Questions from a Tenant to a Property Manager

Bangalore is a hot property market in India. Each year, several thousand flock to the city either for education or job purposes from all over the country. They need accommodation. While students either reside in college accommodations, and sometime as Paying Guests, working professional prefer to rent. Those who are looking for a rented accommodation approach real estate agents.

On the other side are the home owners. They too approach the real estate agents to look for a tenant. The real estate agent forms the common platform between the two. There are property managers or property management companies that perform a similar function.

Before choosing a property management company there is certain conditions that should be looked into so as to ascertain whether the manager will be able to deliver or not. Queries should be directed either to him or to the management and the responses evaluated before making a decision.

While the property owner too must be looking to fill the vacancy as fast as possible, the tenant too needs an accommodation at the earliest. Hence, the property manager or management should endeavor to fulfill the needs of the tenant in the best possible manner. It is in the interest of his business too. The better his reputation, the more the chances of increasing the business.

There are some questions that the tenant needs to pose the property manager before hiring his services.

Do you possess the required experience or how many years have you been in the industry or the job?

Industry-specific skills and knowledge such as knowing how to go about looking for the property effectively comes with experience. Some people start their career in real estate as receptionists and then move up to the property management department, and some of the top performers move into sales. Yet some individuals choose property management as a career and this is the type of person that should be looking after your property.

What is your portfolio – what is the range of rent that you generally serve?

The tenant will have a budget. The property should be able to serve the needs of the customer accordingly. If it is found that the tenant’s budget is beyond (mostly below) the portfolio of the property manager, he should look for someone else.

Do you check potential tenant’s references to ensure you have a reliable tenant who is unlikely to cause troubles? Do you have a system for checking prospective tenants with regard to past rental history and their current employment?

Prepare the documents that they may require from you well in advance so you don’t get delayed in case, you like the property.

Who will draw the lease?

You should get a copy of the lease before it is finalized. Read it thoroughly with ample time in your hands.

Who will handle the repairs and maintenance?

Be clear about this so that later there is no ambiguity or trouble. If repairs are to be handed by you and that is fine with you, proceed. If not, look elsewhere.

How many years has the property manager been with the agency or office?

You should look for stability in your property manager. You want to pick up the phone and talk to that person today, and in 6 months time you want to be able to talk to that same person. Due to the stresses involved in property management, the staff turnover tends to be quite high.