Questionnaire for property manager

[phan]

I’m going to phone REs around my IP’s area before let the most suitable PM looks after my property. It’s my first attempt so I thought a questionnaire will make comparing task easier as I only need tick for some “multiple choices” and quickly note down for the others.
The following attachment is some of the questions (and expected answers) which I think need to be asked. What do you think about this? any unnecessary questions I need to pull out or missing points need to add in? Thanks.

 

[Pablo]

Phan,

good list here are a few other Q's I would add to your list.

-Do you charge phone calls/ postage etc. on top of your normal fees?

-What is the ratio of properties to PM's?

-Does your agency pay the bills on my behalf?

-What practises do you have in place to reduce vacancies?

-How do you advertise for tenants?

-What is the average length of vacancy per year for the properties you manage as a whole?

-Can I have the address's of some of the properties you manage so I can drive by them?

-Can I have the contact details of some of your property owners so I can see if they are happy with your services?


I have also seen another list at some stage, I will try to track it down and see if there is anything that has been missed.

Pablo.

 

[Pablo]

OK, I found the list and here are some more ideas for Q's.

-What notice has to be given before ending contract with PM and can this be reduced?

-Ask PM about area, Vacancy rates, rents, etc. to get an idea on how well they know the area.

-Ask for a sample condition report and ensure they either invite you to the inspections or supply photos.

-Ask for a rent appraisal and compare it to other PM's.

-Ask what clauses they include in the leases.

 

[phan]

Hi Pablo, thank you for your inputs, I updated my questionnair and make a few calls today,I haven't found the PM I want yet but the list really helps to get needed info

 

[cgw]

May be add in as well

How do you conduct your Referee checks, in particular for employment.
They should contact the HR Dept, or owner. If it is a small business I would be asking to see the ABN no, white/yellow pages no, web site.

At the moment I have my PM going through the Refs on one of my tennants who have turned bad, as I don't think the Ref checks were done properly.

 

[phan]

after made few more calls to agencies I noticed that beside the usual management way which is the PM will take care of everything and you will contact only she/he for any problem, there's another type which is 2-3 PMs will manage the same portfolios and each of PM taking care of 1 aspect. It means I will contact ms.A for collecting rent, mr.B for maintance issues and mrs.C for the rest of problems.
Is anyone here having this type of management for their property? How is it comparing to the traditional way?

 

[Rixter]

Also ask them do they provide the contact details of existing landlords for you to ask them how they find their PM ?

Nothing better than a testamonial across a number of clients who would know best!

Proves openness & accountability of the PM.