Hi All,

I have a 4-unit building in Queens county, NY.

I've managed my own property since I bought it. Now I want some free time to pursue other things.

1. Can someone please recommend a good property manager in Queens, NY?

2. If I talk to a property manager, what are the questions I should ask?

Thanks,

John.

# of years in business

# of years managing your type of real estate

Are they licensed?

Certifications they posses

# of properties they manage

Size of the area in which they manage properties

Length of average client relationship

Address of some of their properties (Ask for a walk through if possible)

Distance between their office and your property

Size of staff

Staff turnover rate

Office hours (are they closed on weekends?)

FEES:

Advertising Fees: should be no more than between $100 -200

Lease Renewal Fees: Avg: 100-200

Reserve Funds: Normally up to $500/property ask if in te beginning this can be $100-200 until you are comfortable with them

Maintenance Fees: Will they contact you with an estimate before starting normally waived for emergency services

Renovations: Do they employ or hire out maintenance service and what is the hourly rate. Renovations do they act as GC or do they oversee project; how many competing bids do they require and do they mark up charges and by what percentage

FEES: evictions, unpaid rent, and paying bills

What portion of pet fees, NSF, late fees, lease violation fees do they keep

Is there any downside if the lease is between the tenant and the PM, not the owner?

Is the termination fee of 1 month rent reasonable?