How to Find a Great Property Manager (And What to Ask Before You Hire)
How to Find a Great Property Manager (And What to Ask Before You Hire)
If you own a rental property — especially out of state — your property manager is the most important person in your investment. A great one keeps your property occupied with good tenants, handles problems before they become expensive, and gives you monthly reports you can actually understand. A bad one does the opposite, and by the time you figure it out, it’s already cost you thousands.
Here’s how to find a good property manager and what to ask before you commit.
Where to Start Your Search
Ask other investors in the market for referrals. Investor Facebook groups, BiggerPockets forums, and local real estate investment associations are good sources. Referrals from investors who’ve used a manager for years are more valuable than any marketing material.
If you don’t have a network in the market yet, NARPM (National Association of Residential Property Managers) maintains a directory of member companies. Membership doesn’t guarantee quality, but it indicates professional standards.
Questions to Ask Every Property Manager
How many units do you currently manage? A company managing 50 units gives you more attention than one managing 2,000. Scale isn’t bad, but you want to know what you’re getting.
What is your current vacancy rate? Good managers know this number immediately. High vacancy rates are a red flag.
How do you screen tenants? Ask specifically: credit check, background check, income verification (look for 3x rent), rental history. Tenant quality is everything — a bad tenant in a good property is worse than a good tenant in a mediocre one.
How do you handle maintenance requests? What’s your response time for non-emergency requests? How do you handle emergencies? Do you have in-house maintenance or contractors?
What is your fee structure? Management fees typically run 8–12% of collected rent. Watch for additional fees: leasing fees (placing a new tenant), renewal fees, maintenance markups, and inspection fees.
How do you communicate with owners? Monthly statements? A portal? Email? How quickly do they respond to owner questions?
Red Flags to Watch For
Slow responses during the vetting process. If they take three days to respond to your inquiry, that’s how they’ll manage your property. Vague answers about vacancy rates or tenant screening. Reluctance to provide references from current owner clients.
The Bottom Line
Interviewing property managers is worth the time investment. A good one makes remote ownership easy and profitable. A bad one turns a passive investment into a second job.
At Equity on Repeat, we’ve vetted property managers in every market we work in. Book a call — we’re happy to share what we’ve learned.