How to appoint a property manager
Whether it’s your first time renting out an investment property or you’re seeking a new agency to handle the management of your rental, choosing and appointing the right property manager to look after your financial asset is an important decision.
So how do you select the right property manager and what’s involved in appointing them?
The value of a good property manager
A good property manager safeguards your financial asset by ensuring the right renters are in place, the rent is paid on time, the property is looked after, and any maintenance and repairs are handled in a timely manner.
Their role is to liaise with all parties of the rental agreement and make sure all legal obligations are adhered to.
In the interim, they are proactive, communicating with both the rental owner and occupier to mitigate problems before they arise.
That makes finding the right property manager imperative, but what exactly should you look for and what happens when you know you’ve found the right one?
What to look for
We have a great guide for finding the right property manager here, but in the interim, here are a few brief pointers to ensure you’ve found the best person for the job…
Look local – Local knowledge is a big advantage when it comes to setting the correct rental price, finding the right tenants and also handling maintenance and repairs, so look for an agency that is located in the same region as your property.
Do your research – From word of mouth referrals to reviews and testimonials, research which property managers have a trusted reputation.
Ask questions – When you contact a prospective property manager, ask them questions about their service, including:
- The fees and charges associated with managing your property
- Their policies for selecting the right renter, handling rent arrears, and undertaking repairs and maintenance
- Their experience in property management
- How they will communicate with you and under what circumstances
Appointing a property manager
Once you’ve found a property manager and agency that you feel you can work with, appointing them is a fairly simple process.
In most cases, it involves filling in and signing a simple form which sets out:
- The address of the property
- The agency’s fees and charges for managing that property
- The services the agency will provide and how they will provide them
- Any other associated costs for managing your property, such as advertising it for rent
Once this form has been completed, the agent can officially manage your property, so ensure it is filled in completely and you understand the terms involved.
The property manager’s responsibilities
By law the property manager you select has a series of responsibilities as part of their role.
These include:
- Responding quickly to any maintenance and repair requests
- Acting in accordance with the relevant state or territory rental law
- Acting in your interests when selecting tradespeople
- Collecting and disbursing the required rent
- Conducting routine inspections and keeping you and the renter abreast of any issues
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.
