The North Carolina and Georgia Real Estate Commission sends out a quarterly Newsletter during the year. One of the major topics recently in both publications have been issues with property management companies and property managers.

Over the past 2 years real estate sales have been horrible. Nothing is selling except foreclosed properties for the most part. Because of this, there are some agents who have decided, “I will manage rentals to make money” but do not take the time to take property management classes to learn how to do it. Since they hold a real estate license they can go into property management without any additional training.

I just found out there is a property management company in Atlanta doing business and does not hold a real estate license. When you manage property for others, in Georgia and North Carolina you are required to have a real estate license There are some states that do not require you to have a real estate license.

If you are thinking about hire a property manager,here are so questions you need and must ask.

1. Are you a licensed real estate agent? Ask for a copy of their license.
2. Are you affiliated with a licensed real estate company?
3. If you are an agent not a broker, Is you broker aware that you are managing property for others?
4. How do you screen prospective tenants?
5. How do you handle repairs?
6. Will all repairs be done, if requested by the tenant?
7. Do you go to court if the tenant has not paid the rent?
8. How do you serve the demand letter for non payment of rent?

Now you have asked all the right questions of this particular property manager and you feel they are good at doing what they do best. You have two more thing you need to do. Ask for references but do it a little differently. Instead of them giving you the owners that really love them you go to their website. You choose 3 properties that they manage. Then ask them for the owner’s name and contact information for each of those properties. You then call those owners. Ask them what they like and dislike about the property manager.

Now do the same thing except ask for the tenant’s name and contact information for 3 of the properties. See what they like and dislike about the property manager.

At this point you have a pretty good idea if this is the kind of person you want to manage you most valuable asset!