What Questions Should You Ask When Hiring a Property Manager? 9 Essential Questions You May Not Have Thought to Ask

Hiring the right property manager is one of the most critical decisions you’ll make as a rental property owner. A skilled property management company can maximize your rental income, handle day-to-day operations, and protect your investment. However, not all property managers are created equal. Knowing the right questions to ask can help you identify a professional who aligns with your goals and expectations.

Here are 9 essential property management questions to ask when hiring a property manager to ensure you’re making the best choice for your rental property.

1. Are You a Licensed Property Manager?

This is the first and most important question. Property managers must be licensed to legally manage rental properties in many regions, including Alberta. A license ensures the property manager is knowledgeable about local laws and regulations, protecting both you and your tenants.

At AspirePeak Properties, we are fully licensed through the Real Estate Council of Alberta (RECA), providing peace of mind to our clients.

2. How Many Advertising Cycles Do the Fees Cover?

Tenant placement fees can vary significantly. Some property management companies charge a fee for every tenant placement, even if a tenant breaks their lease early. Others, like AspirePeak Properties, include a set number of advertising cycles in their contracts.

We offer two advertising cycles per year in our contracts, ensuring your property remains occupied without unexpected costs.

3. What Happens with Lease Fees Like Late Fees, Pet Fees, or Lease Break Fees?

Lease fees, such as late payment fees, pet fees, and lease break fees, can add up. Some property management companies keep these fees for themselves, while others split them with property owners. It’s important to clarify how these fees are handled.

At AspirePeak Properties, we value transparency and ensure you’re fully informed about how these fees are managed.

4. What Is the Spend Limit for Maintenance Items Without Owner Approval?

Maintenance expenses can quickly spiral out of control if your property manager has a high spend limit without needing your approval. Knowing this limit upfront helps you maintain control over your budget.

We work closely with property owners to establish reasonable spend limits, so there are no surprises when it comes to maintenance costs.

5. Is There a Coordination Fee Added to Maintenance Bills?

Many property management companies charge a coordination fee—typically 5% to 15%—on top of vendor bills. This fee can significantly inflate your maintenance expenses.

At AspirePeak Properties, we do not charge coordination fees, saving you money on every maintenance request.

6. Do You Handle Insurance Claims on the Property?

Insurance claims can be stressful and time-consuming. Some property management companies leave this responsibility to the property owner, while others handle it on your behalf. Make sure to ask if they assist with claims and ensure you have the right coverage.

AspirePeak Properties manages insurance claims for our clients, providing a seamless process and peace of mind.

7. Once Rent Is Collected, When Do I Get Paid?

Timely rental payments are crucial for managing your finances, especially if you have bills like a mortgage to cover. Different property management companies have varying timelines for disbursing rent payments to property owners. Confirm when and how you’ll receive your funds.

At AspirePeak Properties, we prioritize prompt rent disbursement, so you can budget effectively without delays.

8. How Often Are Inspections Completed?

Regular property inspections are essential for maintaining your rental property. They help identify potential issues early, ensure tenant compliance, and protect your investment. Ask how often inspections are conducted and what they include.

AspirePeak Properties conducts move-in, move-out, and midterm inspections at six months, providing detailed reports with photos for your records.

9. Can You Describe Your Tenant Screening Process?

Tenant screening is the cornerstone of a successful rental property. A thorough screening process reduces the risk of late payments, property damage, and evictions. Ask your prospective property manager to explain their screening process in detail.

At AspirePeak Properties, we use advanced tools to conduct credit checks, background checks, and reference verifications. Our rigorous screening process ensures we place reliable tenants who care for your property and pay rent on time.

Why Asking the Right Questions Matters

Choosing the right property manager isn’t just about finding someone to handle the day-to-day operations of your rental property. It’s about partnering with a professional who will protect your investment, maximize your returns, and provide peace of mind. By asking these nine questions, you’ll gain valuable insights into how a property management company operates and whether they’re the right fit for you.

At AspirePeak Properties, we pride ourselves on transparency, professionalism, and personalized service. From tenant screening to maintenance and everything in between, we’re here to make your property management experience seamless and stress-free.

Ready to Partner with the Experts?

Contact AspirePeak Properties TODAY to learn how we can help you achieve your rental property goals. Let us show you why we’re the trusted choice for property management in Alberta.

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