Managing an investment property involves a variety of responsibilities. When choosing a Property Manager, you want to be sure they can not only meet those responsibilities, but help you achieve your investment goals as well.
Why should you employ a Property Manager in the first place? Experienced Property Managers will see to tenant applications, maintenance issues, legislative requirements, just to name a few of the tasks you won’t have to stress over yourself.
When it’s time to start looking for the Property Manager best suited to you and your investment property, start by looking locally. Local knowledge is crucial. This helps in attracting tenants, setting the rent and connecting with trusted tradespeople.
You can easily hop online and Google search for Property Managers. Real estate websites, such as Realestate.com.au and Domain are the two biggest property listing websites in Australia and will help you find Property Managers all over the country. When browsing, check to see if they have experience in managing property within the area where your investment property is located.
However, don’t just rely on listings. Search for reviews and testimonials, whether online or from people you personally know. How was their experience with the Property Managers they’ve had? What made them choose their Property Manager? If they’ve switched agents, what made them decide to find someone else? Were their returns maximised? How would they rate the Property Manager’s communication skills?
Once you’ve narrowed down your list of ideal Property Managers, it’s time to get to know them better. Ask questions to determine whether your Property Manager is one who has your best interests, such as: How do you market available properties for lease? What is your process for dealing with repairs and maintenance? How frequently will you inspect my property? How frequently will the agency communicate with me, and what form will it take?
What makes an effective Property Manager? They should be able to communicate well so that you’re updated on issues. They should understand the market so they will know how to advertise your investment property and reduce vacancies. On the financial side of property management, they should be accurate and well-trained. They should also have a well-organised system for keeping record of rents, inspections, maintenance and other management matters. Ultimately, you want to find trust and confidence, so you know your needs can be understood and met.
We have years of professional experience in managing properties. Get to know our team of experts https://www.rentalresults.com.au/our-team/