Why the Interview Matters More Than the Proposal
Most property owners evaluate management companies the wrong way. They collect a few proposals, compare fee percentages, read some Google reviews, and make a decision. That process will tell you almost nothing about whether a management company will actually protect your investment.
The right way to evaluate a property manager is through a direct conversation with pointed questions. Not questions that let them pitch you. Questions that reveal how they actually operate.
At M Property Group LLC, we’re happy to be asked every one of these. If a management company squirms when you ask them, that’s your answer.
The 6 Questions That Reveal Everything
1. Who keeps the late fees?
This one question separates transparent management from the alternative. If the company keeps late fees, ask why. The money came from your tenant, for a late payment on your property. There is no defensible reason it should go to anyone other than you.
Managers who keep late fees will frame it as an “incentive to enforce the lease.” Ask them what incentive they have to help chronic late payers improve if every late payment puts money in their pocket.
2. Do you markup vendor invoices or charge a maintenance coordination fee?
Standard practice in many management companies is to add 20 to 40 percent to vendor invoices or charge a flat coordination fee per repair. You pay it without realizing it because you only see a summary line item, not the original invoice.
Ask to see an example of a past maintenance statement with the original vendor invoice attached. If they can’t or won’t show you, that gap is where your money goes.
3. What is your average days-to-fill on vacancies?
Vacancy is your biggest expense. Every day a unit sits empty is lost revenue you can never recover. A good property manager should know their average days-to-fill and be able to back it up with real data, not an estimate.
Ask how they market vacancies. Ask whether they list on Zillow, Apartments.com, Facebook Marketplace, and HCV/Section 8 portals. Ask how they handle showings. A manager who struggles to answer these questions in detail probably isn’t moving units fast.
4. What does your tenant screening process look like?
Bad tenants are exponentially more expensive than vacancies. An eviction in Illinois can take several months and cost thousands in legal fees, lost rent, and repairs. A strong screening process is your first and best defense.
Ask about minimum credit score requirements, income verification, eviction history checks, and reference calls to previous landlords. Ask where the screening criteria are documented and whether they’re applied consistently. Inconsistent screening creates fair housing liability in addition to bad tenant outcomes.
5. How do you handle maintenance requests and what is your response time standard?
Tenant retention is directly tied to how quickly and professionally maintenance is handled. A tenant who waits two weeks for a repair and gets no communication in between will not renew. They’ll leave, and you’ll be filling that unit all over again.
Ask for a specific response time standard for emergency vs. non-emergency requests. Ask whether tenants can submit maintenance requests through a portal or app. Ask how owners are notified and what the approval threshold is before a repair is authorized.
6. Can I talk to three of your current owners?
Any management company worth working with should have a short list of current clients willing to speak with prospective owners. Not curated testimonials on a website. Actual people you can call and ask about their real experience.
If a company hesitates on this one, that tells you something important. Either they don’t have satisfied clients willing to vouch for them, or they don’t have the confidence in their service to let their work speak for itself.
What Good Answers Look Like
A great property manager answers all six questions without hesitation, with specifics, and without redirecting to their marketing materials. They welcome the scrutiny because their operations can withstand it.
M Property Group LLC manages a large portfolio of rental properties across the Chicago south suburbs and holds a 4.9-star rating. We built that reputation by being the kind of company that passes this interview every time.
We pass every late fee back to owners. We coordinate vetted vendors and give you itemized invoices on maintenance, with full transparency. We know our vacancy fill times. Our screening process is documented and consistent. Our maintenance communication is real-time. And we’ll give you references without blinking.
See the specifics at our owner benefits page, or come ask us all six questions directly at our free consultation page.
You Deserve a Manager Who Can Pass This Test
Your rental properties are significant assets. The company you put in charge of them should be able to answer basic accountability questions without discomfort.
Book a free consultation at https://cal.com/mike-f/30min and ask us everything on this list. We’ll have answers for all of it.
