Hiring a property manager can make or break your success as a rental property owner, especially if you’re leveraging platforms like Airbnb or Vrbo to maximize rental income. Whether you’re managing a single investment property or scaling a portfolio with the help of a brand like 10XBNB, asking the right questions ensures you partner with a property management company that aligns with your goals. At 10XBNB, we’ve seen firsthand how a good property manager can streamline operations, boost rental income, and reduce stress—while a mismatched one can derail your efforts.
This Airbnb Tips guide provides top questions to ask a property manager, offering unique insights from our experience in rental arbitrage and short-term rental optimization. From understanding their fee structure to evaluating their tenant screening process, we’ll cover what you need to know to make an informed decision. Let’s explore the key areas to focus on when interviewing potential property managers.
Why Asking the Right Questions Matters
Before handing over the keys to your rental property, you need clarity on how a property manager operates. A skilled property manager doesn’t just collect rent—they optimize your investment, ensure legal compliance, and maintain your property’s value. Poor communication or misaligned priorities, however, can lead to costly mistakes. By asking targeted questions, you’ll uncover whether a prospective property manager fits your needs, whether you’re managing a single rental unit or dozens of properties with 10XBNB’s hands-free automation strategies (learn more here).
General Questions to Ask a Property Manager
1. How Many Properties Do You Currently Manage?
Understanding how many properties a property manager oversees gives insight into their capacity. Many property management firms have specific practices regarding rent collection, and a property manager juggling too many rental units might not give your property the attention it deserves, while one with too few might lack experience. At 10XBNB, we recommend aiming for a property manager with a balanced portfolio—enough to prove expertise but not so many that your rental property gets lost in the shuffle.
2. What Types of Properties Do You Specialize In?
Not all property managers handle every type of rental property. Some excel with long-term leases, while others thrive managing short-term rental units like those listed on Airbnb or Vrbo. Ask a property manager if they’re familiar with your property type—single-family homes, multi-family units, or vacation rentals—and how they adapt their approach.
3. How Long Have You Been in Property Management?
An experienced property manager brings a track record of handling tenant issues, maintenance requests, and rent collection efficiently. Property managers with experience managing their own properties are often better equipped to understand landlord perspectives and make decisions that align with the interests of real estate investors. While newer managers can still be effective, longevity often signals reliability. Pair this question with a request for references to gauge their performance.
4. Are You a Licensed Property Manager?
Licensing requirements vary by state, but a licensed property manager demonstrates a commitment to professionalism and knowledge of local laws. This is especially critical for ensuring compliance with fair housing laws and managing lease agreements effectively.
Questions About Fees and Contracts
5. What Is Your Management Fee Structure?
Management fees typically range from 8-12% of monthly rent for long-term rentals or a flat fee for short-term rentals. This standard monthly fee may not cover additional charges for specific services like evictions. Ask a property manager to break down their fee structure—does it include tenant placement, leasing fees, or renewal fees? Consider whether they charge a renewal fee when a tenant’s lease is nearing expiration, as this can be justified based on market conditions and tenant willingness to renew. At 10XBNB, we’ve found that transparency here prevents surprises later.
6. Are There Any Miscellaneous Fees?
Some property management companies tack on extra charges like maintenance reserve fees or costs for handling off-hour emergencies. Additionally, some areas charge seasonal fees related to maintenance activities such as opening and closing pools or winterizing homes. Clarify what’s included in the management fee versus what’s billed separately to avoid budget creep.
7. What’s the Length of Your Property Management Contract?
A property management contract can range from month-to-month leases to multi-year agreements. It is crucial to understand the terms of a management agreement, including duration, renewal processes, and how to terminate the agreement. Ask about cancellation terms and penalties—flexibility is key if the relationship doesn’t work out.
Questions About Rent Collection and Pricing
8. How Do You Handle Rent Collection?
Efficient rent collection is the backbone of rental income. It is important to clarify who retains late fees and the policies surrounding their assessment. Does the property manager collect rent electronically, and how quickly do they disburse funds to you? Delays can disrupt cash flow, especially for investment properties.
9. How Do You Determine Rental Prices?
A good property manager conducts a market evaluation to set a competitive rental price. They also consider the concept of raising rent in relation to market conditions, specifically questioning whether landlords would increase rates even if the market called for it. Ask how they analyze market rents and adjust for seasonal fees in areas with fluctuating demand—a must-know for Airbnb hosts optimizing with 10XBNB’s Airbnb Tips.
