Commercial PM & Engineer Interview
- ☐ PM and Building Engineer Interview Questions
- ☐ Building Condition & Maintenance:
- ☐ 1. What is the current condition of the building?
- ☐ • Ask about any ongoing maintenance issues, major repairs, or improvements needed.
- ☐ 2. When was the last major renovation, and what was done?
- ☐ • This will help you understand the building’s upkeep and whether there may be future capital expenses.
- ☐ 3. How is routine maintenance handled?
- ☐ • Inquire about the frequency and responsibility of tasks such as HVAC service, landscaping, or snow removal.
- ☐ 4. Are there any upcoming major repairs or replacements?
- ☐ • This could include HVAC systems, roofs, or elevators that are near the end of their useful life.
- ☐ Tenants & Leases:
- ☐ 1. What is the current occupancy rate?
- ☐ • Get a sense of tenant turnover, demand for the building, and potential cash flow.
- ☐ 2. What are the terms of the existing leases?
- ☐ • Review the leases for length, rent increases, and renewal options.
- ☐ 3. Have any tenants indicated they will not renew their lease?
- ☐ • This helps in assessing future vacancy risks.
- ☐ 4. Are there any problem tenants or rent delinquencies?
- ☐ • You need to know if any tenants are not paying rent or causing issues.
- ☐ 5. How are new tenants sourced and vetted?
- ☐ • Understanding the tenant sourcing process helps gauge how the property might perform in the future.
- ☐ Financials & Operating Costs:
- ☐ 1. What are the operating costs of the building?
- ☐ • Ask for a detailed breakdown of expenses, including utilities, maintenance, taxes, and insurance.
- ☐ 2. What is the historical rent roll for the past 3-5 years?
- ☐ • This will give insight into the building’s financial stability and performance over time.
- ☐ 3. Are there any outstanding debts or liens on the property?
- ☐ • Ensuring the property is financially sound is crucial before purchasing.
- ☐ 4. Is there a reserve fund for repairs or emergencies?
- ☐ • Check if there’s a budget allocated for unexpected repairs or upgrades.
- ☐ Building Systems & Compliance:
- ☐ 1. When were the last inspections for systems like HVAC, plumbing, and electrical?
- ☐ • This ensures that building systems are up to code and functioning properly.
- ☐ 2. Is the building compliant with local zoning, fire, and safety codes?
- ☐ • You want to avoid buying a property that may face regulatory issues or fines.
- ☐ 3. Has the building had any environmental issues (e.g., asbestos, lead, mold)?
- ☐ • Ensure there are no potential health hazards or expensive remediation costs.
- ☐ Property Management & Operations:
- ☐ 1. What does the property management contract include?
- ☐ • Ask for details on what the property manager handles and what falls under your responsibility.
- ☐ 2. Are there any contracts in place for cleaning, security, or other services?
- ☐ • Check if these services are reliable and cost-effective.
- ☐ 3. How are tenant complaints or issues handled?
- ☐ • A good management company should have a clear process for addressing tenant concerns.
- ☐ Legal & Miscellaneous:
- ☐ 1. Are there any ongoing legal disputes or tenant issues?
- ☐ • Litigation could affect your ownership experience and financial return.
- ☐ 2. What is the local market demand for this type of building?
- ☐ • Ask about trends in rent prices, vacancy rates, and tenant types in the area.
- ☐ 3. Are there any known plans for development in the area?
- ☐ • New developments could either increase competition or boost property values.
All County
- Botique, no experience
- 10 listings a month, none commercial. Only Dyno Jiujitsu
- In house maintenance, 65$
- Software, rent manager, recon ag
- ☐ Double check with city of san marcos on sewer work
- Costar
- 17 as office, 3 year leases
- Tenant disputes : go back to leases
- Marketting canvassing
- Fees proposal still waiting
- Reports
- P & L, Balance Sheets, Rent Roll, owner disbursement monthly
- Leasing - tenant turnover
Partners
Experience and Background:
1. Can you provide an overview of your experience managing similar retail properties?
Oakhill, beecave corridor. Blanco, San Antonio, Triangle in San Marcos. Trails at 620 recently sold
2. Do you have specific experience with properties of a similar size and tenant mix?
3. Can you provide references from current or past clients?
30 clients spread out around Texas.
4. What types of retail properties (strip malls, stand-alone stores, etc.) have you managed?
Middle Market
- Structure
- Isaiah, nicky, brad, COO
Management Services:
1. What services are included in your property management fee?
Management only. Operating and managing services, labor and admin, property manager. No engineer needed, not typical. LL are responsible for some common areas.
GC fee over 10k
2. How do you handle property maintenance and repairs? Do you have an in-house team or preferred vendors?
Bonded/insured vendors all 3rd. No in-house for Austin
3. What is your protocol for emergency situations, and how do you handle 24/7 maintenance needs?
Internal incident report. Tenant to PM. Work with Insurance to cut. Bill back replacement etc.
4. Do you provide regular property inspections? If so, how frequently are they conducted?
Every 2 weeks do an onsite at minimum. If property warrants it.
5. How do you handle tenant build-outs or leasehold improvements?
Isaiah handles most of these. Going out working with permits and objects to be done. Follow through on certificate occupancy.
Leasing and Tenant Relations: We would handle this, not part of PM fee
1. What is your approach to tenant acquisition and retention?
2. How do you handle lease negotiations and renewals?
3. How do you resolve disputes between tenants or between tenants and management?
4. Can you provide examples of how you’ve improved tenant satisfaction and occupancy rates in your previous properties?
Financial Management:
1. What are your reporting capabilities (e.g., monthly financials, rent roll, budget variance reports)?
- ☐ Commercial Cafe: Online portal for tenants, post monthly rent statements. Research for sales reports.
- Partners Insights: market snapshots from the Yardi system.
- ☐ SAM.gov annoying to deal with, 3 months to swap over for gov’t tenants.
2. Do you provide annual budgeting and forecasting for operating expenses?
- ☐ Get from partners.
3. How do you handle rent collection and tenant delinquencies?
- ☐ Evictions, half priced books.
4. What systems do you have in place to track and manage common area maintenance (CAM) charges?
5. Do you offer any strategies or suggestions for reducing operating expenses?
- ☐ Run by after with Partners
Legal and Compliance:
1. How do you ensure the property is in compliance with local, state, and federal regulations?
2. Do you handle legal issues related to tenant evictions or breaches of lease agreements?
3. What measures do you take to maintain ADA compliance for commercial properties?
Communication and Reporting:
1. What is your communication style, and how often will you provide updates?
2. Will there be a dedicated property manager assigned to this property, or a team?
3. How do you handle owner inquiries, and what’s your typical response time?
4. Can you share sample reports that I would receive on a monthly/quarterly basis?
- ☐ Ask for from partners
Technology and Systems:
1. What property management software do you use?
Yardi
P2P
2. Do you offer a portal for owners and tenants for streamlined communication and document sharing?
3. Do you utilize technology for tracking maintenance requests, lease management, and financial reporting?
Fee Structure and Contracts:
1. What is your fee structure, and are there any additional fees beyond the base management fee?
Reimbursement + labor reimbursement. All inclusive, baked in. Recoverable through CAM. Reconciliation CAMs are included
2. What is the duration of your management contract, and what are the terms for termination?
2 year contract, cancelation.
3. Are there any penalties for early termination of the management agreement?