12 Questions To Ask Before Hiring a Property Management Company in Staten Island [INFOGRAPHIC]

When it comes to maximizing the net income of your investment property, a professional property management company in Staten Island can play a big role. Property management is much more than just collecting rent from tenants; it’s advertising, tenant screening, negotiating, maintaining the premises, obtaining insurance, and so much more.

So, before you hire, be sure to ask the following questions


12 Questions You Should Ask a Property Management Company in Staten Island (before hiring them)

1. Are you a licensed and insured property management company?

Make sure this answer is a “yes” especially if legal matters arise. And confirm that the property management company has liability insurance.

2. How long have you been in business? And how many sales agents do you have?

The more experience they have the better they should be able to handle any situation. Gateway Arms is a full-service property management company in Staten Island with over 30 years of experience.

3. How many properties (and what types) do you manage?

Make sure the property manager has experience in the type of property you have whether it be single family, multifamily, commercial, etc. Gateway Arms Realty has experience managing rental properties throughout Staten Island including office buildings, condominium associates, industrial and more. This will give you a glimpse into how big the company is and how they can help you. Follow up by asking how many properties go vacant in an average month.

4. What is the breakdown of your fees?

It’s a good idea to review all documents beforehand to confirm they work well for your situation. Find out all the fees involved so you’re not met with any surprises down the road. Typical fees include: leasing fees, marketing related expenses, lease renewal fees, management fees.

5. Describe the screening process for qualifying tenants.

We understand it can seem impossible to find a perfect tenant but there are many steps that can be taken to securing a good renter. Expect to see a credit check, background check, eviction report, pay verification and previous history of rent payments from the screening process.

6. What is the eviction process?

Make sure they know how to handle an eviction as quickly and efficiently. At Gateway Arms, we conduct all tenant screening and collection services to help prevent the need for eviction, but if that need were to arise, we’ll handle that, too.

7. What is the communication process?

Find out how and when you and your tenants can expect to be contacted. Who to call for repairs, questions from tenants, etc.

8. How do you determine market rent value?

Ask for MLS rent comps; they should be able to provide proof that the projected rent values coincide with the market.

9. What does your management service encompass regarding maintenance & repairs?

Your property manager should not only screen contractors for maintenance, but also schedule inspections, and handle all safety and environmental issues on the property. Find out if preventative maintenance and repairs require approval from you first. Your tenants need a safe house in good working order and so do you!

10. How does the security deposit & payment work?

Ask when the check/ACH disbursement will occur after the tenant pays rent. You should feel confident in a property management company that works with a certified public account to handle all financial services accurately.

11. Do you provide monthly reports?

Ask for monthly invoices and statements so you can see all the details, dates, payouts, repairs and activity that happens with your rental property each month.

12. Last but not least. Do you have references?

A professional property management company will have solid references of existing clients they can direct you to. Take the time to contact these references and see what they have to say.

Gateway Arms- Your Trusted Property Management Company in Staten Island

At Gateway Arms, we create custom management plans for a variety of properties, and believe in working closely with our clients to identify individual goals in effort to bring investments, security, and confidence to the highest levels.

To learn more about real estate and property management in Staten Island, call us at 1-718-273-3800.