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The Ideal Process Of Hiring A Rental Property Manager
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All prospective rental managers need proper probing and screening before they could be handed over the property management work of a client. So to make it work you would require to write a job description, thoroughly screening prospective managers, and then prepare a suitable property manager agreement. Herein below we will discuss about the legal and effective ways of doing so.
Step 1: Screen the prospective rental managers. The process should include the following:
Do the screening of the candidates over the phone. Once a candidate calls you, be ready to describe the entire job responsibilities, payment terms and work hours to him or her and also inquire about their views and commitments.
One-to-one interview with good candidates. Look for only able candidates who meet your job requirements for in-person interviews. Ask proper questions so that you understand the work abilities of the candidates in the best possible way. Along with this do not forget to ask for a complete application.
Check for reference. It is very important to talk and discuss with the former employers of the candidates. Find out the applicant’s previous job responsibilities, strengths and weaknesses, character and personality qualities and the reason behind leaving the job. Make sure you collect all the information that would be needed by you to decide on the selection of the applicant.
Check the credit history of the applicant. You are well aware that your property manager would sometimes need to handle money matters. So surely check the credit history of the candidate in order to be confident. Also, don’t forget to take the applicant’s consent before ordering his/ her credit report.
Step 2: Decide on the duties, work schedule and pay structure of the rental manager. Some of the factors that you must consider which related to the recruitment of the manager are discussed below:
Determine the responsibilities of the manager. Ask yourself the question as to why you would require a rental property manager. Making a list of all the job responsibilities that you want your manager to handle will make the hiring process more objective. This would also give you ready ethics to measure which applicants are the most qualified and best suited for the job.
Decide the work time schedule of the manager. You may require a full time manager or may be a part timer, so this prior decision will help you select the exact candidate who can serve you according to your time parameters.
Finalize the payment structure. Your payment scheme may be on an hourly basis or a flat salary. The amount you pay would also depend on the manager’s responsibilities, the number of hours he or she works, the regularity of the schedule, the core benefits you receive and the current rate in your local market.
So choose your manager sensibly and with proper vigilance. Sometimes if you find it difficult to rely on a particular person, hiring a rental property management Service Company can be of great help.
Martin Luther has performed a series of interview with many property and asset management companies around the world. From all these interviews he established that the demand for rental property management service is huge as they provide all types of facilities required in maintaining properties and assets.
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