Before outsourcing property rental management to a third party

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Questions to ask before outsourcing property rental management to a third party





34 due diligence questions.


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Viewings

  1. Do you only do viewings within a certain time frame?
  2. How many viewings does it typically take to get a unit rented?
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Reporting

  1. What kind of reporting do you deliver?
  2. Do you have IT systems where we can get live access?
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Coordination

  1. How do you get notified when a new Rental Unit becomes available?
  2. How do we avoid that we accidentally "forget" an unrented rental unit? What control systems are in place?

Pricing

  1. What is your price structure?
  2. Does the Agent receive a bonus for finding a Tennant?
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Marketing

  1. How do you generate leads?
  2. Can we generate leads as well? What are the practicalities involved with that?
  3. --- ---- --------- -- -------- -- --- ------?

Agents

  1. What incentive does the Agent have for doing Viewings in odd hours?
  2. What is the Agents background for doing this job?
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Tenants

  1. The potential Tenants that are viewing out Rental Units, do they get exposed to other units as well?
  2. Do you systematically registre the various reason potential tenants rejects a unit for us to use the feedback?
  3. --- -- --- ---- ---- ---- ------- ---- --------?
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Clients

  1. Who are your current clients today?
  2. Have you had any clients terminate their contracts? Why?

Other questions

  1. Where do you get text and picture materials from?
  2. How fully automated can this be made, in case we don't want any involvement?
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