Hiring the best property management company in Maryland can be tough but by doing research and asking the right questions you can find the right company. There are so many important things that need to be taken into consideration for hiring the best property manager. But before taking the final decision here are some important questions that you should ask to the prospective property managers to know whether it’s the right company for managing your investment property or not. Below are some of the important questions that you must ask to the property manager:
Services and Fees
They will provide you their services and will charge for the services. Basically a management company charges management fee. So, you should ask:
What type of fees do you charge?
Ask how much they will charge as their fees, mostly companies charges approx. 8-10% of the gross monthly income.
You must do your homework for this that for what a property management company can charge. There are many services that are included in the fees but there are some other services for which they charge additional fees. So, ask them about the services that will be included in their fees and other additional charges.
Funds or Security Deposits
When you hire a property manager then you are obligated to do some works that are your responsibility as the landlord. You will provide fund for the maintenance and repairs to the property manager. So, ask them how they will use the funds and how they will keep the find that will be collected from tenants as security deposit. Ask them how much amount you have to give as reserve fund and also the security deposit amount.
You want them to keep your property maintained after all these what you are paying them for. So, ask them how they will manage your property. Do they have crew members who cans fix repairs or keep the property maintained? Do they inspect property? If yes, how often they do that?
These are the questions that you must ask to the prospective property manager to decide whether to hire them or not. If you find them the best for your rental property then you should go with such company. Do not forget to check their license and also read the terms and conditions carefully written on the agreement. This will help you to hire Maryland best property management company or anywhere in USA.