Every management company sounds identical in a sales call. These ten questions get past the pitch.
The quick answer
Before hiring, ask for the all-in annual cost, whether maintenance is marked up, whether fees are charged on collected or scheduled rent, properties per manager, your named contact, average days-to-lease, emergency process, a sample statement, how funds are held, and what leaving costs. Written answers beat verbal ones.
The money questions
- 1. What is my all-in annual cost? Management, leasing, renewal, inspections, technology, everything on one line.
- 2. Do you mark up maintenance? The honest answer is documented, not verbal.
- 3. Do you charge on collected rent or scheduled rent? A manager paid on scheduled rent gets paid whether or not you do.
- 4. What does leaving cost? Confident operators do not need exit penalties.
The operations questions
- 5. How many properties per manager? This number predicts your service level.
- 6. Who is my point of contact, by name?
- 7. What is your average days-to-lease?
- 8. How do you handle a 2am emergency?
The trust questions
- 9. Can I see a sample owner statement? If you cannot read it, that is the point.
- 10. How is my deposit and rent money held? The answer must include a North Carolina trust account.
Common questions
What is the most important question to ask?
Whether the company marks up maintenance, in writing. It is the clearest single signal of how the company makes money and how it will treat your invoices for years.
What is a red flag in the answers?
Vagueness. A company that cannot state its all-in cost, name your future manager, or produce a sample statement on request is showing you its operating style before you sign.
Should the management agreement have an exit penalty?
Confident operators do not need one. Look for a termination clause with reasonable notice, 30 to 60 days, and no punitive fee for leaving.
Fair warning
Ask us all ten. Most of our answers are already on this site, including every fee, which tells you something in itself.