If you choose to work with a property manager or larger property management company, it can make or break your experience. Whether you’re a first-time host or a veteran, choosing the right company is essential. There’s more to finding the right match than reading reviews and Googling companies. When you find a team that might be the one, you need to be prepared to know the right questions to ask a property management company to ensure they’re the right fit for your business. This post explores the best questions to ask so you don’t leave anything on the table unanswered.
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Do you really need a property manager?
Whether or not you choose to work with a property management company is a personal decision. However, the tasks of day-to-day management can quickly become overwhelming. That’s where property managers step in. Property managers can handle everything from guest communication to managing your listing. Of course, no two companies are the same. That’s why it’s important to ask good questions to property management companies to ensure they’re the best fit for your needs and goals.
12 Questions to Ask a Property Manager
Now, it’s time to ask the Big Questions.
1. What are the specific services you offer?
This is the basis of the question, isn’t it? Different management companies offer different things. Some do full-service everything. From guest communications to cleaner management and all of your repairs. Others only handle very specific tasks, like just cleaning, just calendar management, just guest communications, etc. You need to be very clear on what you’re looking for so there’s never a question of who is responsible or what.
2. How do you handle pricing?
Property managers can handle the day-to-day pricing of your rental. This means they can make adjustments during a busy weekend that could earn you more income, and adjust with some discounts when things are looking slow. Ask them how they decide to make changes. Do they use dynamic pricing software? Where do they get their market info from? You never want to leave pricing to chance. Priced too high and you get scared customers away; priced too low and you could leave money on the table.
3. How much do you charge?
You need to know exactly how their fees work from the get-go. Some firms do flat monthly fees, while others will take a certain percentage of your income per booking. Directly ask about any additional setup costs or one-time charges that could occur.
4. How do you handle guest communication?
The property manager is the face of the guest experience. Ask them how they handle guest questions, bookings, check-ins, check-outs, guest verification, etc. Find out if they’re familiar with automating these processes with Host Tools. The more one can automate guest communication, the less room for human error.
5. How will you market my home?
Your property must grab potential guests’ attention to stand out in a crowded marketplace. Ask about their marketing strategies, including how they optimize descriptions, photos, and promotions on Airbnb or other platforms. Some property management firms also list your property on multiple channels such as Vrbo, Booking.com, or Airbnb for greater visibility.
6. How do you keep my property in good shape?
You’re playing the long game with your short-term rental. A property manager needs to care and invest in its longevity just as much as you do. Find out how they’ll handle everything from basic wear and tear to genuine damages. Find out their processes for maintenance, emergency repairs, managing your inventory, and more. Ask if they have established relationships with local vendors.
7. What’s your experience specifically managing short-term rentals?
Managing short-term rentals and traditional long-term rentals look very, very different. If it’s a firm that does both, ask them to dive into their experience with short-term rentals and how they approach that differently than long-term. You want to make sure that your management company truly understands the nuances that this unique industry demands of hosts.
8. How do you keep me updated?
Like any relationship, communication is key. Ask these prospective partners how they communicate. Ask them how often they report back on occupancy rates, your revenue, feedback from guests, and more. Find out how they communicate best as well: email, text, or phone call? How often will you hear from them? Everyone needs to be on the same page with communication from day one.
9. Can you share some real-client reviews?
Like guest reviews, client reviews are the real insight into a company. Ask to see real-life reviews from existing customers. If possible, see if you can get a referral to speak with hosts who have actually used them. Of course, it doesn’t hurt to check out online platforms like Yelp, Google, and Trustpilot.
10. How do you handle after-hours emergencies?
This is a big one. What happens if a guest is locked out? Or, what if there’s a big pipe leak? These are the types of situations that absolutely cannot wait until the morning. Ask how they handle these specific types of situations, how long it takes them to respond, and what exactly their response would be. You need to know they have a process in place for these one-off emergencies that unfortunately will occasionally happen. How your property management team responds will directly impact the review your guest leaves you. Guests don’t differentiate in their reviews between you and the property manager. All that matters is that any issues were resolved quickly and well.
11. Are there any unique requirements about working with you we should be aware of?
Each individual firm has its own policies nd regulations. Some may require a minimum number of properties, while others may only work in specific neighborhoods. These are the nitty-gritty logistical questions you need to dig into to ensure you’re the right fit.
12. What truly makes you different from the competition?
This question can really help you hone in on what makes them special. For example, do they specialize in glamping? What about luxury properties? They work with properties with pools; perhaps they’ve been local to the area for decades. These are the little questions that help you see what makes them special (or not).
Final thoughts
Working with a property management team can be great…if it’s the right one. By asking these questions, you can weed out the misfits from day one. Pay attention to their answers and think critically about your needs. With careful thought and consideration, you’ll find the right fit in no time. Of course, we always suggest using Host Tools to simplify your specific day-to-day hosting needs.
Host Tools provides an automated, unified calendar for short-term rental hosts, allowing you to seamlessly list on all major channels. Start your free trial today!
