• Property Management Tips

Property Management Tips

A Property Manager can help make sure you receive a reliable income stream, good capital growth and the best possible returns. When choosing your property manager it is important that you ensure you choose the property manager that will provide you with service you require to achieve your objective. Some important questions you should ask are:

  • Who will be managing your property?
  • How many properties does your company manage?
  • What is your process for finding a suitable tenant? What is your screening process?
  • How is maintenance and repairs handled?
  • How often are inspections done and how many inspections are done per year?
  • What management options are available and what are the full costs with regards to managing the property?
  • What is your point of difference?
  • How do you handle rental arrears and what action is taken to remedy this?

The benefits of having a property manager are:

  • Property Managers are professional at screening prospective tenants. The can do the necessary screening and reference checks to ensure you are provided a full history and background when deciding between applicants. This leads to having fewer issues with tenants and a higher quality tenant.
  • Property managers act as the buffer between you and the tenant and are able to deal with issues and get them sorted for you.
  • They are your tenants point of contact and they can deal with any maintenance issues using their preferred tried and tested trades people.
  • Good property managers can ensure to keep tenants happy, preventing tenant turnovers.
  • They can ensure that there are no rental arrears and take the necessary steps in sorting it out as soon as possible.
  • They are up to date with the legislation as well as any changes that may occur and they can help guide you with your rights and obligations as the owner
  • It can reduce your risk of having a vacant property and you may be eligible to a more comprehensive insurance cover and other advantages.