself some time.

  1. Company/Manager name?
  2. Phone number & email?
  3. How many people work for you? 
  4. How many properties do you manage? 
  5. How long have you been in business? 
  6. What hours are you available? 
  7. How long does it take to fill a vacancy? 

Getting to Know You

The goal is to work with a property manager on a long-term basis. By getting to know your prospective property manager a little deeper, you’ll be able to tell if they’re in it for the long haul or looking to switch jobs in the next couple of years. You don’t necessarily want to be passed from property manager to property manager within a company and have to rebuild a personal relationship every few months.

  1. What do you like about being a property manager? 
  2. Do you sell real estate? 
  3. What elements make income properties profitable?

The Nitty-Gritty 

Now it’s time to get down to the details. How much is this going to cost? It’s important to dig deep to uncover all possible fees a property manager might charge you. To get a detailed picture of what you’ll pay, ask the following questions:

  1. What is your monthly rate?
  2. Do you have a setup fee? 
  3. What are your fees for placing tenants? 
  4. Do you charge for evictions? 
  5. What is your cancellation fee? 
  6. Will I be able to approve expenses? 
  7. Do you upcharge on maintenance expenses? 
  8. Do you send out financial statements? 
  9. How much rent can I get for my property? 
  10. Are there any other fees?

Who Else Is There? 

Working with a property management firm isn’t just a one-person partnership. They’ll hire out jobs and bring other people onto your property from time to time. It’s best to find out beforehand who those people will be. 

  1. Do you have your own maintenance team? 
  2. Do you use licensed and bonded contractors? 
  3. Do you perform property inspections? 

What’s Your Approach To Services?

You might not need to make use of all the services a property manager offers, or you might find yourself wanting services beyond those covered by a standard rate. That’s why it’s important to understand how the PM you choose approaches services, how flexible they are if your needs change, and how they delegate responsibility.

  1. Do you offer service packages and what’s included in them?
  2. Do you offer additional services á la carte?
  3. What do you charge for each service package and a la carte service?
  4. What kind of work do you bring in third-party contractors for?

What Sets You Apart? 

Finally, find out what makes each property manager tick. What makes them different? With these final questions, you should get a clear idea of who will work best for you long-term. 

  1. What makes you different from your competitors? 
  2. Do you offer a discount for multiple properties? 
  3. Do you offer referral bonuses or incentives?

Download the questionnaire in a printable form here to have handy when conducting your next interview. 

We recommend a phone interview with a minimum of three property managers. Please feel free to contact us if you need additional companies to interview or help with finding the right property management company for you.

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