10. What Happens If a Tenant Doesn’t Pay Rent?
Late payments can derail your finances. Ask a property manager about their process for handling delinquent rent and, if necessary, the eviction process. A clear plan here is non-negotiable.
Questions About Tenant Management
11. What’s Your Tenant Screening Process?
A thorough screening process ensures you attract good tenants who pay on time and respect your property. Ask about background checks, credit scores, and rental history—key components of a robust tenant screening process.
12. Do You Require Tenants to Have Renter’s Insurance?
Requiring tenants to have renter’s insurance is a common practice among property managers and for good reason. Renter’s insurance protects tenants against losses or damages to their personal property and provides liability coverage for accidents that may occur on the rental property. By mandating this insurance, property managers can significantly minimize potential risks and financial losses.
Many property managers include a clause in the lease agreement that requires tenants to purchase renter’s insurance. This clause typically specifies the minimum amount of coverage required and any specific policy requirements. Some property managers even provide recommendations for insurance providers or offer guidance on how to purchase renter’s insurance.
The benefits of requiring renter’s insurance are manifold. It helps reduce the risk of financial losses due to tenant-caused damages or accidents, providing an added layer of protection for both the property owner and the tenant. Tenants with renter’s insurance are better equipped to handle unexpected expenses, which can lead to fewer disputes and a smoother rental experience.
When discussing renter’s insurance with a prospective property manager, it’s essential to understand their specific requirements and recommendations. This ensures that tenants are adequately protected and that the property manager is taking proactive steps to minimize potential risks.
12. How Do You Handle Lease Agreements?
Lease terms vary—some property managers offer month-to-month leases, while others lock in year-long commitments. Having a lease signed is crucial in the tenant approval process, as it helps understand the timeline for various aspects of property management, such as vacancy duration and background checks. Confirm they customize lease language to comply with fair housing laws and protect your interests. Month-to-month leases provide flexibility, but be aware that some property managers may charge extra for these leases, so it’s important to understand the associated policies and fees.
13. What’s Your Lease Renewal Rate?
A high lease renewal rate signals tenant satisfaction and reduces turnover costs. Ask a property manager how they encourage renewals and manage new tenant placement when vacancies occur.
Questions About Maintenance and Emergencies
14. How Do You Handle Maintenance Requests?
Maintenance requests can pile up fast. Does the property manager handle maintenance in-house or outsource it? At 10XBNB, we recommend syncing with their process using tools like our Airbnb Cleaning Checklist for consistency.
15. Who Handles Off-Hour Emergencies?
A pipe burst at 2 a.m. shouldn’t leave you scrambling. Ask a property manager how they handle off hour emergencies, manage urgent issues, and whether they charge extra for after-hours support.
16. Do You Conduct Inspections?
Regular inspections catch issues early. Ask how often they conduct inspections and whether they provide a short-term rental inspection checklist (like this one) to maintain standards.
Questions About Technology and Communication
17. What Property Management Software Do You Use?
Modern property management relies on tech. Ask if they use a PMS channel manager (details here) to sync bookings across platforms like Airbnb and Vrbo—crucial for short-term rental hosts.
18. How Often Will You Update Me?
Communication is king. Will you get monthly reports on rent collected, maintenance updates, and tenant issues? A proactive property manager keeps you in the loop without overwhelming you.
19. Can You Share My Airbnb Calendar With Cleaners?
For short-term rentals, seamless coordination with cleaners is essential. Ask a property manager if they can integrate tools like 10XBNB’s Share Airbnb Calendar Cleaner to keep operations smooth.
Questions About Marketing and Vacancy
21. How Do You Market Vacant Rental Units?
Marketing vacant rental units effectively is a critical aspect of property management. A well-executed marketing strategy can attract potential tenants quickly, reduce vacancy rates, and ultimately increase rental income. When evaluating a property manager’s marketing approach, it’s essential to understand the tactics they use to promote vacant rental units.
Common marketing strategies employed by property managers include:
- Online Advertising: Utilizing platforms like Zillow, Trulia, and Craigslist to reach a broad audience.
- Social Media Marketing: Leveraging social media platforms such as Facebook and Instagram to engage with potential tenants and showcase rental properties.
