What are your contract terms? - if you are uncomfortable with any terms of an agreement, you can make adjustments to the agreement, just initial or sign the changes. If your property manager does not like the change then you can express your concerns and hopefully come to an arrangement. Make sure this is done before you submit the agreement back to your property manager.
Think about what you want to achieve from the property and occupying tenants. Is your goal to maximise profits? Is it to have a long term tenant? Often, we see that putting a very overpriced house on the market can attract tenants that haven't been able to secure a property elsewhere. That's not necessarily a bad thing, but sometimes it could be a red flag. Some owners like to keep the rent price down a bit, achieving a wide pool of applicants, making it easier to find someone suitable. These owners also hope they will attract long-term and unproblematic tenants, who know their rent price is really good. So they opt to not shift home. However, this does result in rent loss. It is important to remember, you can get great tenants in high-priced homes, and not so good tenants in low-priced homes.
Think about how involved you want to be with your property. Some owners like to know everything that happens and keep well informed, this can be more stressful for an owner, but the communication lines are strong. Whereas, some owners like to leave the property manager to sort everything, less stress, but more chance of a communication breakdown. Both scenarios have pros and cons. Make sure you thoroughly express to your property manager what you need from them - this can even be done in writing.
How much are you willing to pay? - property management can be expensive. We have often charged high management fees, due to the quality of our service. However, more recently, we have reduced our prices, because rents have increased significantly and it has felt as though we are charging too much. Don't be fooled by "more expensive means better". The industry likes to keep rates fixed, from what we have seen in our experience.
Do you want a big franchise and/or a real estate firm, or a small company? Our interpretation is that those who choose large well-known firms, do this because they feel it may be more reliable. Maybe not as personal or friendly, but an owner might feel more comfortable. However, we often find that those who choose small firms are often private people, who like to keep their investments, business, etc. low-profile. It really depends on what you are happy with.