· 5 min read
Handing over the day-to-day running of a property is a significant decision. The right manager can save you time and worry; the wrong fit can create friction. Before you commit, it helps to ask direct questions and expect clear, written answers.
What exactly is included?
Ask for a plain list of what the manager will do and what stays with you. Terms like “full management” can mean different things from one company to the next, so look for specifics rather than labels.
How are fees calculated?
Ask for every fee in writing: ongoing charges, one-off charges, and anything that applies when the arrangement ends. Ask what is charged for arranging repairs and whether there are any extra costs you might not expect.
How will we communicate?
- Who is my main point of contact?
- How and how often will I receive updates?
- What happens when something urgent comes up?
Who approves repair decisions?
Agree in advance what the manager can arrange without asking you, such as a spending limit, and what needs your sign-off first.
How are tenants’ money and records handled?
Ask how rent, deposits and records are held and reported, and what the rules are where your property is located. Requirements differ between countries and regions, so confirm the current position with official sources or a qualified adviser.
What happens if we part ways?
Check the notice period, how handover works, and how your records are returned. A good arrangement is as clear on the way out as it is on the way in.
Is everything in writing?
Whatever you decide, read the agreement carefully before signing and take independent advice if anything is unclear. This article is general information, not legal advice.
This article is general information only and is not legal, financial or tax advice. Rules differ by location and change over time.
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