6 Questions to Ask a Property Manager Before You Sign Anything

The property management conversation usually starts with your potential manager pitching you a revenue projection and explaining their services. That's backwards. You should be the one asking the questions.

Here are six that reveal the most about whether a manager is worth hiring.

1. What revenue goal will you commit to in writing?

A manager who gives you a revenue projection during the pitch but won't put a specific goal in the contract is hedging. Good managers are willing to commit because their goal-setting is grounded in real data — and because their compensation should be connected to it.

If the answer is vague ("we'll work hard to hit the numbers we discussed"), keep shopping.

2. What happens to your fee if you miss it?

Most management agreements don't include any consequence for underperformance. The manager earns the same percentage whether they hit your goal or fall 30% short.

Ask specifically: does your fee change if my property misses the revenue target?

At TruStay, the answer is yes — our fee drops to 17% when we miss the goal we've committed to, and goes up to 23% when we beat it.

3. How do you handle pricing?

"We use dynamic pricing" isn't specific enough. Ask: Which tools? How often are rates reviewed? Who makes the call when local events affect demand?

A manager reviewing pricing weekly based on real-time market data is doing something fundamentally different from one who sets rates seasonally and checks in quarterly.

4. What does your owner reporting look like?

Ask for a sample report. What you want to see: revenue vs. goal, average daily rate, occupancy rate, review summary, and any outstanding action items. What you don't want: a deposit confirmation with no context.

5. How quickly do you respond to guests — and to me?

Guest response time affects reviews. Owner response time affects your relationship with your manager. Both matter. Ask for their average response time on guest inquiries and on owner questions.

If they can't give you a number, ask how they'd handle a Saturday night maintenance issue. The answer tells you a lot.

6. Can I talk to a current owner in my market?

References from owners with comparable properties are more useful than testimonials on a website. A good manager should be able to connect you with 2–3 owners who will speak honestly about the experience.

If a manager hesitates on this, that's a signal.

A Final Note

The right property manager for your STR — whether you're in Utah, Colorado, Idaho, Texas, or any market we're expanding into — is one who can answer all six of these questions specifically, with a contract that matches what they said in the pitch.

TruStay was built for owners who ask questions like these. A free TruQuote is a good way to see if we're the right fit.