How to Find the Right Property Manager A step by step guide!

  If you buy a rental property in a different part of the country, you might find it challenging to properly manage it on your own. This is why you will need to employ a dependable property manager not only to charge rent and other payments on your account but to handle daily upkeep and react to the requirements of your tenants. Look out for these tips to find the best property manager!


Get recommendations

Investors are entering markets across the nation these days, focusing on homes that are built by reputable property developers in Sri Lanka the likes of John Keells Properties. Reputable property managers are best found via recommendation. In order to acquire the services of a reliable property manager with an untarnished reputation, you can also check with online sources such as LankaPropertyWeb. Always interview the person in question; each and every one of them, even if they are recommended by someone you trust.


Observe the initial impression 

Meet each applicant if possible. Is the property manager well-mannered and approachable? Consider yourself a potential renter. Will you rent the property if this is the person who is selling it to you - this is the main question to which you need to find the answer.


Find out how the individual handles job postings 

Make sure to ask these questions:

  • What websites does the property manager use to promote available homes? 

  • What kind of signage does he or she put up in front of the house?

  • Do they place ads in newspapers, on the internet, or at neighbouring colleges? 

  • What is the total number of vacancies held by the property manager? 

  • What is the typical time taken to find a new tenant?

  • What are the types of vacancies that the property manager has? If you have a two-bedroom condo and your property manager primarily works with single-family houses, they might not even understand how to focus on the appropriate demographic while looking for renters. 

  • Take a close look at the property manager's website if one exists. Are you intrigued by its appearance and features? 

  • Is it simple to locate the rental list as a potential tenant? 

Work out the contract's conditions

These are some of the questions you need to check out in the contract:

  • What is the name of your primary point of contact or what is the contact information? Make absolutely sure you can reach out to your property manager through a variety of channels, including call/email. 
  • What are the rates for their services? Ensure that the monthly charge and the lease cost for finding a renter are both recorded.

  • Is the price comparable to what other property managers in the region charge? If the fees are either low or too expensive, this may indicate that the management is inexperienced or that the deal is too good. 
  • How many days of notice is required by the property management to end the contract? If you are dissatisfied with your property manager's services, you should be allowed to dismiss them within 30 to around 60 days, giving you ample time to find someone else. 

  • What procedures are in place for repairs and maintenance? Are repairs, for instance, outsourced and charged a set fee on top of overall cost?

  • What is the amount of a retainer required by the property management for emergency repairs? 

  • When should you anticipate receiving the rent from the renter each month? Are direct deposits an option, or will a cheque be sent to you? 

  • What will the management do if a renter is late on rent?
  • What is the status of their eviction proceedings? 

  • Inquire about the manager's procedure in detail.






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