Questions to Ask a Property Management Company

When you work with a property management company, you should know who they are and what services they offer. Here's what to ask property managers about their business:

• How many properties do you manage? You should know how many properties the company operates to see how well they can keep up with the competitive industry's high demands. At American Heritage Property Management, we have 3,100 units under management. We also have eight offices to help offset the load of dealing with all those tenants and landlords.

• Do you handle short-term or long-term rentals? A responsible, caring company can successfully manage both short-term and long-term rentals. A long-term property involves staying in an apartment complex or single-family home for several months or years. On the other hand, a short-term property is usually a vacation home or apartment where tenants spend a few weeks at most. At AHPM, we manage both long-term and short-term properties.

• How long have you been in business? A property management company that has been successful for several decades can provide the resources and expertise you need to help maintain your investment. Since American Heritage Property Management has been in business for over 35 years, we've established a positive reputation throughout Central Pennsylvania and Baltimore.

• Who is my point of contact within the company? Find out who works for the company and who to contact if you need assistance. We have eight offices throughout Pennsylvania and Baltimore, with personnel who are available 24/7. Each location has a designated property manager to answer any questions.

• What services do you offer to your clients? This question ensures the property management company is reliable and can help you with all your property's needs. At AHPM, we offer maintenance, rent collection, tenant screening, marketing, lease preparation, accounting and eviction process services to help you care for your property. You could sign up for any or all of our services, depending on your business needs.

• Do you offer real estate services? Our team at Homesale Realty features thousands of real estate experts who can help potential tenants find your property and help you market your property to appeal to your ideal audience.

• What will be my level of involvement as an owner? The property manager is the go-between entity for the landlord and tenant, and this relationship works best when you, the property manager, have a majority of the control. For example, when AHPM first takes control of your property, we will complete a thorough walk-through of every building to determine what needs replacing or updating and give you the final say as to which updates we undertake and when we complete them.

• How many staff members do you have? The size of the property management company can give you an idea of how many members they likely have on staff and if they have enough to meet your needs. At AHPM, we have 17 property managers, which allows us to have plenty of staff available to meet your needs.

A property manager should know how to screen for tenants to ensure reliable people live in your residential building. Here are some questions to ask the property management company about their tenant screening process:

• Do you run background checks on tenant applicants? Running a background check on prospective tenants allows you to get an idea of who's applying to live on your property. At AHPM, we offer tenant screening and selection services, taking care of running background checks to maintain your respectable community and protect your investment.

• What do your background check requirements for applicants involve? You and the property manager should be on the same page regarding the income requirements for the tenants renting your property. As part of our tenant screening and selection services, we conduct an extensive screening process, looking for employment verification, credit, eviction history, criminal history and references from prior landlords. We can collaborate to ensure the approved applicants comply with your property's standards.

As an investor in residential property, you should find a property management company that helps you keep track of your income and expenses. Ask property management the following financial questions:

• Are your fees a flat rate or a percentage taken from rent? Since you'll be getting help from the property management company, you can expect to pay a fee of some sort. At AHPM, we calculate our rates based on a percentage of your rental income across all your properties. This system allows you to pay us only when you make money and gives you a precise amount to plan in your budget.

• Who manages our expenses and funds? The property management company should help you with your budget. If you choose to invest in our accounting services, we can handle all your payments to keep your account updated.

• How do tenants pay rent? You should probably find out how your tenants will pay rent so that you'll know how you get paid. At AHPM, we feature a convenient online portal for tenants to pay rent. If you're having issues receiving rent from some tenants, we also offer rent collection assistance services to ensure you receive your money on time.

• How do you determine the rent amount? An experienced property manager will know how to find the highest possible rent amount for a property by considering factors such as comparable listings, local amenities and the property's value.



• Are there any fees for ending a contract early? Before signing any contract, take time to fully understand the terms listed and write down any questions to ask a property manager. If your needs change before the contract ends, you want to ensure the property management company can help you find a solution.

Maintaining and inspecting your property is necessary to keep it in excellent condition. Here are some questions you can ask property management about how they handle repairs and routine inspections:

• What do you do when a tenant requests repairs? A property management company should have the resources to maintain your property and respond to requests promptly. At AHPM, we offer 24/7 maintenance services to repair your property as soon as tenants report them. We do our best to fix the problem so they won't have the same issue soon. During our maintenance services, we also strive to save money.

• Do you conduct property inspections? The manager can inspect your property to determine necessary repairs or adjustments. Our professionals at AHPM hold regular property inspections to ensure residents comply with the codes you've enforced.

• How long will it take to make my property rent-ready? When a property manager takes on your property, one of the first things they will do is evaluate your property and make any necessary updates and repairs. Typically, this process takes seven to 10 days at AHPM. However, factors like older homes may require more updates, which can extend the process.
  

As a property owner, you need a plan for dealing with tenants who break their lease or refuse to follow regulations. Here are some questions you can ask your potential property manager about how they deal with evictions and vacant units:

• Do you offer eviction services? If you're uncomfortable dealing with tenants who haven't paid their rent or who have taken part in illegal activity, a property management company should be able to handle the situation. At AHPM, we offer tenant eviction services that comply with local guidelines. If one of your residents breaches the lease agreement, we have methods for how to proceed with removing the tenants from your property.

• How long are your properties typically vacant? A reliable property management company strives to keep your property as close to capacity as possible to maintain your revenue. American Heritage Property Management has a 1.93% vacancy rate, 50% lower than the national average.



• What is your timeline for evictions? This is one of the top questions to ask when hiring a property manager, as you want to ensure they strictly adhere to the lease terms. For example, the property management company should immediately start the eviction process if a serious violation occurs.
  

If you own an apartment building or home in Central Pennsylvania or Baltimore, we're here to help you manage your funds and maintain your investment.



For more information about our services or to ask any other questions, feel free to contact us online or call 877-931-7368.