When a property owner is looking at hiring a property manager, it becomes an interview process – after all, you’re about to take on the care and maintenance of what may be their biggest asset. When they hire you, it’s not simply a question of how experienced you are, or whether your personality meshes with theirs. There are unique criteria that most owners will consider to determine if you’re right for the job. In many cases, whether they choose to hire you will depend upon whether or not your way of operating is in line with their expectations.
So, there are a number of questions that you can expect to be asked, and you should be prepared to answer them openly.
What is your fee?
Most property owners are more focused on bringing in profit from their investment than anything else. Have your price in mind, and answer directly when they ask. Trying to avoid the question while continuing to market yourself will only waste your time and theirs if your fee is not in line with what an owner is able to pay.
How will we communicate?
Some owners are hands-off, while others will contact you for updates all the time. Either way, owners like to know that they are able to reach you one way or another. It’s a good time to set those standards. For example, if you are most available by email, let them know that.
What kind of reports can I expect?
If you’re using AppFolio Property Manager, you can offer your owners access to many types of monthly reports. Let them know that your owners are given access to the Owner Portal of your property management software where you will post your monthly owner statements and reports (such as the Cash Flow Report, Work order reports, etc).
How are repairs completed?
Owners want to know who will take care of their property. Are you an independent property manager that happens to be a jack-of-all-trades, and you’ll take care of it yourself? Do you have your own maintenance team? Do you outsource the work depending on the type of maintenance required? These are all things you need to have answers to.
How do you advertise?
Owners need to know that their properties are getting exposure! Go over your preferred methods and see how they respond. You also don’t need to hesitate to mention the success you’ve had with new-media options and how you use software that streamlines the process so you’ll have time to increase their property exposure even more!