- Local Advertising: Using local newspapers, flyers, and brochures to target the community.
- Referral Programs: Offering incentives to current tenants or others who refer potential tenants.
- Open Houses: Hosting open houses to allow prospective tenants to view the property and ask questions in person.
When assessing a property manager’s marketing strategy, consider the following factors:
- Effectiveness: Is the strategy successful in attracting potential tenants and reducing vacancy rates?
- Cost: Are the marketing expenses reasonable compared to the potential benefits?
- Target Audience: Is the strategy tailored to attract the right demographic, such as young professionals or families?
- Frequency: How often is the marketing strategy updated, and is it consistent with the overall marketing plan?
Understanding a property manager’s marketing strategy provides valuable insight into their ability to attract tenants and maintain low vacancy rates, which is crucial for maximizing rental income.
Questions About Lease Renewal and Termination
22. What’s Your Lease Renewal Policy?
A clear and fair lease renewal policy is a cornerstone of effective property management. It outlines the terms and conditions for renewing a lease agreement, including the notice period, potential rent increases, and any changes to the lease terms. When discussing lease renewal policies with a property manager, it’s important to understand their approach and procedures.
Common lease renewal policies include:
- Automatic Renewal: The lease agreement automatically renews for a specified period, such as 6 or 12 months, unless the tenant provides notice of termination.
- Notice-Based Renewal: The tenant must provide notice of their intention to renew the lease, typically 30 or 60 days before the lease expiration date.
- Rent Increase: The property manager may increase the rent upon lease renewal, usually based on market rates or a predetermined percentage.
When evaluating a property manager’s lease renewal policy, consider the following factors:
- Notice Period: Is the notice period reasonable, providing sufficient time for the tenant to make an informed decision?
- Rent Increases: Are the rent increases fair and based on current market rates or a predetermined percentage?
- Lease Terms: Are the lease terms clear, concise, and protective of the property owner’s interests?
- Communication: Does the property manager communicate effectively with tenants regarding lease renewals and provide timely notice of any changes to the lease terms?
Understanding a property manager’s lease renewal policy helps property owners ensure a smooth transition for tenants and maintain stable rental income.
Questions About Legal and Financial Oversight
20. How Do You Ensure Legal Compliance?
From security deposits to renter’s insurance requirements, a property manager must navigate local laws. Renter’s insurance is a crucial safety measure for tenants, providing coverage against risks such as fire, theft, and vandalism. Ask how they stay updated on regulations to avoid costly violations.
21. How Do You Handle Security Deposits?
Clarify their process for collecting, holding, and returning the security deposit. Mishandling this can lead to legal headaches.
22. What’s Your Policy on Operating Expenses?
Understanding how a property manager tracks operating expenses (explore more here) ensures your rental property remains profitable.
Unique Insights From 10XBNB
At 10XBNB, we’ve learned that hiring a property manager isn’t just about delegation—it’s about partnership. One overlooked question to ask a property manager is how they handle power outages or unexpected disruptions. Our Airbnb Power Outage Policy offers a framework, but a proactive property manager should have their own contingency plan. Another tip: ask potential property managers how they optimize vacant units during off-seasons—creative strategies here can boost your bottom line.
What’s Most Important to a Property Manager?
A good property manager prioritizes three things: maximizing rental income, maintaining the property, and keeping tenants happy. Addressing maintenance issues promptly is crucial for ensuring tenant satisfaction and maintaining the property’s condition. They balance these by setting fair rent prices, responding to maintenance requests promptly, and enforcing lease agreements consistently. When interviewing prospective property managers, gauge their focus on these pillars—it’s a strong indicator of their effectiveness.
What to Say in a Property Management Interview
When meeting potential property managers, frame your questions confidently: “I’m looking for a property management company that can handle rent collection efficiently—how do you ensure timely payments?” or “My goal is to scale my rental units with minimal hassle—how do you support growth?” This shows you’re serious about hiring a property manager who aligns with your vision, like the systems we champion at 10XBNB.
Final Thoughts
Choosing the right property manager is a game-changer for your rental property success. By asking these questions—covering everything from management fees to tenant screening—you’ll find a partner who enhances your investment. At 10XBNB, we believe in empowering property owners with knowledge and tools to thrive, whether you’re managing properties solo or with a property management company. For more resources, revisit our guide on Questions to Ask a Property Manager.
