How to Find the Right Property Manager

rental4Property 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.

Do you need a Property Manager?

Property investors are often faced with the dilemma of choosing a property manager to maximise profit. Most people choose their property managers based on fees, but there are some considerations, because there is more to a property manager than just collecting rent.

You have to assess your personality and determine whether you have the ability to manage your tenants at a professional level. If a tenant falls behind in paying the rent, or damage is found during inspection, can you handle these issues professionally?

You, as the Property Manager should also be attuned to the legalities surrounding your property. Lease agreements, evictions and bond claims should follow legal procedures so that you can justify your claim. When seeking tenants for your property, do you have what it takes to advertise and gauge the right people for your property?

When you answer “no” to any of the questions above, it might be a good time to consider a Property Manager. These people are equipped with a marketing plan and will help you with your investment from start to finish. Property Managers have industry specific skills that will assist you in getting the most out of your property. When choosing a Property Manager, make sure your interest is their priority, after all – Investments should give you peace of mind and security.

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The 6 Benefits Of Hiring A Property Manager

The 6 benefits of hiring a Property Manager

Finding tenants. Looking for tenants for your property is a tedious and stressful especially if you have little to no experience. On the other hand, Property Managers have the skill and expertise in advertising your property and finding the suitable tenants for you.

Compliance with the law. Attempting to manage your property with little understanding of the law can result to fines that you can easily avoid with a Property Manager. They also understand compliance laws keeping the burden off of your shoulders.

Taking care of paperwork. Hiring a Property Manager not only saves you money, but valuable time. Property Managers are experts in paperwork, and they will provide you with your income and expense reports when you need it.

Property management. Property Managers ensure that the property is well maintained and will go through regular inspections to ensure that you won’t have to spend much for major repairs.

Income. You might think that putting matters in your own hands will save you money, when it truth, it is the opposite. Property Managers are experts in long term planning and will provide you with the best option for you to get a good return on investment.

Avoid the horrible tenant. You wouldn’t have to worry about your tenants, as Property Managers often screen tenants before allowing them into your property.

Read more about this on the Property Update website.