Friday, December 17, 2010

5 Steps to Finding the BEST Property Manager. Step 5: What background checks do they do?

Do they take the first cab off the rank or do they do rigorous checks? A bad tenant can cost a lot of money. Thanks to the internet there is a lot of information floating around out there. If someone has a history of being a bad tenant then there is no reason why your property manager shouldn't know about it. They should be checking references and qualifying the references as legit. They should be gathering as much information about the prospective tenant before they give the green light.

I have heard of companies who don't check references as they say people can lie. A good property manager will know what questions to ask references; the right questions will uncover false references. Reference checking is crucial as it builds up a profile of a person they may have only spent 30 minutes with when meeting them at the property. You want to be sure they are careful choosing someone that is going to be living in your asset.

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