Suppose you’re a property owner in Tampa, Florida, or you plan to invest in rental properties in the area. In that case, you may be familiar with the challenges of owning a property. However, if you need assistance managing your property, hiring a professional property management company can make your life easier and help your property prosper. A good property manager will handle tenant screening, lease signing, rent collection, property maintenance, and other essential tasks. In addition, hiring a property manager allows you to focus on growing your real estate portfolio or pursuing other interests while your property is in the hands of an expert.
However, not all Tampa property management companies are created equal, and asking the right questions is essential before hiring one. Here are some of the best questions to ask a Tampa property manager before entrusting them with your investment properties:
1. What property management services do you offer?
Different Tampa property management companies offer various services, and knowing exactly what services you will receive is important. For example, some companies only handle basic tasks like rent collection and maintenance. Others offer more comprehensive services like tenant screening, lease signing, eviction handling, and legal compliance.
It is crucial to clearly understand the company’s services and what their management fee includes. At The Listing Real Estate Management, our services include rental property marketing, tenant screening, an efficient rent collection system, property inspections and maintenance, and rental property accounting.
2. What is your experience in managing properties in the Tampa area?
Experience is a critical factor in choosing a property management company. You should be working with a company with a proven track record of success in managing similar properties.
Ask about their experience managing properties in your area, their success rate in finding and keeping quality tenants, and their expertise in handling legal issues and disputes. Make sure they are passionate about the area because they should also be passionate about your property.
At The Listing, we are experienced professionals with 15+ years in real estate, over 300 5-star reviews, and provide best-in-class service guaranteed.
3. How do you screen tenants in Tampa, Florida?
Tenant screening is one of the most important tasks of a property manager. Tenant screening can help ensure that your tenants are reliable and responsible. If you rent your house to an unreliable tenant, you may experience conflict and possible late payments. Thorough tenant screening and background checks, your Tampa property manager will find you responsible tenants who will pay their rent on time and take care of your property.
Ask about the company’s tenant screening process, including the background checks they perform, their minimum credit score requirements, and their eviction policy. With strict tenant screening processes, you will surely get a trustworthy tenant.
We know that finding the right tenant leads to long-term rental success. At The Listing, our tenant screening includes:
- Credit history.
- Debt to income ratio.
- Nationwide eviction search.
- Background check.
- Income & employment verification.
- Previous two years rental verification.
It’s not about the fast tenant but the right tenant.
4. What is your Tampa Property Management Fee structure?
Property management companies typically charge a management fee based on a percentage of the monthly rent. However, some companies may also charge additional lease renewals, maintenance, and repairs fees.
Ask about the company’s fee structure and ensure you understand all the costs involved before signing a contract. It is crucial to hire a property manager that gives you complete transparency regarding additional fees; fees should not come as a surprise.
Property managers at The Listing Tampa always provide transparent pricing. We value our rental property owners and uphold transparent Tampa property management pricing.
5. How do you handle maintenance and repairs?
Property maintenance and repairs are essential for maintaining your rental properties, keeping them in good condition, and ensuring tenant satisfaction. Ask the property management company how they handle maintenance and repairs, including their policy on emergency repairs and how they handle requests from tenants.
We protect your rental property investment by providing fast and quality maintenance at The Listing. We offer an around-the-clock emergency maintenance line; rest assured your rental property is protected 24/7. Maintenance and repairs are performed by licensed, bonded, and insured local vendors.
6. What is your policy on late rent payments?
Late rent payments can be a significant conflict for landlords, and it’s essential to know how the property management company will handle them if it occurs. Ask about their policy on late rent payments, including any fees or penalties that may be charged, and how they handle evictions for non-payment of rent. This information is crucial, considering your money and profit are being dealt with.
7. How do you communicate with landlords and tenants?
Communication is critical in any business relationship, especially property management. Knowing how the property management company communicates with landlords and tenants is important. Ask about their preferred methods of communication, how frequently they will provide updates on your properties, and how they handle tenant complaints and concerns.
Tampa Property Management Summary
Hiring a Tampa property manager can be a smart move for landlords who want to maximize their rental income with the help of an expert. It’s important to ask the right questions and do your research before hiring and trusting a property management company with your property. By asking these questions and considering the company’s answers, you can make an informed decision and choose a property management company that meets your needs and exceeds your expectations.
The Listing Real Estate Management is a full-service property management company in Tampa, Florida, specializing in managing single-family homes, townhomes, condos, and multifamily properties. Our residential property managers have extensive experience in Tampa property management. We provide best-in-class management services that positively affect you and your rental investment.
Owning a rental property in Tampa should be an enjoyable and profitable experience. Our boutique Tampa property management company has helped hundreds of owners and investors maximize their rental investments. At The Listing Real Estate Management, we pride ourselves on our expertise and the amazing services we offer. Contact us to take the first step towards maximizing your profits and making your rental home investment a successful one!