Selecting a Property Manager

Selecting a Property Manager who will represent you in the marketing and management of your Vacation Property may be one of the most important decisions of your new investment. This selection process is just as important as selecting any other professional such as your family doctor, dentist or attorney. The person selected should be working for you, always keeping your best interest in mind. He or she will be directly involved in advising and counseling you about a large portion of your personal assets.This person must have your confidence and trust. Before interviewing property managers, you should determine your criteria for choosing that person. I suggest that you evaluate that person on the following categories:

  • Appearance, demeanor and attitude — How comfortable do you feel in working with this person? How comfortable will your tenant feel?
  • How strong is the overall marketing plan and presentation? 
  • How thoroughly has he or she discussed their services and what you should expect from the process?  

Also, I suggest you ask the following questions during the interview process:

  • How willing are you to assist you in decisions? 
  • Commitment -Are you full time ? Where do you live? 
  • How many years of experience do you have? 
  • How many properties do you manage? How many that are like mine
  • Can you provide me with references from current clients? 
  • Do you provide your own security for my vacation property? 
  • How often will you inspect my home? 
  • How will you keep me informed about the property? 
  • How available are you? What are your hours?  
  • Do you provide telephone service for my vacation property?  
  • What kind of traffic does your website get?  
  • Do you have online booking?  
  • What is your Spring Break Policy?  
  • Do you have a maintenance staff?  
  • What is your policy on renter damage?  
  • What is your policy on maintenance billing?  
  • How do I contact you if I have a question or problem?  
  • How do I block my unit for personal use or family and friends?  
  • Do you have a toll-free phone number? E-mail?  
  • Speed of processing rent checks — when will I get my money?  
  • What if I’m not happy with the service I receive? Will you guarantee my satisfaction in writing?  
  • How do you handle repairs? Do you use contractors or your own staff? 
  • What are your management fees? 
  • How do you handle my taxes? 
  • How and where will you do my Laundry? 
  • What is you cleaning policy? 
  • What is the length of your contact?
  • What if I am not happy with your services? 
  • What is your process for making sure that rentals are distributed fairly? 
  • How much of your rental inventory do you personally own? 
  • When is your reservation office open? How many phone lines and stations do you have? 
  • What happens if a renters cancels for my unit after he has been confirmed? 
  • How do I block my unit at 8:00 on Friday to come down the same night?
  • Do you work with Travel Agencies? What is the process for them to make reservations with you?
  • For More information about property management visit http://www.vrma.com/ or http://www.seasidemexico.com/

    Author:
    Steve Schwab,
    CEO Sea Side Reservations

Be Sociable, Share!