15 Questions That an Investor Should Ask While Interviewing a Property Manager

  • 1. Ask the property manager if they own rentals as well?
    Make sure that your management company has an investor’s mindset. It is certainly important to foster good tenant relations, but it is imperative to remain vigilant of the bottom line. EXIT Realty N.F.I.’s broker, property manager and department manager all own investment properties.
  • 2. What professional affiliations do you belong to?
    All Realtors are real estate agents, but not all real estate agents are Realtors. EXIT Realty N.F.I. belongs to Pensacola Association of Realtors as well as the Florida and National Associations.
  • 3. What type of property do you specialize in?
    Some companies specialize in single-family homes and other companies specialize in large complexes. Pick a property manager that specializes in your type of rental.
  • 4.
    How long have you been in business?
    In this business experience is important. We have operated in this area since 1984. Our Property Manager and Department Manager each have over 20 years of experience in property management in the Greater Pensacola area.
  • 5. References.
    Request a list of two or three current clients who you can contact about their property management.
  • 6. How many people are in your company/office and what are there duties?
    Generally a professional property management company will have 1 full time person for every 75 to 100 doors (properties managed).
  • 7. How many properties do you currently manage?
  • 8. What areas (if any) are you limited to?
    EXIT Realty N.F.I. manages properties in all of Escambia and Santa Rosa Counties and in the western portion of Okaloosa County. We manage properties we can see.
  • 9. What is your advertising and tenant lead generation procedure? Who pays for advertising? Do you have a website where tenants can apply on-line?
    EXIT Realty N.F.I. has a monthly advertising budget that would be daunting to the single homeowner and we have resources that are not available to the individual. Our ads appear not only in the Pensacola MLS and on this website but also on Yahoo, Trulia, Hotpads, Oodle.com and Craigslist to name just a few. Prospective tenants can “see” our houses from across the country and apply online at their convenience. Our owners pay nothing extra for this barrage of advertising.
  • 10.
    How effective is your advertising? Do properties get rented? What is your vacancy rate?
    EXIT Realty N.F.I. has maintained a remarkably low vacancy rate of less than 5%. As of this writing that percentage is less than 2%. If an owner takes our advice concerning presentation and pricing to market their property we will almost always have it rented in 2 weeks.
  • 11. What is your tenant screening procedure?
    EXIT Realty N.F.I. includes Credit scoring and history, criminal background, sexual predator registry, Eviction and Court Records, Homeland Security check, Landlord references, social security ID check, and employment verification. In the world today these all should be included.
  • 12. What is your maintenance and repair policy? How does the tenant request maintenance and what can they and you expect when that request is made?
    Our tenants can request maintenance in writing by email, fax, regular mail, hand delivery or through the Maintenance portal on our website. Requests are triaged and work orders are generated by the property manager and responses are made by a variety of trusted local vendors that have good records and whose license and insurance documents are on file with EXIT Realty N.F.I.
  • 13. What kind of software do you use?
    Generally speaking, property management software will help organize and develop systems for the property manager, which will improve performance. QuickBooks is not a good solution. EXIT Realty N.F.I. uses Appfolio Property Manager software in conjunction with our website. The two work hand in hand to deliver a transparent web-based accounting to our owners.
  • 14. What does the typical owner statement look like?
    An owners monthly statement should be easy to read, simply formatted and intuitive to understand. A sample Monthly Owner’s Statement is available when you call to inquire.
  • 15. Can I see the agreement I would have to sign?
    Of course. EXIT Realty N.F.I. Property Management Agreement is available to you to read through when you call to inquire with no obligation on your part.