"How many properties do you manage?" and "What software do you use?"

What questions to ask when interviewing a property manager? Many people ask about the number of properties we manage and the software we use. It isn't necessarily a fallacy, but it might not provide a complete picture of their competency or effectiveness. These questions can offer some insights into their workload and technological tools, but they don't tell the whole story.

1. Number of Properties Managed: Knowing the number of properties a manager oversees can provide a general idea of their workload and experience. However, the mere quantity might not reflect the quality of their management. A manager handling a large portfolio might have solid organizational skills. The real question is, do you have the time and bandwidth to give my property priority attention?
2. Software Used: Inquiring about the software a property manager uses is relevant to know if it might be a software you're familiar with and if it's user friendly. Most property managers are using one of 2-5 top softwares in the industry. But more importantly, is the people behind the software. The real question is, are you reconciling bank accounts every month so that the software is accurately reflecting the funds on hand? Are you checking service requests and following up every business day? The effectiveness of a manager isn't solely determined by the software they use but rather how effectively they utilize it to benefit the properties they manage.

While these questions can provide a starting point for evaluating a property manager, it's essential to ask more detailed and insightful questions to gauge their competence and suitability for your specific needs:

• Tenant Relations: Inquire about their approach to tenant relations, how they handle tenant concerns, and their methods for maintaining tenant satisfaction.
• Maintenance and Repairs: Ask how they handle property maintenance and repairs. Understanding their process for handling maintenance requests, hiring contractors, and ensuring timely repairs is crucial.
• Financial Management: Inquire about their approach to rent collection, accounting procedures, financial reporting, and how they handle late payments or arrears.
• Legal and Regulatory Compliance: Ask about their knowledge of local laws, regulations, and compliance issues related to property management.

By asking these more detailed questions, you can gain a deeper understanding of a property manager's expertise, experience, and suitability for managing your properties effectively, going beyond just the number of properties they handle or the software they use.

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