Handing your rental to a property manager is a big decision. The right one protects your income, your building and your time. The wrong one costs you all three. Before you sign a management agreement, these are the questions worth asking.
1. What exactly is included in the management fee?
Fees in the DMV are usually quoted as a percentage of collected rent, but what that percentage covers varies widely. Ask for a written list: rent collection, maintenance coordination, inspections, owner statements, lease renewals, and how they handle late payments. Then ask what costs extra: leasing fees, renewal fees, markups on maintenance, eviction coordination and vacancy fees. A low headline rate with a long list of add-ons can cost more than a higher all-in fee.
2. How do you screen applicants?
Screening is where most rental problems are prevented. A good manager uses written, consistent criteria (income, rental history, credit and identity verification) and applies them the same way to every applicant. They should also understand the local rules: DC, Maryland and many counties have their own requirements on top of federal fair housing law, including protections for applicants who use housing vouchers.
3. How quickly do you respond to maintenance requests?
Ask for specific response times for emergencies (no heat, active leaks, no water) versus routine requests. Ask who answers the phone after hours and on weekends. Residents who get fast, respectful responses stay longer, and turnover is one of the biggest costs an owner faces.
4. Who are your vendors, and do you mark up their invoices?
Licensed, insured vendors protect you from liability. Find out whether the manager uses in-house staff, a vetted vendor list, or whoever is available. Ask whether you'll see the original invoice, and at what dollar amount they need your approval before starting work.
5. What will my monthly statement look like?
You should be able to see, every month, exactly what came in, what went out and why. Ask to see a sample owner statement. If the manager offers an online owner portal, ask for a walkthrough. (We wrote a whole guide on what a good owner statement should show.)
6. How do you handle late rent and nonpayment?
You want a clear, consistent and lawful process: reminders, late notices, payment plans where appropriate, and an understanding of DC and Maryland's notice requirements. Avoid anyone who describes shortcuts. Self-help evictions are illegal and expose owners to serious liability.
7. How often do you inspect the property?
Move-in and move-out inspections with dated photos are a must. Periodic inspections (at least annually) catch small issues like slow leaks, failing caulk and clogged gutters before they become expensive.
8. Do you handle licensing and inspections?
In the District, rental units generally need a Basic Business License before they can be leased, and several Maryland counties have their own rental licensing and inspection programs. A manager who knows these requirements keeps you compliant and avoids fines that can stall a lease-up.
9. How do you market vacancies?
Ask where listings are posted, whether they include professional photos or video tours, and what their average days-on-market looks like. Every vacant week is lost income, so a manager who markets well and turns units quickly pays for themselves.
10. What does it take to end the agreement?
Read the termination clause. Reasonable agreements let either party exit with written notice and spell out how security deposits, keys, files and funds get transferred. Be wary of long lock-in periods or steep cancellation fees.
The bottom line: the best property managers are transparent about fees, consistent in screening, fast on maintenance and clear in their reporting. If a manager can't answer these ten questions plainly, keep looking.
Thinking about professional management?
Tilmon Properties manages residential and commercial property across Washington D.C., Suburban Maryland and Baltimore. Tell us about your property and we'll put together a proposal.
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