Whether you're a new property management company or a seasoned one, owners have hard questions for you. If you can answer them well, they'll be more likely to turn to you as their management company of choice. Here are top questions all property managers should be prepared to answer.
How Do You Handle Emergencies?
One of the biggest sources of stress for property owners is the ongoing responsibility of dealing with urgent phone calls around the clock. The furnace is out, or the hot water heater has burst. Whatever the reason, owners need to know that you have a plan in place for managing these emergencies. According to Smart Property Investment, "...a good property manager will have the experience, contacts and organisational skills to sort out any issues quickly and cost-effectively, and will be able to draw on their own list of trusted, reputable and suitably qualified and insured tradespeople." You need to be able to show owners that you have a call center or other emergency line, trades ready to coordinate repairs and that you have a history of strong maintenance that will help avoid large problems in the first place.
How Will I Know My Account Balance?
Property owners want to know how you collect and track your payments from tenants and your invoices from those who work on the property. A clearly outlined process for rental payments and other property-related fees makes your owners feel secure. You can show them your tenant portals, which allow you to collect rent online, leading to prompt and well-documented rental payments. Even more importantly, owner portals allow them to view their accounts and easily access important information.
What Does Your Property Maintenance Look Like?
Property owners want to know that you'll protect their investment like it was your own. Reassure them by showing them your property maintenance schedule. Rental property software gives you the ability to organize this schedule online and answer owners in a knowledgeable way when they ask you questions regarding maintenance.
How Often Do You Inspect Properties?
Propertyy owners want to know that you have a plan in place for property inspections during key times such as move-in, move-out. Mobile property inspection software allows you to document your inspections, giving property owners a thorough view of how their properties are doing over time.
What Are the Rules?
Owners want to know what rules the property management company has in place for tenants, as well as the consequences for not following the rules. They may ask about typical concerns, such as the management company's views on allowing pets. Owners may also ask about the company's response time when rules are broken or complaints come in from neighbors.
When owners turn to a property management company, they're looking for stress free property management. Give them the experience they're looking for with Propertyware. You'll be able to easily create processes and online systems to manage many of the common problems encountered in your property management business. Sign up for a free trial today.