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Page 4 of 8
Choosing a property manager
- How thoroughly will you check my property after the tenant leaves?
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Could you show me a copy of your standard Property Condition Report, and can photos/videos be included?
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If the tenant fails to pay rent, will the notice of breach for late rent be issued automatically and promptly?
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Have you any experience representing property owners in the Small Disputes Division of the local court?
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Can you give me the name of two people whose properties you currently manage so I can speak to them about your services?
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What are the penalties if I terminate the contract before the agreed period expires? Note: any penalties (often referred to as “liquidated damages”) can be negotiated.
It is a good idea to discuss with your property manager the different types
and amounts of insurance that you may need.
In addition to house insurance, you should discuss the option of landlord protection insurance with your property manager. This type of insurance can
protect you if the tenant damages your property or if you experience a loss of
rental income.
It is wise to find out exactly what the insurance policy will cover you for. For example, some landlord protection policies will cover you for damage
deliberately caused by tenants but not accidental damage.
Another fact to bear in mind is that some landlord protection underwriters will only deal with real estate agencies, not directly with owners.
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