Most owners pick a property manager the wrong way. They Google “property management Little Rock,” call the first three results, and pick whoever returns the call fastest. A year later, occupancy is at 88%, turns are taking 25 days, and the owner statement is unreadable. Here’s the 10-point operator-vetting checklist we’d use if we were hiring a PM for our own portfolio.
1. How many units do they actually manage?
Ask for a number, not a range. A company managing 20 units doesn’t have the systems of a company managing 150+. A company managing 1,000+ may not give you operator-level attention. Find the right band for your portfolio size.
2. Who is the actual point of contact?
If you call, who picks up? Is the owner accessible, or are you routed through a call center? For a small-to-mid portfolio, operator access matters.
3. What’s their occupancy benchmark, and what’s their actual?
Most PMs quote occupancy from memory. Ask for portfolio-wide occupancy as of last month. We run 95%+ across 150+ units. If they quote a benchmark but can’t show actual, that’s a flag.
4. What’s their average days-vacant?
The industry norm is 30–60 days. We target 30 days or less. Days-vacant directly drives owner ROI. Ask for the number.
5. What’s their typical unit turn time?
This is where vertical integration matters. We target 10 days or less because we own the construction crew. Most PMs outsource turns and end up at 20–30 days. The cost difference is real money.
6. Show me a sample owner statement
Ask to see an anonymized real owner statement. Look for: line-item expense detail, photo documentation, leasing fee disclosure, capex tracking. Vague statements predict vague communication.
7. What’s their leasing process?
Specifically: where do they list (MLS, Zillow, Apartments.com, Facebook Marketplace, their own site?), how fast are showings booked, what’s their screening criteria, what’s their conversion rate from showing to lease?
8. What’s their fee structure, and what’s not in the base fee?
Base management fee is the headline. The real cost includes: leasing fee, renewal fee, maintenance markup, vacancy fee, technology fee, lease-up fee, eviction handling. Get the total cost of ownership, not the headline rate. See our fees breakdown for the framework.
9. How do they handle maintenance?
In-house crew, contractor network, or hybrid? Average response time? Markup on contractor invoices? Owner approval threshold for repairs? These answers tell you whether maintenance will be a margin drag.
10. Can I talk to two current owner clients?
References that aren’t curated. Specifically ask for: one owner who’s been with them for 3+ years, and one owner who started in the last 12 months. The mix tells you both retention and onboarding quality.
Red flags to walk away from
- Can’t quote portfolio-level occupancy or days-vacant
- Won’t share a sample owner statement
- Pressures you to sign a multi-year contract on the first call
- No clear maintenance approval process
- Owner reviews on Google are sparse or generic
Frequently asked questions
What’s a fair property management fee in Arkansas?
8–10% of collected rent for full-service single-family PM is the typical range. Lower fees almost always hide markup elsewhere. See our fees breakdown.
Should I sign a long-term PM contract?
Most PMs ask for 12-month terms. We recommend a 90-day exit clause for the first 6 months, if performance isn’t there, you should be able to leave.
How long should it take to switch property managers?
30–60 days typically. We’ve onboarded portfolios of 20+ units in under 45 days. See our switching PM guide.
What’s the biggest mistake owners make hiring a PM?
Picking on price alone. The cheapest PM is almost never the lowest-cost-of-ownership. Days-vacant, turn time, and maintenance markup matter more than the headline fee.
Do you take on portfolios from other PMs?
Yes. We’ve onboarded dozens of doors mid-lease from other managers. Call 501-650-5137 or PM team 501-850-6874 to talk through your portfolio.
Want to apply this checklist to us?
We welcome it. Call Chase at 501-650-5137 with any of these 10 questions. Direct, operator-level answers.
About the Operator: Chase Calhoun is the founder of Chase Calhoun Real Estate, managing 150+ rental units across Central Arkansas with 95%+ occupancy and a 10-day-or-less unit turn benchmark. Read full operator profile.
Markets we serve: Little Rock · North Little Rock · Sherwood · Conway · Benton · Bryant · Maumelle · Cabot · All Locations
Operator services: Property Management · Build-to-Rent · Real Estate Sales · Cash Offers · All Services
Thinking about handing this off to a pro?
If you own a rental in Central Arkansas and you would rather spend your time on the next deal than on midnight maintenance calls, we can help. Start with a free rental analysis to see what your property should rent for and how we would manage it. Learn more about our property management approach.
