If you own several properties, or if you own one property but want someone else to take care of the general maintenance for you, you might benefit from hiring a property manager. A property manager collects rent payments, keeps the buildings and grounds maintained, and helps with business transactions such as lease negotiations and serving eviction notices. A good property manager’s main goal should be increasing your business profits. Before you team up with a property manager, there are several steps you might want to take to make sure that you are a good fit. Talk with a potential property manager to see what they know about the local market. This is very important since a property manager should know what renters are looking for. Ask the property manager what changes they think you should make to increase the profitability of your property. While you check out the property manager’s knowledge, you also want to check out their background. Ask for three references, including a current customer, and make sure you follow up on calling the references. Ask about weak points as well as strong points since no one is perfect. You want to make sure you can handle working with a property manager’s weaker areas. Business knowledge is a must for a property manager. Try to find one with a background in accounting. The property manager should be organized and able to keep the accounting for your property’s expenses and revenues well under control. You also want to make sure that your potential property manager is good with people since they will be interacting with your tenants. Talk with some of the tenants in the building your property manager currently maintains to assess their reputation. Happy tenants are more likely to stay on, decreasing your turnover and increasing your profits.