Questions To Ask Your Real Estate Asset Management Company
When searching for a real estate asset management company, you may be confused or wonder where to start. It can be difficult to even know what they do or why they do it, let alone trying to find companies that will help you. Therefore, it is important to know which questions to ask to ensure you find the right one.
Types of Interviews
There are three main types of interviews you could have with the company in question. These can be phone, situational or behavioral interviews. In many cases, situational and behavioral interviews are intertwined to produce the best of both worlds. If you live in a different state than your property and want to find companies in the same state as your property, then a phone interview may work better. However, it can also be helpful to meet the people in person, at least once, to ensure they look trustworthy.
Take into consideration their experience, including where they have worked in the past. This may require you to ask why they left their previous position or how many properties they have managed in this capacity. Remember that property and asset management are two different things, so ensure they have the particular managing techniques you require.
Ask what their duties were at other establishments and what they expect to do as a manager on your property. You will also use this time to explain to them what you will require of them, but it can be helpful to hear what they think is expected of them as well.
Asking them about their common mistakes or the mistakes of others can tell you a lot of information. During this question, you may also want to ask them how they would solve those common mistakes. This allows you to hear how they work through problems and check their answers to ensure it would be something you would do.
While it may seem silly, it can be very helpful to hear them talk about their weaknesses and strengths. Most people have no problem talking about their good points, but may not be able to talk about any of their weaknesses. Often times, they worry that they won’t get hired because of their biggest weakness. However, it can help you understand their motivation and problem areas and determine if they will be a good fit.
When searching for a real estate asset management company, you need to consider the type of company and their experience, amongst other things. Visit Real Property Management Triad to learn more and find out how they can help.