When considering which property management company is right for you as a property owner, you are going to have to ask a number of questions. So guide and the below video will help you know how to ask the right questions so your investment property is managed by the right property manager.

Whether you're a short or long-distance landlord, the first step in knowing what to ask is determining the type of property management company you want. There are a number of companies that will handle the day-to-day maintenance of your property such as repair and lawn care. These types of services are generally referred to as "full service" management companies in which the property manager will do everything for you, or "managed service" companies in which you employ a property manager or a team of people to manage your home on an hourly basis.

In Saskatchewan, the Saskatchewan Real Estate Commission (SREC) is the legal regulator body that oversees the property management industry. On the SREC website, they maintain a list of all active legal property management companies in your given city - you can click on Regina and make sure the company is verified. If the company is not, they cannot legally manage your property or condominium. This means they cannot sign contracts with tenants or represent your interests in real estate. Property owners need to be made aware of this important fact as higher a qualified professional will protect the investment property.

law SK.jpeg

Review the property management’s ability to handle maintenance issues - what kind of maintenance services can they provide and is their maintenance team skilled in servicing various single-family homes, multifamily, condos or Commerical buildings. The most important thing is to find out exactly what the company does for you. Will they do inspections, maintenance, repairs or just "management"? What does that mean? How long have they been in business, and what type of references can you get. The more questions you can ask upfront about the specific services and abilities of the company the better.

Finding the Right Property Management Company in Regina

Your rental properties need to marketed to the right renters. There are several platforms and marketing strategies available to property management companies. Ask the management team what software do they use, why they use it and what competitive benefits their marketing strategy provides. Your property needs to get rented out and finding renters requires strategy and execution in competitive markets.

If you are looking for condo management or property management, a lot of the same questions will apply. When reviewing your options, take note of the companies communication. Communication is at the very heart of property management and is a key part of property management. It is a service that needs to be prioritized. Communication can mean ongoing contact, regular meetings or just keeping you in the loop on what is currently happening. The companies communication skills will let you know what to expect and if it will be fulfilling your needs.

sk condo.jpeg

The communication that the property management or condo management company has with you can also foreshadow the communication they will have with your renters or condominium board. Having a good working relationship with the board and the property management company is a must for any property management.

Asking these questions will get you started with the right questions when selecting your property management company in Regina.