Property Management is a crucial part of your investment, as more Australians invest in property. Choosing the right property manager will help you in the day to day tasks of handling your investments. There is more to just collecting rent in managing your investment property. A property manager is tasked to address tenant issues, property repair and maintenance, and much more. But, how do you choose the right Property Manager?
Property Manager credentials. Most agencies have several departments, so make sure you choose one with a dedicated property management department. Choose a property manager with a proven track record of successfully managing properties. Your property manager should also have years of experience in real estate. Provide scenarios so that you can hear firsthand their ability to resolve conflict and other issues that may arise.
Property Management Proposal. Do they take the time to sit down and talk to you about their plan for your investment? You should take these small but critical details as a consideration – as property managers should at least have the time to discuss things with you, rather than just send you a sheet of paper.
Property Inspections. Choose a property manager that takes the time to accompany tenants for inspection. In this way, inquiries of prospect tenants can be addressed right away. Hiring a property manager that does this ensures that they are concerned about your profitability.
Property Maintenance. Property managers should have extreme attention to detail. They treat your property as their own, so you can be assured that your property is always in good condition. Choose a property manager that can make repair recommendations, and look into their plans for routine inspections and maintenance.
Property Manager availability. Are you looking for a manager that specialises in local properties, or will you have properties spread out in different areas? Your property manager should be well adept with the varying issues for each location. Hire a property manager that specialises in a large geographical area.
Court experience. As the landlord, certain instances may require you to appear in court to protect your rights. A good property manager should have a good grasp of the most recent changes to tenancy laws.
Whatever your goals, choose a property manager that treats your investment as their own. Proactive managers can increase your rental return and unlock the full potential of your investment property.