QUESTIONS TO ASK WHEN HIRING A RESIDENTIAL PROPERTY MANAGEMENT COMPANY
A good property manager goes a long way! Here are some questions to help you make the right decision in selecting a property manager for your investment property.
What fees do they charge the Owner?
1. Management fee percentage?
2. Cost to find a tenant?
3. Set-up fee?
4. Lease Renewal Fee?
5. Any fees while the property is vacant?
6. Required owner paid reserve fund for repairs?
7. Cost to transfer paperwork and lease to new management company if needed.
What fees do they charge the Tenant?
• Application fee_____, per applicant____
• Admin Fee ____, per applicant ____
• Late fees _____
• Bounced check fees _____
• Eviction fees _____
Leasing and finding a tenant
• Where is the property advertised?
• Is an outside agent paid a commission for finding a tenant? Does the Owner pay for this?
Miscellaneous questions
• How long after the tenant pays rent do they pay the owner
• Can owners have their rents direct deposited into the bank account? Is there a fee for this?
• Do owners pay the actual cost of repairs or does the management company add a charge or fee on top of the repair?
• How many contacts or staff are employed the by the residential management company?
• If owner of a property decides to sell their property does the contract require them to sell, using their selected property management company?
Thinking about renting out your property or making a switch in management companies? Contact our team to ask us the above questions and any others you may have.
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Meet Lori Dunaway
A checklist to prepare your home for the Hawaii rental market.
Reliable and professional long-term rental property management is an important aspect of owning and maintaining rental properties. It is of utmost importance that your property is well-maintained, income and occupancy are maximized, that your tenants are well screened, and that landlord / tenant rules and regulations are strictly adhered to.
CBIP Vacations, LLC
Brokerage License #
RB-22373
