What Every Investor Should Know Before Hiring a Property Manager

Key Interview Questions, Red Flags, and What to Look for in a Reliable Partner

Hiring a property manager should feel like a win. The goal is simple: less stress, more systems, and steady cash flow. But too many investors rush into the decision, only to find themselves stuck with late-night maintenance calls, unclear communication, or tenants who were never screened properly in the first place.

Whether you’re buying your first rental or expanding your out-of-state portfolio, here’s what every investor should know before bringing a property manager on board—plus the questions to ask, warning signs to watch for, and what a solid relationship should look like.

Whether you're meeting over Zoom or grabbing coffee locally, these questions will help you separate true professionals from the pack.

  1. How many doors do you currently manage, and what types of properties?
     → Look for managers experienced with the kind of rental you own—whether that’s single-family homes, small multifamily, or short-term rentals.

  2. What areas or neighborhoods do you specialize in?
     → A manager who knows the submarkets, tenant profiles, and rent comps in your property’s neighborhood will serve you better than one who covers too broad a region.

  3. Do you personally invest in real estate?
     → While not required, managers who are also investors often approach the role with a more strategic mindset.

  4. How do you screen tenants?
     → Listen for a thorough process: credit check, employment verification, rental history, criminal background check, and income-to-rent ratios.

  5. What’s your repair and maintenance process?
     → Clarify if they have in-house staff or use third-party vendors, and whether there’s a spending threshold where you’ll be consulted.

  6. What fees should I expect beyond the monthly management fee?
     → Ask about lease-up fees, renewal fees, maintenance markups, and early termination clauses.

  7. How often do you conduct property inspections?
     → Look for managers who conduct at least biannual inspections, with written reports and photos.

  8. What’s your rent collection and delinquency process?
     → You want a manager with clear, consistent procedures—not someone who “plays it by ear.”

  9. How quickly do you respond to owner and tenant requests?
     → Ask how they handle communication, and pay attention to how responsive they are during your interview process.

  10. Can you provide references from current owner clients?
     → Speaking with other investors can give you real insight into how they operate day-to-day.

Even a polished pitch can mask operational issues. Keep an eye out for these common warning signs:

  • Vague or incomplete answers to questions about tenant screening or maintenance procedures

  • Lack of digital tools (no online payment portal, delayed statements, outdated systems)

  • Overpromising on rents without market data to back it up

  • No clear fee schedule or surprise add-ons hidden in the fine print

  • Delayed communication or missed follow-ups even before signing a contract

These are often signs of disorganization—or worse, a reactive rather than proactive approach to property management.

Great property managers don’t just keep the lights on—they help protect your investment and strengthen your returns. You should expect:

  • Monthly financial reports delivered on time and easy to understand

  • Routine inspections with documented results and proactive repair suggestions

  • Clear communication with reasonable response times

  • Professional handling of tenant issues and consistent enforcement of lease terms

  • A collaborative approach that supports your goals as an investor

The best managers feel like an extension of your team—not just a third-party vendor.

Bonus Tip: Hire Before You Buy (Especially for Out-of-State Investors)

If you’re investing remotely, your property manager may be the most important person in your local team. Don’t wait until after closing to start your search.

Reach out early, interview multiple candidates, and loop them in during your property search. A solid PM can help you:

  • Evaluate neighborhoods

  • Estimate market rents

  • Flag properties that are tough to lease

  • Suggest cost-effective upgrades that improve tenant retention

Think of them as your local market guide—because that’s exactly what they are.

Final Thoughts: Take Your Time, Do It Right

Hiring a property manager is one of the most important decisions you’ll make as a real estate investor. Don’t rush the process. Ask the right questions. Verify what you’re told. And trust your instincts.

The goal isn’t just to find someone who can “handle things.” The goal is to find a partner who helps your investment grow—and makes the whole process feel a lot less stressful along the way.

Stephen Husted