How to find the right property manager
When you own a rental property, a great property manager is one of the best investments you can make.
But how can you ensure you find the right person to protect your asset, manage it well and communicate with you throughout the process?
Here are our top tips on finding the right property manager…
The role of the property manager
The property manager’s primary role is to protect your asset and ensure it generates a good return in the form of rent.
As part of this, the property manager takes on the responsibility of finding the right renter, overseeing property repairs and maintenance, collecting the rent, and then disbursing the property’s income to the property owner.
They do so while ensuring all parties in the rental agreement meet their legal obligations. And there’s a lot more to this role than meets the eye.
A great property manager will proactively communicate with all parties involved, inspect the property on a regular basis, tend to maintenance and repairs in a timely manner and ensure the property is enjoying the return that it should.
But how do you find the right property manager?
Look local
When it comes to managing a property, local knowledge is critical.Â
You want a property manager who knows the local market, understands the demographics of the local community, and has access to a network of local tradespeople.
Do your research
Not all property managers are created equal, so take the time to do your research, looking for agencies who have a proven track record managing rentals and consistently get good reviews.
If you know other rental owners in the local area who have their properties managed by an agency, ask them about their experience and whether they have a property manager they would recommend.
Consider the key areas
When the time comes to start contacting property managers, keep the key areas of property management front of mind and consider how well a prospective agency handles each.
These key areas include:
- Finding renters for your property
- Collecting the rent and ensuring it is paid on time
- Ensuring the property is being properly looked after
- Handling maintenance and repairs
Ask questions
With those key areas in mind, compile a list of questions to understand how the property manager will work with you and the rental occupier to ensure the best possible outcome for your rental.
These questions are designed to understand things like how much experience the property manager has and the services that they offer.
They might include:
- How much experience do you have managing properties?
- How many properties does each of your property managers look after?
- How do you screen rental applicants?
- How will you communicate with me and in what scenarios might I expect to hear from you?
- What are your fees?
Focus on communication
Good communication skills are critical to effective property management.
After all, a property manager is often the intermediary between multiple parties and requires the ability to achieve win-win outcomes for everyone involved.
Look for these communication skills from the outset.
A property manager who can verbalise what they offer, why they’re different and how they can best look after your asset will give you added confidence that you can entrust them with your property.
How we can assist
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.
